AfricInvest-backed flower firm ventures into fruits, vegetables
Credible Blooms, a flowers exporting firm backed by private equity firm AfricInvest, is seeking approval to set up a 600 hectares project in Laikipia county for growing fruits and vegetables in a diversification strategy. FILE PHOTO | NMG
Credible Blooms, a flowers exporting firm backed by private equity firm AfricInvest, is seeking approval to set up a 600 hectares project in Laikipia county for growing fruits and vegetables in a diversification strategy.
The flower firm has applied to the National Environment Management Authority (Nema) for clearance.
“The proponent, Credible Blooms Limited, proposes to set up a 600 hectares fruits and vegetable farm for the cultivation and production of fruits, vegetables and herbs under irrigation for local and export markets,” said Nema in a recent gazette notice.
“The water for irrigation will be drawn from an abstraction of flood water from adjacent Pesi River and surface runoff from surrounding hills.”
Credible Blooms was started in 2011 by Eliud Njenga who serves as the CEO of the floriculture company that produces about 50 types of roses and exports to over 24 countries worldwide.
The company, which is backed by private equity firm AfricInvest as a debt financier since 2015, now wants to diversify from floriculture to fruits and vegetables.
Mr Njenga told the Business Daily in a phone interview that the next step after receiving the regulatory nod will be to raise money for the project.
“We bought this 600 hectares of land last year. We are taking steps to have compliance with regulations before we move to implementation. We have to fundraise. We are also looking for partnerships,” said Mr Njenga.
Credible Blooms owns two main flower firms including 12 hectares at the foot of Ngong hills and 21 hectares in the Rumuruti area of Laikipia county, helping it to export to countries such as Netherlands, Germany, Sweden, France, Norway, Japan, Australia, Russia, Hungary, Ukraine, China, the Middle East, and Nigeria.
The firm was employing over 550 people by December 2017, according to the AfricInvest Impact report for 2018 which disclosed that Mr Njenga started by leasing the Ngong Hills land for 10 years.
Mr Njenga, with the help of AfricInvest, then expanded the production capacity by completing the construction of the Rumuruti farm.
The entrepreneur has over 24 years of experience in floriculture, having started his entrepreneurial journey by creating Pigeon Blooms—a roses trading company.
