Cordaid Investment Management’s disbursement to SOSAF contributes to the development of poultry sector in Mali, allowing local production to compete with imports and make the eggs and chicken more affordable for the population. Founder of SOSAF, young entrepreneur Mohamed Sanogo is committed to levelling up hygiene and safety standards in the sector.
After receiving a law degree abroad, Mohamed saw an opportunity on the rapidly growing poultry market and returned home to open a hatchery.
With the middle class growing in the country, the demand for chicken products is constantly growing. Together with import restrictions on chicken and fresh eggs (after an outbreak of Avian Flu), this presents an excellent opportunity for the local chicken farmers to scale the production.
Since the start of operations in 2015, SOSAF has doubled its production capacity to 21,600 eggs per week. The next step was production modernization. That's when Cordaid Investment Management stepped in with a 267,000 EUR investment. The loan enables SOSAF to refine bio-safety procedures and expand its delivery capacity. Purchase of the new trucks will help SOSAF to transport the animals long distances over poor quality roads and reach more rural farmers.
Not only this investment promotes import substitution, supports ESG standards in the Malian poultry industry, but creates employment opportunities for the local youth. Most team members are locally educated, young professionals who have been trained by Mohamed. With the expansion project, SOSAF expects to create 10 new jobs for people below 30 years, including three positions for women. In fact, the promoter wants to encourage youth poultry farmers by organizing free training for over 100 people.
“It is really exciting to be able to support professional and well-run youth-owned enterprises such as SOSAF. The energy of youth promoters is both infectious and inspirational, and Mohamed is genuinely committed to developing the poultry sector in Mali,” concludes Brenda Pennell, Senior Investment Manager at Cordaid Investment Management.