So Fresh

Sector of activity: Agro-food
Status: Investissement en capital
Associed fund: I&P Expansion, IPAE 2
Entrepreneur: Olagoke Balogun, Abimbola Balogun
Employees: 115
Country: Nigeria
A propos:

 

So Fresh is Nigeria’s pioneer and market leader in the healthy food Quick Service Restaurant space (serving notably salads, juices, smoothies, sandwiches, parfaits, etc.).

The company was founded in 2010, initially selling whole fruits and vegetables, and later evolved in 2013 with the introduction of healthy meals.

Today, So Fresh operates 15 outlets in Nigeria (Lagos and Abuja), and also offers delivery services to selected communities, through its website and social media channels.

 

The entrepreneurs

So Fresh was co-founded by Olagoke Balogun ("Goke") and Abimbola Balogun.

Olagoke Balogun is the CEO of So Fresh. He has accumulated a wealth of experience spanning some 20 years across several industries and functions including food & beverage, oil & gas, marketing, sales, production and operations. He is also a graduate of the Stanford SEED program.

Abimbola Balogun studied law and was called to the Nigerian bar in November 2006. She had a 5-year stint as a legal practitioner and now 10 years as an entrepreneur. She is a Human Resource professional, and an associate member of the Chartered Institute of Personnel Management (CIPM). She is a Goldman Sachs Scholar and has a Certificate in Entrepreneurial Management.

 

Partnership with I&P 

The partnership between SoFresh and I&P, through its fund I&P Afrique Entrepreneurs 2, aims to:

• Support with further expansion across Nigeria

• Enhance the ESG impact profile of the business

• Strengthen senior management

• Expand product offerings by introducing prepackaged meals sold through 3rd party vendors

•Support with marketing and brand management

 

Expected Impacts

• Providing decent direct employment opportunities, especially for women, with each new outlet opened

• Sourcing over 90% of inputs from local suppliers

• Reinforcing the company’ ESG strategy, and notably providing health insurance, transport allowance and housing allowance for all staff

• Providing Nigerians with healthy, quality and fresh meals

 

 

 

In portfolio since: 2022
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SPAA

Sector of activity: Agro-food
Status: Financement d'amorçage
Entrepreneur: Armand Siallou Kouadio
Country: Ivory Coast
A propos:

Siallou Production Agricole & Animale (SPAA) is a company specialized in the transformation of coffee beans (green coffee) into ground coffee in Ivory Coast.

The entrepreneur

SPAA was founded by Armand Siallou Kouadio, a young entrepreneur with a DUT in Communication and Human Resources and a BTS in Business Communication. After spending 11 years with agricultural cooperatives in coffee and cocoa, he founded his own company.

Partnership with I&P and Comoé Capital

SPAA is supported by I&P and Comoé Capital through I&P Acceleration in Sahel. This partnership will enable to organize the production unit and to improve its production capacity. SPAA will also benefit from a technical support which will revitalize the accounting and commercial functions of the company and improve the production process as well as the quality of the products.

In portfolio since: 2022

Jamalia Group

Sector of activity: Agro-food
Status: Financement d'amorçage
Entrepreneur: Mathias Dessu
Country: Cameroon
A propos:

Jamalia Group is a Cameroonian agro-industrial company specialized in the production and commercialization of sweets and snack products such as caramelized peanuts (Caramélo) and roasted and salted peanuts (Peanuts) under the brand Natura.

The entrepreneur

Jamalia Group was created in 2015 by Mathias Dessu to offer snack that correspond to Cameroonian culinary habits. After his studies and experiences in Germany and with a strong desire to promote products made in Cameroon and reconvert to agro-industrial, a field he is passionate about, this entrepreneur decided to return to Cameroon after 15 years outside the country to launch Jamalia Group.

Partnership with I&P and Zira Capital

Jamalia Group est is supported by I&P and Zira Capital through I&P Acceleration in Sahel.

