| Project | Netsanet Weldeabzegi poultry farm |
| Investor | 2 Investors from the Netherlands via the 4YBIN Revolving Fund |
| Period | 12 months, starting July 2024 |
| Location(s) | Mekelle, the capital of Tigray, Ethiopia |
| The story | Netsanet Woldebzgi Poultry farm is designed before nine years (2015). My private owned company had no license during the business start-up but later when my business grew up & expanded, I became licensed (2020) as ‘’Emnet Poultry Farm’’ and continued my business as day old chicken out-grower. As a woman and coming from a farmer family, I have developed the interest of rearing animals such as, sheep, goat, cattle and particularly chickens. As a result, when I completed my diploma as a nurse and worked for two years in a rural clinic, I got married to a journalist and which helped me in shifting my mind into business and left my previous job as nursing instead to start a full-time poultry farm. I started my poultry farm borrowing 50,000 Birr from micro finance and renting a shelter in a village nearby Mekelle city called Debri. I started my first business buying 500-day old chickens and, lucky enough, sold them all after growing them for two months, i.e., with a tolerable mortality which is less than 2%. This encouraged me to double the business and increase our stock every time. The continuous growth of the business also encouraged my husband to quit his public service as a journalist and became a fulltime worker at the farm center with me. Owing to our success in the business, the city municipality granted us a 600m2 working space where we constructed two (30m* 8m and 25m*8m sheds) using our saving. Then, we expanded the business to include a small-scale poultry slaughterhouse and started to slaughter and pack poultry units and distribute them in Mekelle and send to our customers in Addis Ababa renting fully refrigerated truck. As our business grew and owning 6000 chickens at a time unfortunately, a war started in Tigrai regional state in November 2020, which had a great disaster to our business. We were forced to sell all chickens out at lower price and terminate all our employees except two guards. Currently though we are on the process of restoring our business as day old chicken out grower and growing up to 45 days chicken and supplying to our customers who are found in rural and urban poultry farmers for further process, we are suffering from shortage of finance to fully restore the farm and expand the business activities. Thus, raising additional finance is required to meet the increasing demand and create job opportunity for youth especially to young women who are directly affected by the war in Tigray. Implementing the business plan will require ETB 1,021,240.00, which will be used to cover working capital requirements for the first production cycle and capital expenditure. The promoter of the project will raise ETB 221,240 and ETB 800,000.00 will be raised from investment of 4YBIN. Emnet Poultry will focus on the production poultry meat chicken and eggs in the planning period. Emnet poultry will start generating positive profit beginning from the first year of operation. Furthermore, Emnet poultry will generate positive cash flow during the planning period indicating that the business will not face cash shortages in financing its operations. Consequently, Emnet poultry will return investment of 4YBIN in the last six months of the first year of operation. |
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