A team of agripreneurs trained by the Youth in Agribusiness Compact have recorded a gross profit of over ₦1,000,000 (about $2,580) after two live-broiler production cycles.
The agripreneurs made a return on investment of about 45% in 8 weeks. They attributed their success to the technical delivery of the compact’s agribusiness park initiative and the backstopping and monitoring activities provided by the Youth in Agribusiness compact which is also known as Empowering Novel Agribusiness-led Employment (ENABLE-TAAT).
Sponsored by the African Development Bank as part of its Feed Africa Initiative, TAAT’s main objective is to improve the business of agriculture across Africa by raising agricultural productivity, mitigating risks and promoting diversification and processing in 18 agricultural value chains within eight priority intervention areas.
The programme increases agricultural productivity through the deployment of proven and high-performance agricultural technologies at scale along selected nine commodity compacts such as cassava, Orange-fleshed sweet potato, aquaculture, small livestock, high iron beans, maize, rice, sorghum and millet, and wheat.
These work with six enabler compacts addressing transversal issues such as soil fertility management, water management, capacity development, policy support, attracting African youth in agribusiness and fall armyworm response.
Led by the International Institute of Tropical Agriculture (IITA), the ENABLE-TAAT compact, provides capacity building and technical assistance for the establishment and expansion of youth-led agribusiness enterprises along TAAT value chains such as high iron beans, cassava, fish, maize, small livestock, rice and orange-fleshed sweet potato.
The agribusiness park initiative was designed to backstop clustered agripreneurs during the early days of their business start-up. The backstopping may be in the form of infrastructure, services, mentoring and linkage.
Upon being trained from November to December 2019, the team of agripreneurs leveraged on the facilities at the incubation park for their start-up.
This poultry cluster, comprising 3 youth – Apawarisia Samuel, Obarijima Onyomi and Vivian Okuboyeio, have now completed two live broiler production cycles with resounding success.
The huge profit constituted a great motivation for the agripreneurs who are now convinced that agribusiness is indeed profitable. They expressed their appreciation of ENABLE-TAAT’s model of engaging youth in agribusiness which helps to break the major hurdle of uncertainties associated with start-ups. The model, according to the agripreneurs, boosted their confidence in taking calculated risks in investments.
Apawarisia Samuel, one member of the poultry cluster said, “For most of us who are new to structured business environment, the clustering experience has greatly improved our ability to work in a team, enhance our leadership skills, practice business ethics and improve inter-personal relationship with our colleagues, clients and customers”.
The agripreneurs have initiated the process of starting-up outside the incubation facility. Some of the trainees have also stocked birds outside the agribusiness park for the expansion of their enterprises.