Production of catfish for reduction of malnutrition
We rear highbreed catfish due health benefits-Low in calories &fat,healthy fatty acids,complete protein,low in mercury& source of vitaminB12
I confirm that I am fully aware of the eligibility criteria, and based on its description, I am eligible to apply to the CSV Prize 2017.
Established (the solution has passed the previous stages and demonstrated success)
Annual budget in 2017 (USD)
Number of beneficiaries impacted so far
Secondary Focus Area
Headquarters location: Country
Headquarters location: City
Location(s) of impact
FEDERAL CAPITAL TERRITORY (FCT-ABUJA)
Problem: What problem is this initiative trying to address?
According to United Nation which Says 75,000 Children May Die Of Malnutrition In Nigeria. As an agent of Change-We have passion for changing human health by providing high-quality with standard catfish for human consumption to reduce malnutrition in children and adult who demand for catfish on daily basis due to rapid increase in human population with the current demand of 2.66million metric tons/annum while local production is only 0.78million.
Solution Summary: What is the proposed solution? What do you see as its most promising aspects for creating shared value?
SMARTFARMERS ENTERPRISES is a social enterprise that rears catfish at Gbagba farm in Ilorin, Kwara state (Nigeria). We work with farmers and youths in rural communities production of fish to ensure that rate of malnutrition in children and general people can be minimized and increase more intake of protein through catfish. It also helps increasing the skills of youths (employees) while making them commercially viable, means of livelihood,reduces crime rate in the Community,benefits the community through our corporate social responsibility projects,increases gross domestic product (GDP) of the country and increases internally generated revenue (IGR) of the state through payment of taxes.
Impact: What is the impact of the work to date? Specify both the social and the environmental impact of your work
Since inception in 2014, the underlisted information are our achievements;
We have reared 18,000 catfishes which means 18,000 people have been directly or indirectly benefited through consumption of catfish.
Our catfishes are affordable by everyone - in order to reduce rate of malnutrition in children
We have successfully trained ten (10) youths who have started their own fish farming business.
We supply locally in order to reduce risk of traveling of market women who travel very far to purchase catfish.
Based on our research in Ilorin, the number of malnutrition cases is reducing on daily basis.
We engage community and youths on importance of eating catfish daily.
Financial sustainability plan: How is this initiative financially supported? How will you ensure its financial sustainability long-term?
The startup capital was N422,990 which was raised from my personal savings (myself, family and friends). It was used for procurement of farm equipments and consummables, fish pond, store, juveniles and feed. The production cycle is period of 4 months and the minimum return on investment on each cycle is 40%.
Unique value proposition: What makes your initiative innovative? How does your project differ from other organizations working in the same field?
Our first-class customer services & details of nutritional values of our catfish make us standout.
Founding story: Share a story about the "Aha!" moment that sparked the beginning of this initiative.
•Market Risk-uncertainty of customers coming back to buy matured product based on consumers’ consumption despite the effort of the customer service of the company.
•Labour Risk-Lack of technical know-how of labour (employee) resulted into huge problem. Also, the rate of absenteeisn due to illness of employees threatened the business.
•Climate Risk-Too much or heavy rain fall caused overflow to fish pond thereby causing great loss.
•Price Risk-price risk varies significantly from one season to another. During festive period, there is low consumption of catfish.
•Environmental Risk-People living around the farm unintentionally pour chemical into dam/stream in which water is obtained from.
Where did you hear about the Nestlé Creating Shared Value Prize?