Sereni Fries

Sereni Fries is a potato processing company in Kenya, founded in 2015 with 49 employees. The company has branches in Nairobi, Mombasa and Nakuru. Sereni has recently invested in a storage facility for 500 tonnes of potatoes in Nakuru, with the help of the Dutch development organisation SNV. Sereni processes the potatoes into fresh potato products or crisps. The fresh potato products are sold to the catering sector and the crisps to retail businesses in the metropolitan areas of Nairobi, Mombasa and Nakuru.

Yearly, Sereni processes about 1,200 tonnes of potatoes from 500 small-scale farmers. The new storage facilities allow the potatoes to be stored in the high season, so they can be sold all year round. This gives the company the capacity to process 3,000 tonnes yearly, for which a network of 2,500 farmers is needed. Furthermore, the storage facility gives small-scale potato farmers more income security. Sereni has the ambition to scale up further and add 2,000 more potato farmers to their network of suppliers. 

Sereni is planning to invest even more in the capacity development of small-scale farmers in order to provide sustainable improvement in potato quality. At this moment in time the company employs 2 agronomists who advise the farmers on their potato production. This enables them to reduce water shortages, a great climate risk, by using techniques like rainwater collection, sun irrigation and soil cultivation. Sereni intends to employ 6 more agronomists as the company scales up further and their network of local farmers grows. 

General information

BorrowerSereni Fries LTD
CountryKenya
Head officeNairobi
Websitehttp://www.serenifries.co.ke/
Founded 1 January 2010
Active on Lendahand since 1 July 2020

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Financial information per 2020-12-31

Total assets€249,781
Revenue€613,850
Leverage ratio53.76%
Liquidity71.00%

About Kenya

Kenya is East-Africa’s financial centre, with the largest economy, the highest income per capita and the best infrastructure. The country is conveniently located on the coast, allowing it to become the regional trade centre. Kenyans are typically well-educated, compared to people in neighbouring countries with which it forms a customs union. There is a free market and low import and export restrictions. These factors all lead to Kenya being the main location for foreign companies to settle, after South-Africa. Important sectors are agriculture, industry and services. The latter includes the financial sector. The increase in export, of tea and flowers for example, also contributes to an influx of foreign currency.

Last funded project

Sereni Fries 4

With a loan of EUR 15,000 as working capital, Sereni Fries can purchase more potatoes from an extra 120 farmers. This provides the farmers with increased income. Due to their storage facility, Sereni Fries can purchase potatoes year round. By training the farmers in climate resilient farming techniques, their production improves, both in quality and quantity.

  • 120 people reached

Sereni Fries

Entrepreneur

€15,000

Amount needed

12 months

Maturity

Impact loan

100%
Fully funded in 30 days on 30 June 2021.