Ugandan chicken producer could receive funding from IFC

Leading producer of fresh and frozen chicken in Uganda, HMH Rainbow, is in line for a proposed investment from the IFC. The proposed commitment comprises a convertible C Loan of up to $5 million and an IDA Private Sector Window (PSW) loan of up to $2 million.

The investment will support the company’s $12 million capacity expansion programme comprising of: (i) construction of temperature-controlled broiler houses; (ii) improvement of abattoir operations including the installation of a spin chiller; and (iii) establishment of grain silos and bulk feed-dispatch systems.

HMH Rainbow is a joint venture between Ugandan businessman Alykhan Hudani (66.5% shareholding) and Rainbow Farms Investments Proprietary Limited (33.5% shareholding), a wholly-owned subsidiary of RCL Foods Ltd., a listed South African food manufacturer.

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