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Inqo Investments Ltd - Investment in Kentegra Biotechnology Holdings LLC


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Inqo Investments Limited · INQO

09/01/2020 07:00

Inqo Investments Ltd - Investment in Kentegra Biotechnology Holdings LLC London Stock Exchange
RNS Number : 0502Z
Inqo Investments Limited
09 January 2020
 

Investment in Kentegra Biotechnology Holdings LLC

 

Inqo Investments Ltd, the NEX Exchange-listed ('INQO') social impact investment company today announced an investment in Kentegra Biotechnology Holdings LLC, a Kenyan based biotechnology company producing the natural insecticide pyrethrum.

 

Kentegra is a Kenyan based biotechnology firm owned by the US holding company, Kentegra Biotechnology Holdings LLC. Kentegra produces pyrethrum, a natural active ingredient from the chrysanthemum flower, for use in the home biocide, agricultural and pharmaceutical pesticide markets. The chrysanthemum flowers must be grown in very specific conditions in order to produce pyrethrum - these conditions are found in only a few places around the world, predominantly East Africa (Uganda, Rwanda, and Kenya) and Tasmania. With ideal growing conditions, Kenya was once the largest producer of pyrethrum in the world until poor management and synthetic alternatives led to a major decline in the nationalised industry in the early 2000s. In 2013 the Kenyan government liberalised the pyrethrum sector in a concerted effort to revive the industry and support the growing worldwide 'organic' movement. Kentegra is one of the six companies in Kenya with a licence to produce pyrethrum.

 

The current natural or 'organic' pyrethrum market is constrained by supply due to the specific conditions required to grow and produce pyrethrum. Kentegra has established relationships with buyers in Europe, Africa and Asia. Currently demand is predominantly from the home biocide market. However, with synthetic pesticides for agricultural use increasingly regulated due to their negative environmental impact, this market is also likely to expand.

 

Chrysanthemum flowers grown for pyrethrum can be harvested every two weeks for nine months of the year. Pyrethrum produces a higher and more regular income for farmers than other staple and cash crops such as corn, beans, potatoes and cabbage. Kentegra's farmers earn four times more revenue per acre growing pyrethrum than any other crop - a potentially life changing increase in income. Kentegra currently has 3,000 farmers contracted with the aim of reaching ten times this number over time.

 

Kentegra tracks a number of metrics such as education, standard of housing and access to electricity to measure social impact.

 

Enquiries

Inqo Investments Limited

 

Chris Bertie, Chief Financial Officer and Chief Operating Officer

Tel: +27 (0)83 6254069

 

 

Shard Capital Partners LLP

 

ISDX Corporate Adviser and Broker

 

Dr Wang Chong

Tel: +44 (0)20 7186 9948

 

About Inqo Investments Limited

'INQO' (www.inqo.co.za) is a South Africa-based social impact company listed on the London ISDX Growth Market. It makes strategic acquisitions and investments in businesses designed to tackle poverty and provide employment, products and services to the poor in Low Income Countries (LICs).

 

 

 

 

  

 


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