Kenya - Business creation project

Describe your project or startup in a few words

Peanut production in the globally is skyrocketing, so putting future peanut crops to good use will take new and innovative approaches and requires attention now to set farmers and the industry up for success.

01.01 Describe your project in more detail

Peanuts have a variety of uses but peanut edible oil processing sector has not been exploited especially in Kenya hence creating a gap that needs to filled. This value addition chain will create new farmers hence helping bridge the unemployment gap in the country. Peanut oil makes an excellent cooking oil with a long fry life, so increased market penetration for cooking oil is a no-brainer. Peanut oil also has excellent potential as a biofuel. With current peanut oil levels of 45-50% — and breeders reaching for 60% or more — peanuts can produce about 50% more oil per acre than soybeans (1). The oil can also be used in the development of bio-based plastics. The meal that is left after crushing is high in protein and is an excellent poultry and animal feed, these are well separated from peanut kernel after oil extraction hence creating two products in one production line process.

01.02 What is the main problem you are trying to solve?

Most of us are familiar with the problems of hunger and malnutrition across the world, especially in developing countries. Problems with the world food supply remain a serious matter. It is receiving increasing attention by the WHO and other international aid agencies these days are an issue called the “epidemiological transition” by public health scientists. The epidemiological transition refers to a now well-established phenomenon that, as countries develop economically, Through this project I am aiming to solve the problem of economic inequality by providing a new source of income to residents, providing a cheaper, more affordable, and nutritious cooking solution, and an also helping in Bridging the unemployment gap.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

Peanut oil is a popular cooking oil due to its nutty and mild flavor. It has been linked to lower rates of cardiovascular disease, reduced blood sugar in people with diabetes, and reduced tumor growth. Peanut oil has been associated with several health benefits. Some research has indicated it may lead to better heart health in people with diabetes. Additionally, it is an excellent trusted Source of vitamin E. This antioxidant supports the immune system, protects the body from free radicals, and keeps blood cells healthy. However, peanut oil has large quantities trusted Source of omega-6 fatty acids these acids are important to health. Peanut meal also have a very high protein level which is good for feeding animals and poultry.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

The targeted beneficiaries of this project are the farmers, general consumers by giving them a cheaper and nutritious alternative of cooking oil, and animal and poultry farmers by providing them with a high level protein feeds for their animals.

01.05 When did you start working on your project?

2000-04-10

01.06 How many other partners are associated with your business venture?

1

01.07 Among the other partners, how many are female?

0

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

As an Economist, she has extensive skills in studying and analyzing the production and distribution of various goods and resources. She has extensive knowledge in the working with financial and socioeconomic data and statistics, advising organizations on effective business and financial decisions and building models for economic projections.

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

01.10 Which industry best describes your project?

b) Materials (agriculture, fishing, chemical products, construction materials, containers and packaging, metals and mining, paper and forest products)

02.01.01 My project contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification

Economic empowerment is one of the major ways of dealing with poverty. This project aims to achieve through having more individuals farm peanuts and have a ready market for them. Currently, according to the most farmers are carrying out small scale farming due limited market access and low prospects for value addition. Through this project model we will have increased demand for the product as a raw material therefore encouraging its large scale production.

02.02.01 My project contributes to the Zero hunger goal

5

02.02.02 Zero hunger - Justification

Most of us are familiar with the problems of hunger and malnutrition across the world, especially in developing countries. Problems with the world food supply remain a serious matter. It is receiving increasing attention by the WHO and other international aid agencies these days are an issue called the “epidemiological transition” by public health scientists. The epidemiological transition refers to a now well-established phenomenon that, as countries develop economically, Through this project I am aiming to solve the problem of economic inequality by providing a new source of income to residents, providing a cheaper, more affordable, and nutritious cooking solution, and an also helping in bridging the unemployment gap.

