Company Name
FreshCrop Limited
Incorporation Date
2019
industry
Seed Production (Agriculture) - Certified
Headquarters
Nakuru, Kenya
Issuance Type
Venture Capital
Status
Closed
DISCLAIMER
An investment in these securities involves a high degree of risk. In making an investment decision, investors must rely on their own examination of the underlying securities and the terms of the offering, including the merits and risks involved. Investors are encouraged to seek independent financial advice. You should only invest in these securities if you can afford a complete loss of your investment. You should read through all of the relevant offering documents in their entirety first before making an investment decision.
The information presented here does not constitute investment advice or a recommendation and is not an invitation to invest. If you are interested in learning more about the opportunities available, please contact us or follow our online forms and we will guide you through the necessary steps to invest, including KYC (know-you-customer) and AML (anti-money laundering) procedures. This offering has not been reviewed or approved by any regulatory bodies and is made on a private basis.
IMPORTANT CONSIDERATIONS
Early Stage
As with any new company, there are challenges that a business will face when establishing itself in an industry. These challenges include a lack of team experience and depth, a lack of funding, a lack of knowledge when establishing a new company (i.e. corporate governance and regulation requirements) and a general desire for the entrepreneur to see the business through to the point that it is profitable and self-sufficient.
The company will be working with market professionals to assist it in establishing key areas to manage and ensure the long-term success of the business. These areas include getting access to capital, access to technology, corporate governance documents and strong corporate infrastructure. This will help the company establish a strong foundation for growth and expansion of the company.
East Africa
FreshCrop offers its products and services to the Kenyan market with a view to expand to other countries within East Africa. Initially, the company will focus on Kenya in order to minimize costs and manage the seed production process closely. The company is headquartered in Nakuru, Kenya and has farms throughout the country in several different counties.
Blue Ocean
Kenya (at the time of this writing) imports nearly 95% of its potato seeds from abroad. This provides a massive opportunity for FreshCrop to produce high quality potato seeds in a cost efficient manner. Due to the climate in Kenya, FreshCrop is able to produce seed year round, which provides a big advantage in comparison to its counterparts in Europe and North America that export seed to Kenya. The Quality of potato seeds imported into Kenya is very low and is not suitable for large scale potato production in Kenya. The potato seeds produced by FreshCrop are between 300% and 600% more productive than the seed that is imported, making it suitable for small holder farmers to make a profitable business in potato production and seed multiplication.
Mission
To significantly increase potato production in Kenya (with expansion in Africa) by empowering farmers and other actors along the entire value chain using climate smart agricultural practices and contributing to food security.
Vision
To be the leading producer of quality potatoes in Africa.
About FreshCrop
FreshCrop Limited is a private company established under the laws of Kenya with incorporation number PVT-BEUA2ED . The company is a newly formed potato seed production company (est. 2019) based in Nakuru, Kenya. The company was formed to provide a solution to farmers within Kenya for quality potato seeds. As it stands, potatoes are the second most consumed crop in Kenya, grown by over 800,000 small holder farms on 158,000 hectares of land, requiring 300,000 tons of of potato seeds per year. Nationally, certified seed production in Kenya currently meets less than 2% of the demand. This lack of access to quality seed and planting materials leads to high disease rates in crops, poor production, low profit margins for farmers and general food insecurity.
FreshCrop's decentralized seed model is aimed at increasing potato breeder seed production and rapid seed multiplication by utilizing apical root cuttings. The company aims to achieve its objectives by establishing hubs for breeder seed in various potato producing zones to provide nearby farmers access to certified seed as well as technical support from the local hub site.
Through the development of these hub sites, FreshCrop will provide the farmers and bulkers access to material, processing, technology, harvesting and distribution of seeds. Additionally, the hub sites will serve as the first phases (similar to a nursery) of development and bulking of potato tissue culture into seed that is ready for mass bulking.
How FreshCrop Gets it done
Use of Funds
FreshCrop will be using the funds in the following manner:
Overall, the company also seeks to invest in and develop additional locations and facilities, as well as invest in technology, equipment and tools.
FreshCrop has established clear opportunities to expand into the following locations:
FreshCrop plans to set each hub site up with storage, mechanization, processing and extension services.
FreshCrop plans to invest in the following technology:
FreshCrop plans to invest in tractors, harrows (18 disc), harvesters, motorbikes, diffuse light storage, climate smart irrigation, borehole and related equipment, sanitary dip and facilities, ploughs, potato planter/ridger, boom sprayer, storage facilities, screenhouses, rainwater harvesting solutions, fencing and CCTV.
Chris Gasperi
Managing Director
Ashley Gasperi
Director
Brendan Ireland
Director
Issuer:
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Dividend:
FreshCrop Limited
Kenya
Nakuru
KES 25,000,000
KES 500,000
Class B Shares (Special Rights)
FreshCrop Buy-Back Clause
20.00%
KES 125,000,000
2020
Transferrable Securities
Private Offer
Perpetual
Variable - Target of 4X / 5 Years
Variable - Target of 5.00% p.a.
Milestones
Downloads
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