This funding will allow the company to :

  • acquire the machines necessary for the semi-industrialized production of the new product (spicy plantain chips)
  • set up premises more conducive to the development of the activity in terms of quality
  • improve commercial actions and build a brand identity
In portfolio since: 2022

Demal Expertises

Sector of activity: Agro-food
Status: Financement d'amorçage
Entrepreneur: Djénabou Diallo
Country: Guinée
A propos:

Demal Expertises is a Guinean company that specializes in the transformation of cocoa into chocolate, cocoa powder, cocoa butter and roasted beans under the brand Zeïna Cacao. It was created to boost the cocoa sector from production to consumption.

The entrepreneure

Demal Expertises was created in 2020 by Djénabou Diallo, an agronomist and specialist in the coffee-cocoa sector. This young entrepreneur is recognized for her commitment to the cocoa sector and to female entrepreneurship. She has a strong knowledge of production techniques and masters the cocoa value chain in Guinea.

Partnership with I&P and MBM Capital

Demal Expertises is supported by MBM Capital through I&P Acceleration in Sahel. The main objective of this partnership is to :

  • Upgrade the production line
  • Setting up the company's new premises
  • Support the company in strengthening the technical skills of its human capital
  • Assure the supply of raw materials by establishing a network of suppliers

 

 

In portfolio since: 2022

La cuisine de Nounou

Sector of activity: Agro-food
Status: Financement d'amorçage
Entrepreneur: Manuela Njankouo
Country: Cameroon
A propos:

La cuisine de Nounou is a Cameroonian company specialized in food industry by producing cooking preparations such as spices, barbecue sauces, etc. Today, thanks to its know-how and the quality of its products, the company has included a variety of 100% natural products allowing it to position itself at several levels of the meal preparation chain with products such as chilli sauce, ketchup, mustard, etc.

The entrepreneur

La cuisine de Nounou was created in late 2018 by Manuela Njankouo with the objective for the "working mum" to save time in preparing different dishes to cook for her family.

Manuela Njankouo holds a degree in software engineering from the African Institute of Informatics (IAI) obtained in 2010. She worked for 2 years as a support executive in the information systems division at Crédit Foncier du Cameroun, before starting her own business. With the aim of perfecting her skills and improving the various products her brand, Manuela took a training course in entrepreneurship at the KEDGE Business School in Bordeaux in 2019 but also a training course in the production of vegetable preserves, cooking sauces and pasta at the Conserverie Alain Martin in Bordeaux, the leader in organic preserves in Aquitaine, France.

As her business develops and thanks to the dynamism of this young woman entrepreneur, who will be awarded the second prize in 2021 by the Pierre Castel Foundation in Cameroon, the company will gain visibility and expand its customer portfolio, which is mainly made up of large and medium-sized stores, in order to reach its main target, which until now has been middle-income households.

Partnership with I&P

La cuisine de Nounou is supported by I&P through I&P Acceleration in Sahel. The funding will allow the company to develop a new market segment, especially in local stores and popular markets (mass market) through the production of mini fomats of its flagship products, which are spices and barbecue sauces. This funding will be supported by technical assistance to improve the company's structuring, its quality processes and its marketing and sales actions.

In portfolio since: 2022

Pâtisserie Les Douceurs

Sector of activity: Agro-food
Status: Financement d'amorçage
Entrepreneur: Safiatou OUEDRAOGO-YABRE
Country: Burkina Faso
A propos:

Pâtisserie Les Douceurs is a company specialized in cooking, baking and pastry making in Burkina Faso. It offers a wide range of products and services (breads and pastries, cakes, canapés, school meals and snacks, sandwiches, fast food and catering).

The entrepreneur

Pâtisserie Les Douceurs was created by Mrs. Safiatou OUEDRAOGO-YABRE, a trained cook-pastry chef with more than 27 years of experience with the SERVAIR group and in the hotel industry.

Partnership with Sinergi Burkina and I&P

Pâtisserie Les Douceurs is supported by I&P and Sinergi Burkina through I&P Acceleration in Sahel. The main objective of this partnership is to :

  • Increase the company's production capacity and improve product quality 
  • Diversify the products offered 
  • Support the company in its management (implementation of an adequate formal management system, including accounting, financial and fiscal management, production and human resources).

