Superfine Nuts 2
This second loan of EUR 25,000 will be used as working capital to purchase more macadamia nuts from an additional 39 local farmers. This will allow Superfine Nuts to build up more stock to meet the increasing demand for macadamia nuts, while more farmers have increased incomes.
- 39 people reached
This is a direct loan to a business. It is advisable to cautiously determine the amount you invest in this project. Look here for more information about the risks of an investment.
Company Name: Superfine Africa Nuts Ltd.
CEO: Mr. Simon Kariuki Ng’ang’a
Location: Thika, Kenya
Sector: Food processing
Turnover: € 2,913,716
This is a direct loan to a company. It is advisable to be cautious about the size of an investment in this project. Get information about the risks of an investment here.
About the Company
Superfine Africa Nuts is a Kenyan company that buys, processes and sells macadamia nuts for export. The company currently employs 54 people, plus 130 temporary workers during the high season when the nuts are harvested. Of the total number of employees, 85% are women. Superfine aims to become the market leader in environmentally friendly produced macadamia nuts. In doing so, it wants to offer local farmers, who produce the nuts, access to the market for a sustainable income.
The market for macadamia nuts is growing, especially in Europe the demand is increasing. Superfine currently has 8 regular buyers in the United States, Canada, France, the Netherlands, the United Kingdom, Thailand and Vietnam. Growth of 6.8% is predicted over the next 5 years.
Superfine currently works with 3,012 farmers who grow the nuts. They also train these farmers in sustainable farming techniques, to ensure sufficient harvests of good quality. The best quality nuts are harvested in February and March. From September to November there is a second harvest, with lower yields. Superfine purchases 95% of macadamia nuts directly from these farmers, the remaining 5% from a middleman. The farmers receive a price for their nuts that is 10% above the market price.
Quality is important to Superfine. The first quality control already takes place at the local field station, where the purchased nuts are collected. Then the nuts are cleaned, dried and cracked in the factory. Then peels and other waste are removed, after which they are sorted and packed for sale. Quality checks take place after each step in the process. Superfine has several internationally recognized certifications for food processing, such as HACCP, FSSC 22000 and Kosher, which guarantee quality and hygiene.
Purpose of the loan
This second loan of €25,000 will be used as working capital to purchase more macadamia nuts from an additional 39 local farmers. This will allow Superfine Nuts to build up more stock to meet the increasing demand for macadamia nuts, while more farmers have increased incomes.
So far, the corona pandemic has had no visible effects on sales figures and demand for macadamia nuts. However, the pandemic does have an impact on operational costs, due to investments in precautionary measures to be able to work at a safe distance.
Mission and vision
Superfine Africa Nuts aims to empower local communities to fight poverty and hunger through sustainable agriculture and access to lucrative markets. Their vision is to become a world leader in the nut and dried fruit market with an environment friendly production process and minimum waste.
The expected impact of this loan:
- Better income for 39 local farmers
- 39 local farmers are trained in sustainable agricultural techniques for better quantity and quality harvests.
Superfine Africa Nuts was founded by Managing Director Simon Kariuki Ng'ang'a. He holds a Masters in Business Administration from Indiana University in the US. In 2011, he started picking macadamia nuts himself. To pick more, he hired others and entered into agreements with processors of the nuts for off-take. In 2017, he founded Superfine Africa Nuts, which processes the macadamia nuts and then resells them for export. As Managing Director, Simon is responsible for operations and all strategic decisions.
Alex Ndegwa has been Managing Director and Chief Operating Officer since 2016. Alex holds a Masters in Business Administration from Kenyatta University and is responsible for marketing and operational matters.
John Mwangi is Chief Financial Officer and holds a Masters in Tax & Customs Administration from Moi University. Since 2018, he has been responsible for the company's finances.
Dorcas Muloko is Production Manager and holds a Bachelor of Commerce from the Jomo Kenyatta University of Agriculture and Technology. As Production Manager, she has been responsible for the production process and all employees involved since 2018.
See also their website:https://superfineafricanuts.com/
|Company name||Superfine Africa Nuts|
|CEO||Simon Kariuki Ng’ang’a|
|Sector||Distribution and Processing|
Impact of this project
- With this investment 39 people are reached
About Superfine Africa Nuts
About the risks
Read more about the Risks.