A start-up company built on friendship seven years ago is now the second largest supplier of chicken and other poultry products in Addis Ababa, the capital and largest city of Ethiopia.
Friendship Agroindustry started in 2010 when a group of friends came together to start a poultry farm. They put together their personal savings and took a loan of $3,500 as capital.
“The company registers remarkable growth every year especially in terms of sales. I can cite for example last year we had sales of about 1.6 million dollars,” one of the company’s stakeholders disclosed.
“This quarter we have registered more than 800,000 dollars in sales, which means we expect more than 1.7 million dollars in sales at the end of the year.”
Friendship also processes and sells chicken feed and manure to farmers and run a program where it partners with suppliers who help market their products.
Farming is a main source of income for more than 60 percent of Africa’s labor force, making agriculture as an effective tool to fight poverty.
Ethiopia is one of Africa’s most populous countries with a large market demand and supply base.