02.03.01 My project contributes to the Good health and well-being goal

5

02.03.02 Good health and well-being - Justification

Peanut oil is a popular cooking oil due to its nutty and mild flavor. It has been linked to lower rates of cardiovascular disease, reduced blood sugar in people with diabetes, and reduced tumor growth. Peanut oil has been associated with several health benefits. Some research has indicated it may lead to better heart health in people with diabetes. Additionally, it is an excellent trusted Source of vitamin E. This antioxidant supports the immune system, protects the body from free radicals, and keeps blood cells healthy. However, peanut oil has large quantities trusted Source of omega-6 fatty acids these acids are important to health. Peanut meal also have a very high protein level which is good for feeding animals and poultry.

02.04.01 My project contributes to the Quality education goal

3

02.04.02 Quality education - Justification

By increasing money into the pockets of parents, they can be able to afford a better and quality education for their children.

02.05.01 My project contributes to the Gender equality goal

5

02.05.02 Gender equality - Justification

Majorly, farming in Kenya is done by the youth and women. This will bring about more job opportunities to women and youth from low skilled workers to highly skilled workers.

02.06.01 My project contributes to the Clean water and sanitation goal

3

02.06.02 Clean water and sanitation - Justification

02.07.01 My project contributes to the Affordable and clean energy goal

3

02.07.02 Affordable and clean energy - Justification

02.08.01 My project contributes to the Decent work and economic growth

6

02.08.02 Decent work and economic growth - Justification

Through encouraging farmers to practice large scale farming, many people will be employed from low skilled to highly skilled workforce in the farm and also factory workers which can then hence lead to economic growth through the value chain.

02.09.01 My project contributes to the Industry innovation and infrastructure

6

02.09.02 Industry innovation and infrastructure - Justification

Through peanuts farming, there will increased demand in farm inputs fostering industrialization and improved infrastructure for the rise of a new need to access markets more efficiently.

02.10.01 My project contributes to the Reduced inequalities goal

5

02.10.02 Reduced inequalities - Justification

This project will contribute mainly in reducing economic inequality. Even though the impact might not be felt in the conception stages of the project, in the long run through expanded workforce and farming activities to meet market needs, economic equality might be reduced.

02.11.01 My project contributes to the Sustainable cities and communities goal

3

02.11.02 Sustainable cities and communities - Justification

02.12.01 My project contributes to the Responsible consumption and production goal

4

02.12.02 Responsible consumption and production - Justification

02.13.01 My project contributes to the Climate action goal

4

02.13.02 Climate action - Justification

02.14.01 My project contributes to the Life below water goal

4

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

4

02.15.02 Life on land - Justification

02.16.01 My project contributes to the Peace justice and strong institutions goal

4

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

4

02.17.02 Partnerships for the goal - Justification

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

5

05.02 The product/service we envision creating represents an entirely new type of product/service.

3

05.03 The product/service we envision creating could be described as a new technology.

2

05.04 The product/service we envision creating is an improvement on an existing product or service.

2

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

7 - Strongly Agree

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

5

05.07 The product/service we envision creating is a new version of an old product/service.

1 - Strongly Disagree

05.08 Justification

The project envisions to create an extension of existing products in the market. There already exists peanut product in Kenya and cooking oil from other plants such as sunflower but no peanut oil currently in the Kenyan Market. This will fill the market gap mainly Kenya and Africa by introducing an alternative healthier cooking for the Kenyan market and Africa at large.

05.09 Who are your main potential competitors and what makes you stand out from them?

The potential competitors are companies that produce the similar product, that the cooking oil but from different plants. Currently, sunflower cooking oil poses a still competition since it is the the most widely used both for domestic and commercial purposes. This new product that I intend to introduce into the market will pose a fair competition to those other products from pricing up to nutritional value. Peanut oil is majorly rich in Omega 3 and 6 that other cooking oils currently in the market don't have and the few that have are too expensive and out of reach for low income earners.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

NO!