- Loan Successfully Funded On 20 Dec 2023 ​
Scaling nutritional porridge to overcome malnutrition in young children in Kenya
Edom Nutritional Solutions
- Kisumu, Kisumu County, Kenya
Menu
- 41,700 USD
Loan successfully funded
Edom Nutritional Solutions supplies pre-cooked, ready-to-use (RTUF) nutritious porridge flour to over 180 schools in three Kenyan regions. They buy bulk grains, mainly amaranth, annually to ensure a steady supply and stabilize costs. The loan will fund these purchases, with $5,000 allocated for a setup fee with Marquee Capital, which will assist ENS in raising $750,000 to expand and supply RTUF porridge to 250 more schools as part of the feeding program.X
- 6 Lenders
Committed
- 10 months
Loan Period
- 10%
Interest Rate
- BACKGROUND
Loan summary
Edom Nutritional Solutions (ENS) is a Kenya-based company that produces fortified flours enriched with key vitamins and minerals to help mitigate the growing issue of malnutrition in Sub-Saharan Africa. The company sources 2 natural additives; amaranth and moringa oleifera, from its network of over 1,500 smallholder farmers in Uganda and Kenya. ENS then mills into micronutrient packed porridge flour at its processing plant in Kisumu County, South West Kenya.
The team currently services over 180 schools, and each year they purchase bulk quantities of grains – mainly amaranth – to ensure consistent supply. The loan will support the purchase of these grains, with an additional amount of $5,000 set aside to pay for the set up fee with Marquee Capital. This fee unlocks the full service as Marquee will help ENS raise USD$750,000 in capital to expand and supply RTUF porridge to over 250 schools as part of the school feeding program.
Borrower's mission
ENS is led by Winstone Odhiambo, the Founder & CEO. He is an Agricultural Economist with over 9 years of experience. The ENS co-founder is Domintina Nyanchama, a food & quality control technician with 6 years of experience.
Since inception they have been working with local educational institutions and farmers to create their product line that consists of cereals & fortified grain flours, all of which are enriched with locally-sourced organic moringa oleifera and amaranth, the combination of which provides the daily recommended intake of Iron, Vitamins A/B/C, Zinc, Calcium, and 15 other vitamins and minerals.
The activities funded by this loan are helping to achieve the above Sustainable Development Goals as defined by the UN.
Intermediary's experience with impact enterprises
For more than 8 years, Red Hat Impact has helped impact enterprises by raising capital and providing other kinds of business and strategy support. We have raised more than $3M from our network of impact investors, and loaned this capital to support 30 enterprises. We use a crowd-lending model to raise loan capital. As of May 2024, we maintain a 98% success rate on loan repayment. We establish close working relationships with all of the impact enterprises we raise debt capital for, and co-manage risks with them during the loan term.
- IMPACT
Impacts and how they are measured
ENS is a high social impact business that aims to mitigate the prevalence of malnutrition in rural Africa. Additionally, the company has a significant socio-economic impact on its smallholder suppliers by working directly with three farming cooperatives, thus eliminating the need for intermediaries and allowing for a higher price to go directly to farmers and conducts regular on-the-ground training to farmers to disseminate best practices. Furthermore, ENS has focused on minimising its environmental impact and is generating further revenues from recycling corn waste generated in the milling process to be used for chicken feed.
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