Indigenous fish processing company is expanding its business into the global market following funding by state-owned Industrial and Commercial Development Corporation early this year.
CEER Processing Limited known for fresh, chilled and frozen fish products, through its ‘Big Fish’ brand has announced it is expanding internationally to markets within the European Union and The United Arab Emirates.
“With ICDC funding, we’ve now started exporting our products to the EU market, UAE and Hong Kong. We are also exploring other markets worldwide,” said CEER Processing Ltd Managing Director Mr. Ngotho.
Limited access to finance and the expertise needed to produce quality products was a major obstacle faced by the company before it entered into a partnership with ICDC.
“Huge potential of our products had been constrained by the absence of capital to fund expansion and the knowledge needed to deliver quality,” said Ngotho.
The partnership with ICDC has enabled the company to access funding for expansion and also provided it with opportunity for further funding to up-scale the business in the coming days.
“Kenya has huge aquaculture potential that has not been fully exploited although it has the capacity to leapfrog the country’s economic growth prospects,” said the ICDC Ag. Executive Director, Kennedy Wanderi.
Fish processed by CEER which is mainly the nile perch variety is caught in the clear waters of Lake Victoria. Once caught the fish is carefully iced and delivered to the Factory in Nairobi via special refrigerated trucks. The fish is then carefully inspected, cleaned, processed into fillet, packed and exported.
“ICDC is proud to have supported this initiative which will uplift the livelihoods of fishermen and women around Lake Victoria whilst increasing forex inflows into the country from an increase in the size of our country’s export market that is growing steadily,” said Wanderi, while noting that the factory’s production capacity is scalable toward enabling it to process more varieties of fish and fish by-products.
ICDC is Kenya’s premier development finance institution that offers customers both debt financing and tenured equity partnerships geared towards job and wealth creation in various sectors of the economy. In recognition of the fact that today’s SMEs will be tomorrow’s blue chip companies, ICDC is especially excited to be part of their journey of transformation.