• Norfund is investing €20 million ($23.5 million) in Côte d’Ivoire’s SIPRA.
• The deal will expand production, boost small farmers and improve governance.
• Poultry demand in Côte d’Ivoire is set to grow to $2.2 billion by 2027.

Norfund, the Norwegian development finance institution, announced on September 30, 2025, that it has invested €20 million ($23.5 million) in Société ivoirienne de productions animales (SIPRA), one of West Africa’s largest integrated poultry companies. The deal gives Norfund an equity stake in the Abidjan-based group.

The investment will allow SIPRA to increase its production capacity across feed, farming and processing, while advancing animal nutrition research and improving operational efficiency. The company, which employs over 1,200 people, will also be able to strengthen thousands of smallholder farmers involved in its poultry value chain.

Jean-Marie Ackah, president of Groupe Avos, SIPRA’s parent company, said Norfund’s entry reflects a strategic move to partner with an international institution to reinforce governance, support ongoing growth and improve efficiency. He added that SIPRA will continue pursuing sustainable production goals alongside its new partner.

Naana Winful Fynn, Norfund’s regional director for West Africa, said the investment supports a company vital to Côte d’Ivoire’s economy. She highlighted that Norfund will help SIPRA sustain its role in food security, achieve growth targets and strengthen its long-term competitiveness.

The investment comes as Côte d’Ivoire’s poultry market shows strong growth prospects. According to the U.S. Department of Agriculture (USDA), the country’s meat market is projected to reach $2.2 billion by 2027, up from an estimated $1.5 billion in 2022. Norfund expects Côte d’Ivoire to outpace most West African peers in poultry market growth, driven by urbanization, rising domestic demand and continued investment. By 2031, the country could even become a net exporter of poultry within ECOWAS.

Acquired in 2000 by Groupe Avos, founded by Jean-Marie Ackah, SIPRA has grown into the leading poultry company in Côte d’Ivoire. Its brands include Ivograin, Ivoire Poussin and Coqivoire. The company has also launched a maize production program in northern Côte d’Ivoire to reduce reliance on imports and is active in Burkina Faso.