African Originals, a cider maker from Kenya, has announced that it wants to raise $2 million to meet the growing demand from young people for its drinks.
The money will come from two sources: $1 million will be from selling shares (equity), and $1 million will be borrowed (debt).
This funding will help the company grow as more people become interested in craft drinks.
Well-known investors are supporting this funding, including Phoenix Beverages, part of a company based in Mauritius called IBL Group, as well as the big Kenyan retailer Naivas, Amaya Capital, Chandaria Capital, and others.
This investment shows that people believe African Originals can grow and attract young customers who like its locally made cider.
Founded in 2018, African Originals has established itself with its high-quality drinks made from ingredients sourced in Kenya.
Their main product, the Kenyan Originals cider, has been very popular, leading to a need for more production and a larger market presence.
Experts say that the rising demand shows a shift among young people who prefer real, locally-made products.
While the company has not shared specific details about its growth plans, sources say the new funds will help increase production and improve distribution both in Kenya and nearby countries.
With this new investment, African Originals is ready to strengthen its position in Kenya’s competitive drink market, where it competes with established companies like East African Breweries Limited.
The participation of well-known investors like Phoenix Beverages and Naivas highlights how important the growth of African Originals is seen to be.
