Oluadepe Farms Nigeria Limited is an agribusiness company set up to take advantage of opportunities in Nigeria’s agriculture sector. We operate a complete aquaculture (Catfish & Tilapia) value chain (Hatchery, Nursery, Grow-out, Feed-Mill, Support Services, Fish processing and Marketing) leveraging economies of scale to build a sustainable business by adopting a performance based business model as assurance of the company values and integrity

We identified challenges facing smallholder farmers in the fish value chain, which is hindering their growth. And we build our business around the solutions for farmers to produce with assured quality of input and support to maximize profit.


Customer Problem:

 

High cost of imported fish feed
Low-profit margin due to high cost of feed with constitute 70% of the overhead cost
Lack of capital to finance the major overhead cost which is feed
Inability to access finance from the traditional banks
Limited access to Market
inefficient production facilities
Limited access to quality fish seedling

Value Proposition:

 

Input financing
Market linkage with organized market
Expand Market through value-adding process
Technical support according to need.
Technological support to optimize feeding and boost productivity
Localization of Feed Production
Supplies of verified quality fish seedling

Business Model

 

Our business model is performance based. We offer small holder fish farmer and medium size fish farmer the opportunity to scale by bridging the gap between what they have and what they can produce by offering input finance on our moderately priced high quality fish feed, technological and technical support to produce optimally, link them with organized market to sell their produce after which we recoup our investment.

Social Impact:

As a socially responsible business, we strive to solve social and environmental issue while maximizing our competitiveness and profitability. We are committed to adding value to our community by:

1. Providing capacity building and input at affordable prices to small holder fish farmers, women and youth interested in agribusiness.

2. Engage women and youth as producers, processors and marketer of different species of fish that can be cultured in Nigeria

3. Provide the technical and technological tools to produce optimally with a guaranteed market for their produce which we intend channeling into our processing facility for value addition.

The Ask:

We are seeking collaboration with seasoned animal nutritionist and scientists to help in formulating high quality fish feed using locally available raw material in Nigeria which will give cost advantage to imported feed.


We are seeking collaboration with Agribusiness professional to help improve on the overall business processes (HR, FINANCE, MARKETING AND BUSINESS DEVELOPMENT), grant writing and fundraising strategy.


We are seeking grants from donor agencies to support the research  and development.


We are seeking IMPACT  FIRST INVESTORS with patient capital to fund the project.


Fund Raising:

We are seeking $50,000 Equity investment first round funding as work capital to validate the business model with pilot project with 10 fish farmers in a cluster environment. At the pilot stage, we'll partner with small scale feed mill to use their facility on pay as you go service.

After successfully validating the business model, we'll raise a $500,000 second round funding in Equity, Debt or Hybrid to purchase capital equipment and working capital needed to launch a full scale operation which is expected to cater for minimum of 2500 farmer over a five year period. Ordering, shipping, delivery, setup and commissioning is expected to be completed withing six month and full operation is expected to commence the seventh month. We will be turning over the pilot project fund to sustain the business till the the commencement of full scale project.

Third round funding will be for the Processing facility which will consist of filleting machine, cold storage and fish drying machine. We plan to use the revenue from feed mill to fund the processing facility.


Usage of second round funding:

1. Capital Expenditure (40%)    

2. Recurrent Expenditure (16%)

3. Raw Material  (30%)

4. R & D  (12%)

5. Legal  (2%)

 

Return on Investment:

We estimate a three year gestation period and a high retention dividend policy in the first 10 years to improve working capital and support expansion.


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