Expected impacts

  • Consolidation of 20 existing jobs and creation of 5 new permanent full-time jobs
  • Contribution to the employability of vulnerable populations (women and unqualified youth)
  • Better structuring and organization of the company
  • Establishment of good governance
In portfolio since: 2022

Fruits & Berries

Sector of activity: Agro-food
Status: Financement d'amorçage
Entrepreneur: Youga GUISSE
Country: Senegal
A propos:

Fruits and Berries is a Senegalese company that specializes in the production of fresh fruit smoothies and juices made from blended or squeezed fruit, with no additives, added sugars, conservatices or coloring.The company targets consumers who are aware of the health issues related to the consumption of industrial beverages and who value the nutritional value of fresh fruit-based drinks.

The entrepreneur

Fruits and Berries was founded by Youga GUISSE, a Senegalese entrepreneur passionate about agriculture. He graduated in Economics and Finance from the University of Bristol in England and holds a master’s degree in Economic Engineering from the University Pierre Mendes de Grenoble in France. He has more than ten years of experience in digital transformation.

Partnership with I&P and Teranga Capital

Fruits & Berries is supported by Teranga Capital and I&P through I&P Acceleration in Sahel. This partnership aims at :

  • Set up a production unit in keeping with hygiene and quality standards
  • Increase the production capacity with more efficient equipment
  • Develop a distribution network through partnerships with supermarkets, gas station stores, hotels, cafés and restaurants
  • Increase the company’s visibility and build a strong brand image
In portfolio since: 2022

MSA

Sector of activity: Agro-food
Status: Financement d'amorçage
Entrepreneur:  Ibrahima BEYE, Sidy Yeslem CHEIKH SIDY VALL
Country: Senegal
A propos:

Multiservices Agricoles (MSA) is a company in Senegal specialized in the processing of locally grown paddy rice.

Since 2020, the company has specialized in the production of parboiled rice through a process of pre-cooking paddy rice in water, allowing the grain of the cereal to absorb the vitamins and minerals present between the hull and the grain of the rice. The production unit is located in Rosso (northern Senegal), in the Senegal River Valley. In 2021, MSA produced 34 tons of parboiled rice, which is sold in traditional markets, convenience stores, gas station stores, wholesalers, e-commerce sites and to individuals.

The entrepreneurs

MSA was founded by Ibrahima BEYE and Sidy Yeslem CHEIKH SIDY VALL.

Partnership with I&P and Teranga Capital

MSA benefits from I&P Acceleration in Sahel program implemented in Senegal by Teranga Capital, whose objectives are to :

  • Support the company in its distribution strategy (modern trade)
  • Strengthen the company's positioning in the traditional segment

About Teranga Capital

Teranga Capital is the first impact investment fund dedicated to the financing and support of Senegalese SMEs and start-ups. Headed by Olivier Furdelle, Teranga Capital is the third African fund sponsored by Investisseurs & Partenaires under the I&P Développement 2 program. The network currently includes a fund in Niger (Sinergi Niger), Burkina Faso (Sinergi Burkina), Ivory Coast (Comoé Capital) and Madagascar (Miarakap). → Find out more about Teranga Capital

 

In portfolio since: 2022

Zoé Industry

Sector of activity: Agro-food
Status: Financement d'amorçage
Entrepreneur: Jacob et et Claudia Ouedraogo
Country: Burkina Faso
A propos:

Zoé Industry is a company specialized in the transformation of local plant leaves, mainly moringa oleifera, into infusion tea in Burkina Faso. 4 flavors of tea mixed with moringa are currently on sale: moringa-hibiscus (bissap), moringa-kinkeliba, moringa-ginger and moringa-citronella.

The entrepreneurs

Zoe Industry was founded by Jacob and and Claudia Ouedraogo in 2016. 

