Abidjan, October 3, 2025
KeysFinance Partners is pleased to announce the successful completion of a strategic transaction through which NORFUND, the Norwegian government’s investment Fund dedicated to developing countries, has invested in Société Ivoirienne de Production Animales (SIPRA), a subsidiary of the AVOS Group.
Valued at €20 million, this transaction strengthens SIPRA’s position as a key player in the poultry industry across Francophone West Africa, while reinforcing its regional development capabilities. It occurs at a time of strong demand for high-quality local poultry products and ongoing structural transformation within the agri-food sector.
This transaction also marks the Norwegian sovereign investment Fund’s entry into a strategic sector in Côte d’Ivoire, demonstrating both the attractiveness of the Ivorian economy and the relevance of the AVOS Group’s positioning in the poultry value chain.
KeysFinance Partners acted as the exclusive financial advisor to the AVOS Group structuring and overseeing the entire transaction process.
“We are proud to have supported the AVOS Group in this strategic transaction with NORFUND. It illustrates our ability to structure complex transactions and mobilize leading investors for high-impact transformation projects in Africa.” said Jean Michel ETTE, Managing Partner at KeysFinance Partners
About SIPRA
Founded in 1976, SIPRA is the leading player in the poultry sector in Francophone West Africa, with operations in Côte d’Ivoire and Burkina Faso. SIPRA is the only player in the region with a presence across the entire poultry value chain. The company operates through several production units divided into several divisions: IVOGRAIN (production and distribution of feed and feed concentrates), IVOIRE POUSSINS (production and distribution of day-old chicks) and COQIVOIRE (breeding, slaughtering, processing, and distribution of finished poultry products).
About AVOS
The AVOS Group is a major agri-food player in West and Central Africa. The Group is a diversified holding company that has been operating in poultry farming and flour milling for nearly 50 years. The Group operates across Côte d’Ivoire, Burkina Faso, Togo, and Gabon.
About NORFUND
Norfund is the Norwegian Investment Fund for developing countries. Its mission is to create sustainable jobs and improve lives by investing in local family businesses that drive sustainable development in developing countries. Norfund is owned and funded by the Norwegian Government and represents its most important tool for strengthening the private sector in developing countries.
About KeysFinance Partners (www.keysfinance.com)
Based in Abidjan, KeysFinance Partners is an independent investment bank specializing in mergers and acquisitions, fundraising, and financial advisory across Sub-Saharan Africa. Since its founding in 2014 by Joël CADIER, the firm has advised on numerous M&A and financing transactions in the region, with a cumulative deal value of approximately €1 billion.
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