RIAC’s an umbrella investment company that runs 4 core businesses
We’ve been offering our members solutions for five years now, based on our ventures in four main areas:
Forestry (Renava Forest Plantations), Real Estate (Renava Real Estate), Aquaculture (Renava Fish Farm) and Agribusiness (Renava Farms).
All our ventures are land-related, and we’re currently expanding our operations within those four areas.
Looking to become one of the dominant forest plantation owners in the country, our mainly Eucalyptus forests are specifically grown for the timber business in Kenya and our neighbors. Our Land Sales business is currently geared to serve those looking to invest in Kisumu, Kakamega, Eldoret and generally those seeking to buy land in the greater Western Kenya region. And our fish cages and agribusiness produce is a revenue stream for us, serving produce to the Hospitality industry and various traders with who we have a mutual dependency to keep each other’s business performing reliably.
RIAC Forestry Plantations
As part of diversifying our land-related projects, we started planting trees 4 years ago. The plan then was to grow our own Eucalyptus forests to supplement our timber and construction needs when we start doing property development around 2028.
But in doing our research we discovered there’s a great market for well-grown trees, both in Kenya and with our neighbors to the north. So we slowly expanded land in our portfolio that was under forest cover, while we looked for and formed agreements with sawmills and other wood-product buyers for our produce.
There is a lot of financial potential in supplying wood for poles/timber (fencing, scaffolding, construction, furniture, transmission) and for industrial firewood (tea processors, textile industries, food processors etc). This is against a weak supply due to poor siting, spacing, seedlings and woodlot management of most private plantations + the various logging regulations of natural forests. Think of the many trees you’ve seen that are over 6years old but are very thin.
We have an in-house team (project managers, foresters, surveyors, farm-hands) whose job is to ensure that all our woodlots
produce the high-grade timber that we seek to bring to the market. Their mandate includes: In line with other silvicultural practices, we do drip-irrigation where necessary to enable up to 70% better growth and width of trees. And given our management, market data and buyer agreements, we have GREAT expectations for this business.
RIAC Real Estate Projects
When starting in 2018, this business concentrated on land around Bondo town. We’ve since grown our geographical coverage, currently buying and/or selling land in the Kisumu-Bondo-Busia triangle. Our aim for this area is to grow into the go-to Real Estate player in the Western Kenya region. With certain areas e.g. Kisumu’s city environs greatly dominated by fraud cases or complicated land ownership issues, we have a steep hill to climb – but one we believe we can manage and eventually OWN the hill.
We’re currently selling both small plots (for individual settlement or speculation) and more sizable land parcels for those interested in agricultural land in western Kenya or looking for bigger family grounds to retire to.
To see more about what real estate we currently have available for our members, investors or partners click here
We have big ambitions for this area of our portfolio, and are looking to set up a property management company to help building owners that are looking to do better things with their time than deal with the often challenging aspect of being a landlord. Getting into the development scene is also something we’re keen on doing later this decade as part of our strategic growth plan, thus we are also open to partnering with other investors in Real Estate projects that they may wish to exit.
RIAC Fish Farming Project (Aquaculture)
With our main farming site only 200 meters from Lake Victoria, we naturally gravitated towards caged fish farming in the lake and have been doing it successfully for the past three years. After acquiring all the regulatory requirements from the Fisheries Department and NEMA, we brought on board the Lake Basin Development Authority (LBDA) to help us set up. From working with 2 at the onset, we now operate over 60 fish cages spread around the Uhanya, Ndenda, Mageta and Migingo Island area in Lake Victoria. We grow Tilapia in our farms, having them in different growth cycles to ease monitoring and harvesting. Working with other bodies e.g. Farm Africa has also helped us scale up our farms.
Our vision for this area of the business is to own more of the production cycle by developing and scaling hatcheries (and diversifying the fish we farm). We also seek to manage costs better by consistently improving our feeds acquisition and use process, and seeking better deals with high volume buyers as our production capacity rises. Our long-term play is to provide enough high-quality value addition to enable us to access the regional and international markets
RIAC Agribusiness Projects
We have a 10acre farm in Asembo Aram that serves as our primary growing location. This is in combination with several other tracts that we’ve rented out from land owners in the general Uyoma area.
We’ve been operating both greenhouses and open-farming strategies on these fields for the past three years. And after testing and experimenting with different strategies and planting cycles we are now confident that we’ve created a predictable and repeatable process for our agribusiness projects.We primarily focus on vegetables (Kales, Cabbages, Tomatoes and Capsicum) and traditional herbs.
Our crops project team works with various professionals to consistently improve field utilisation, from Feasibility studies (in new land acquisitions) to Crop Cycle management (to ensure tracebility), to Pest Management procedures (to prevent and/or deal with infestation).
Our vision for this area of our business is to diversify the crop offerings we provide to the market. We seek to provide a bigger range of vegetables as we build our portfolio of growing areas (different places offer different options as to what crops can perfom best in them). We’re also working to improve the value addition for our produce to realise even better returns within the crops’ value chain, scale up the volume of produce we can deliver to market and sell directly to high volume users(large companies and retailers).