Kenya’s Chandaria Capital participated in a recent seed funding round with Nairobi-based Savannah Brands, an early-stage African-based food and beverage company. The investor, which is the professional investment arm of the Chandaria Group is the authentic eatables company’s first investor.
It is not disclosed how much was invested, but it is certain that Savanna Brands will use the funding to step on the gas, delivering food and beverage products that embody “Kenya’s restless independent spirit”.
Sourcing the entirety of its raw materials from across the continent, the investee produces snacks and drinkables produced from 100 percent fruits, vegetables and tea. Going by the brand name Nairobi Nibbles, the brand makes tasty snacks, which are also healthier alternatives to confectionery and crisps.
According to the World Bank Group, Africa’s food sector has the potential to create USD 1 Tn by 2030. Cullable from the Growing Africa: Unlocking the Potential of Agribusiness report, the current USD 13 Bn-a-year valuation of the continent’s food system could triple if governments and business leaders review their policies and bolster agriculture.
Their beverage brand, Kenyan Originals has a range of alcoholic ciders and non-alcoholic iced teas whose flavours are inspired by local ingredients and tastes. Savannah Brands has strong product presence in Nairobi and according to an official statement, will soon take its operations to serve entire Kenya.
The company was founded by Alexander Chappate, who currently occupies the CEO seat. She brings on board about eight years of brand building experience in Africa and the United Kingdom.
She has worked for Nestle, AB-InBev and Pernod Ricard to develop brands such as Kit Kat, Stella Artois and Jameson. Upon relocating to Kenya, she took cognizance the lack of quality products that championed the African story. She set up Savannah Brands to address this problem.
Darshan Chandaria, CEO of Chandaria Group, Founder & Managing Partner of Chandaria Capital, said, “The importance for Africa to create and manufacture successful brands cannot be understated.
We are proud to be associated with Savannah Brands, a company that offers consumers authentic African flavours, quality African branded products, and best of all they are MADE IN AFRICA.”
Alexandra has been pleased with the support and guidance Chandaria Capital have provided Savannah Brands to succeed. She said, “Chandaria Capital has a wealth of knowledge on the local market which has helped Savannah Brands gauge a more realistic view of what will or won’t work in this market.
Their access to a relevant African network has also been invaluable. Based on their extensive experience in manufacturing and retail, they understand the challenges local manufacturers like Savannah Brands face and are proactively assisting us in finding solutions for them.”
Chandaria Group is one of the largest privately-held business groups in East and Central Africa. Co-founded and fully owned by brothers Darshan and Neer Chandaria, the firm is a sector agnostic fund investing in scalable, high impact businesses with unique competitive advantages, and are backed by committed, innovative entrepreneurs, creating sustainable long-term growth.