Ishyo Foods continues to impress with their dedication and commitment.
The business sells quality, locally made yoghurt and jam products which are sold in almost 50 supermarkets in Kigali.
The company's business plan comprises two phases.
The first phase mainly involves renovating the factory to meet the requirements of the Rwandan Food and Drug Administration (RFDA) and to install the machinery needed to increase production to meet current and future demand for their products.
The loan granted by OVO for the first phase is €22,500.
Here are the latest insights from their coaching team:
- Cooperation and Learning: Ishyo Foods has shown an exceptional willingness to learn and collaborate with others. The entrepreneur and Eelco and Karen, their coaches, engage in monthly online meetings to address challenges and find solutions. Additionally, they organize quarterly meetings with the investors, fostering transparency and trust.
- Incubator Success: Over the past six months, Ishyo Foods has actively participated in several incubator programs, reaping valuable insights and skills. Notably, they were chosen by Save The Children to develop probiotic yogurt for children, further expanding their product range.
- Wider Distribution: Ishyo Foods continues to extend its market reach. Their products can now be found in an increasing number of supermarkets. In a significant milestone, they've also secured contracts with three five-star hotels. To efficiently manage their growing distribution needs, they have enlisted the services of a cold distribution company for three days a week, enhancing their logistical capabilities.
- Challenges Amidst Success: Despite their achievements, Ishyo Foods faces challenges due to rising inflation and delayed customer payments. Managing these financial hurdles is a top priority.
- Streamlined Administration: Ishyo Foods is actively working on improving their administrative and bookkeeping processes. They've hired a dedicated accountant who is so invested in the venture that he is persuading local supermarkets to stock Ishyo's yogurt.
- Timely Reporting: In a display of professionalism, Ishyo Foods recently submitted their first interest and mid-term report on schedule, demonstrating their commitment to transparency and financial responsibility.
Ishyo Foods' journey is an inspiring example of growth and resilience in the face of challenges. Stay tuned for more exciting updates from this innovative company!
Learn more about this business and why OVO supports it.