[Kwara]–The Senate President, Senator Abubakar Bukola Saraki has recently celebrated the success of the Shonga Farm in Kwara State.
In a post on his official Facebook Page, he said, ” From being a small farm in Kwara, now, Shonga, is a priced jewel in Africa. The decision by Country Bird Holdings (CBH), one of the largest poultry companies in Sub-Saharan Africa to acquire a majority stake in Valentine Farms Ltd., Shonga is a testament to the success of the farm.
“Posterity will always be the greatest judge.”
“From being a small farm in Kwara, now, Shonga, is a priced jewel in Africa. The decision by Country Bird Holdings (CBH), one of the largest poultry companies in Sub-Saharan Africa to acquire a majority stake in Valentine Farms Ltd., Shonga is a testament to the success of the farm,” he added.
Saraki further recounted, “When we first started the project when I was the Governor of Kwara State, people were attacking the idea saying that it could not be done. Many said that it was not sustainable. Many others said that the farm belonged to me. Still, others said that it would not benefit the State and invariably, the country.
“Years later, the facts are speaking for themselves.
“When it started, Shonga Farms was producing only 12,000 birds a week. Now, they are producing 20,000 birds a day!Back then, it only employed a handful of people, now, it employs over a thousand people!”
Recall that Shonga Farms Holding Limited (SFH), made up of 13 commercial farmers, was incorporated in 2005 as a Special Purpose Vehicle to facilitate public-private partnership in respect to the commercial farming project of Kwara State Government under the leadership of the Governor, Dr. Bukola Saraki.
SFH was specifically established to finance activities in the farm. The five banks involved in the financing of this initiative are Guarantee Trust Bank, Intercontinental Banks, Unity Bank, Fin Bank and Bank PHB.
The banks own seventy-five percent equity while the state government owns twenty-five percent equity.
The Shonga Farms Holding on the other hand owns sixty percent equity in each of the 13 farms, leaving the farmers with forty percent equity.Please Follow Us @ThePageNg