Partnership with I&P and Sinergi Burkina

Zoé Industry is supported by Sinergi Burkina through the I&P Acceleration in Sahel.

The support provided to the company will allow it to :

  • Strengthen its production capacity
  • Improve the quality of its tea
  • Improve its reputation
  • Strengthen its structuring

About Sinergi Burkina

Created in 2014, Sinergi Burkina is the first impact investment fund dedicated to financing and supporting SMEs and start-ups in Burkina Faso. Headed by Job Zongo, Sinergi Burkina is the second investment fund sponsored by Investisseurs & Partenaires as part of the I&P Développement 2 fund. The fund network currently includes a fund in Niger (Sinergi Niger), Côte d'Ivoire (Comoé Capital), Senegal (Teranga Capital) and Madagascar (Miarakap).  → To learn more about Sinergi Burkina​

In portfolio since: 2022

iProcure

Sector of activity: Agro-food
Status: Investissement en capital
Associed fund: IPAE 2
Entrepreneur: Stefano Carcoforo, Nicole Galletta
Country: Kenya
A propos:

Incorporated in 2014, iProcure is a Kenyan agricultural supply chain platform operating in rural areas within East Africa.  

In addition to procurement and last mile distribution services to agro-dealers, iProcure provides business intelligence and data-driven stock management across the supply chains. 

The platform offers a variety of services to consolidate the fragmented supply chain in rural areas:   

  • Warehousing and last mile services: iProcure supplies fertilizers, seeds, animal feeds and agro-chemicals such as fungicides. The company buys the products from local manufacturers and suppliers and distribute them to distributors and retailers through 9 warehouses, 12 depots and 30 trucks 
  • Data-Driven distribution: iProcure provides real-time business intelligence and helps distributors and retailers track sales, manage inventory and procurement 
  • SaaS model: iProcure provides the software to their agro-dealers, together with a Point-of-Sale hardware. This is in the effort to digitize the sector, where information is generally inaccurate and unreliable. The Point of Sale platform helps to make the rural agro-dealers more efficient because they are able to track their sales, costs and inventory. The platform can also be used by other logistics and distribution players operating outside the agricultural sector

iProcure has started expanding to Uganda by installing the Point of Sale platform at the agro-dealers within the country, and will eventually launch a full scale expansion to Uganda and Tanzania. The company is also considering expansion to West Africa, using the vast experience they have already gained.  

THE ENTREPRENEURS

The company was co-founded by Stefano Carcoforo and Nicole Galletta: 

  • Stefano Carcoforo, born in Kenya, is currently the CEO of iProcure. Prior to founding iProcure, he worked for Philips Engineering as a Systems Engineer and for a number of large development projects in Cameroon and Haiti. He did his bachelor’s degree in Mechanical Engineering and Masters in Business / Project Management
  • Nicole Galletta is co-Founder and Head of Innovation. She is responsible for onboarding retailers and distributors in Kenya and Uganda. Previous to founding iProcure, Nicole worked as an Urban Planner and GIS Expert for UN Habitat, and Geographic Information Manager for FAO. She has a Master’s Degree in Urban / Environmental Planning

PARTNERSHIP WITH I&P

  • Supporting the growth of the company in East Africa, starting with Uganda  
  • Further expansion into more counties in Kenya 
  • Increasing the company’s capacity to use data to make the operations more efficient 
  • Supporting the company in their quest to brand their own products 
  • Improving the website and social media presence 

EXPECTED IMPACTS

  • iProcure improves access to essential products for the rural farming population 
  • Digitisation of agro-dealers using iProcure’s Point of Sale platform, which will over time, help to switch the agro-dealers from manual record keeping to digital records. This also helps the traders to forecast their inventory needs, and reduce pilferage within their shops 
  • Increasing traceability of the agricultural inputs being sold to farmers – over time, this will help understand and reduce environmental impacts of these inputs 
  • Growth of a Kenyan start-up expanding across East Africa and eventually West Africa, creating significant employment within the urban, and especially rural areas 
In portfolio since: 2022
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