IY-Farm is a livestock farm, focused on rearing, slaughtering ,packaging and Marketing of livestock products for human consumption. Mr. Ihuoma Chinonso the Co-founder of IY-Farm and Tony Elumelu Foundation Alumni reveals the business opportunities in Livestock Value Chain.
Tell Us about yourself
My name is Ihuoma chinonso, a graduate of Federal University of Technology Owerri , Imo State, Nigeria. I am a Social Entrepreneur, Co-founder of IY-farm ltd, C.O.O @ E-horticulture,a climate change advocate, Program& Associate partner at Student business club and a TEF alumni
What does your farm offer?
IY-farm is a livestock farm, we rear,sell, slaughter,clean and package for human consumption. We are on a mission to combat and to fill the gap in quality and hygienic meat supply in Nigeria. The company’s ultimate goal is to build a modern hygienic abattoir and processing factory with the necessary chillers and freezers to maintain appropriate level of cold chain to prevent carcass from going bad..so that everyday people can buy meat from our meat hubs
We also offer absentee farming for both livestock and arable crops .
Tell us more about the founder of this company, what motivated him/her to embrace this line of agribusiness?
The livestock value chain is one that has been neglected over the years, we have poor meat processing method, which leads to so many ill health.
This slaughtering process is done in dirty contaminated environment and there is little or no cold chain to prevent the carcass going bad. This present system of meat production, marketing, slaughter and processing result in low weight gain, carcass yield, losses of by-products and supply of poor quality and unhygienic meat to consumers. The cattle are slaughtered at low body weight and in very bad condition.
It was to remedy the production of tough, bony and unhygienic meat that i founded IY-Farm with my other team members to provide tasty beef from young bulls fattened for a minimum of 100 days in the farm with natural grains.
How was he able to raise startup capital? Youth tend to be limited when it comes to kick starting an agribusiness because of lack of capital. How were you able to source for start-up funds?
Raising money was not easy for us at Iy-Farm, we had to bootstrap our selves before we got our first funding from the Tony Elumelu entrepreneurship foundation.
Is your line of agribusiness profitable, please share your experiences and opportunities .
The agriculture value chain generally is profited it all depends on the choice of who ever that wants to go into Agriculture
Have there been challenges, how did you overcome them?
Challenges yeah , we had so many challenges, but persistent brought us this far
What are the things required to start your line of agribusiness? Any registration or training required?
Livestock farming and processing is very capital intensive,you will need a land for rearing of livestock , chillers, Freezers and other livestock processing machine.
Do you support our youth to embrace your line of agribusiness this 2020 and why?
Anybody can go into it but it’s capital intensive, and requires a lot from who ever that wants to go into it.
Do you run trainings for interested persons online or offline? Tell us about your training package and how people can contact you.
We run training for setting up livestock farms like snail farming, poultry etc . We run online training and guide you to setup any of the livestock farm you want to setup . My phone is +2348101703579
Finally, your word of advice to our youth on agribusiness.
Agribusiness is a very good one, is capital intensive, time consuming and requires patience, so if we want to go into Agriculture, we must put on our shock absorber.