- Sector: Agriculture
- Country of operations: Côte d’Ivoire
Hatching a plan
Côte d”Ivoire’s poultry sector is still in the early stages of industrialisation, but it’s a development that’s gathering pace – and Proveto is playing a key role in it. The company produces hatching eggs, day-old chicks and animal feed that it sells to small and medium-sized breeders through a network of outlets across the country.
Proveto was founded in 1999 by its CEO, Dr Albert N’Guetta, a vet and a specialist in animal nutrition and tropical poultry. The company had to cope with political instability in Côte d’Ivoire from 2010 to 2012, but since then it has enjoyed dramatic growth. Key to this growth has been the backing of private equity firm Injaro Investments since 2013, enabling Proveto to develop into one of the country’s leading poultry companies.
The company has invested in the latest equipment to help it increase production. “This growth is a result of our strategy to deliver the best quality”
“Through Injaro’s investment, Proveto acquired state-of-the-art equipment that has increased our production capacity,” says Albert. “Besides financial support, Injaro has provided technical assistance in different areas, including governance and operations.” That support has helped the poultry provider triple its revenue and open additional outlets in different regions, adds Albert. “This growth is a result of our strategy to focus on the portion of the value chain that is under-served and to deliver the best quality.” Proveto expects its prospects for further growth to be enhanced by two wider trends: the expansion of Côte d”Ivoire’s’s middle class and the rise of out-of-home consumption, both of which are contributing to rising demand for processed and semi-processed products.
Albert says: “In order to take advantage of the dynamism of the sector and the general economic growth, Proveto envisages making additional investments and also hiring skilled staff, with an increase in our headcount of at least 50% by 2020.”