Central Park Bees
Impact investments through UI Charitable Advisors not only help organizations to thrive, but help them deepen their social impact. Together, we can help investors support social entrepreneurs like Joseph Kadendula who are crafting innovative local solutions to help change the world.
For Tanzanian beekeepers, selling honey is not always as sweet as the taste. Joseph Kadendula and his company Central Park Bees are working to change that.
Joseph Kadendula was working as a beekeeper while attending university. Previously a farmer, he had seen firsthand the difficulties Tanzanian farmers faced, and he recognized similar problems in the beekeeping industry. Without a direct link to the market, business was often unpredictable and unreliable. .
Kadendula realized that Tanzanian beekeepers produced very little honey becasue they were using log and bark hives that produced 50% less than a modern box hives. They also struggled to find reliable processing facilities and exporters. As a result, they generated very little income, undermining their financial security and quality of life.
So,, Kadendula founded Central Park Bees (CPB). CPB sells modern beehives at an affordable price, helping to double honey production. Beekeepers bring their honey to CPB collection centers, are paid promptly for their product, and the honey is processed at a central processing facility. The CPB’s processing facility ensures high quality honey that can be sold both locally and internationally..
As CPB got started, they needed capital to build a processing facility and buy honey from beekeepers. UI Charitable Advisors structured an impact loan that enabled Central Park Bees to grow and expand their work.
“I think the investment came at the right time,” Kadendula said. “It has had a great impact on our business because with that amount, we managed to fulfill the dream of having a bigger processing facility.” UI Charitable Advisors provides insight into international impact investment opportunities that are fulfilling social missions while providing a return on investment. A debt investment lends l to a venture that is repaid, plus interest, over time.
When UI Charitable Advisors first invested in CPB in 2021, the company had 780 beekeepers and produced 85 tons of honey. Today, CPB has 1,850 beekeepers and produces 380 tons of honey a year. Having a larger processing facility has allowed CPB to scale the business effectively.
Currently, 75% of CPB’s products are sold to the international market. CPB has customers in Poland, France, Belgium, Japan, the United Arab Emirates, and the United States.
As their business grows, CPB helps beekeepers and their families to thrive.
“We value so much the advancement of those beekeepers we're dealing with, because at the end of the day, it's what keeps our business alive,” Kadendula said.