Soma Chicken Farm (“SCF”) is a poultry farm located in Garowe, Puntland. SCF sells chicken meat, eggs, and manure and has demonstrated its ability to successfully raise poultry and sell into the local markets. The chicken that are typically imported are often of low quality despite a large demand for quality poultry products in Somalia’s domestic market. While there are few chicken farms operating in Puntland, most of these are small-scale farms that cannot meet the current demand. SCF is one of the few farms implementing large-scale poultry production and is therefore a popular choice for its customers in nearby Garowe.
In 2015, SCF secured financing through a Shuraako-brokered investment, supporting the first phase of its planned expansion: the building of two new flock houses, purchase of incubators and a feeding/drinking system, the production of its own chicken feed, and selling of manure to local farmers. The loan also enabled SCF to hire an additional 14 staff. After the successful repayment of its first loan, SCF was able to secure additional financing from the Nordic Horn of Africa Opportunities Fund to begin phase two of its expansion project. Specifically, the investment supported SCF to purchase a 250,000 m² plot of land and construct a new poultry house nearby its first farm. Through this investment, SCF aims to hire an additional 129 staff.
SOMA CHICKEN FARM COMPANY HIGHLIGHTS
|Previous Financing:||Arsenault Family Foundation|