Norish is a food processing (FAMIX) and animal feed company located in Addis Ababa, Ethiopia. It is the largest FAMIX in the country with installed capacity of 30,000 metric tonnes. It is also one of the largest animal feed producers in the country with capacity of +/- 10,000 tonnes. Its main product is Supercereal, which has three product categories: Corn Soya Blend (CSB), CSB+ and CSB++.
Norish’s sales from food processing were dependent on orders from large donor agencies and the company was operating at high costs, at 30% of its installed capacity. The company had 8 non-operating silos and was therefore unable to purchase raw materials in bulk during harvest season for use during the dry season.
The AAF SME Fund committed $4m to Norish in March 2015. This went to finance land and buildings, silo refurbishments, plant and equipment and vehicles to improve efficiency and effectiveness of operations. About 60% of the funds went to finance working capital – purchasing of inputs, payroll, marketing and promotion. The Fund is also taking steps to re-align the company’s strategy towards a more commercial approach and expand its existing customer base.