Inqo Investments Limited Investment in Kentegra Biotechnology Holdings LLC (0502Z)
09 Janeiro 2020 - 4:00AM
UK Regulatory
TIDMINQO
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 Tel: +27 (0)83 6254069
Chief Operating Officer
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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END
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January 09, 2020 02:00 ET (07:00 GMT)
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