[ACCI-CAVIE] Oyster Agribusiness, a leading agritech company focused on climate-smart agriculture, has secured a US$2 million investment to expand its operations and empower smallholder farmers in Ghana.
The funding round, led by Root Capital, RDF Ghana, and Sahel Capital Social Enterprise Fund for Agriculture in Africa (SEFAA FUND), with the support of Pangea Africa Limited, will enable Oyster Agribusiness to:
- Expand Operations: Reach more smallholder farmers and increase agricultural production.
- Enhance Technology: Implement advanced agricultural technologies to improve yields and efficiency.
- Strengthen Supply Chains: Improve the quality and quantity of agricultural produce.
- Climate-Smart Agriculture: Promote sustainable farming practices to mitigate climate change impacts.
Since its inception, Oyster Agribusiness has made significant strides in transforming the lives of smallholder farmers in Ghana. The company has paid over GH¢60 million to smallholder farmers, impacted the lives of over 4,500 farmers, cultivated over 20,000 acres of farmland, and supplied over 25,000 tons of agricultural produce to local and international markets.
Edmond Kombat, CEO of Oyster Agribusiness, expressed his enthusiasm for the future: “This investment is a testament to the impact we’ve made and the potential we see in scaling our operations. Together with our partners, we are committed to building a more sustainable and prosperous future for Ghanaian agriculture.”
Pangea Africa Limited, the leading business development service provider, played a pivotal role in securing this funding. Nii Lokko, Partner at Pangea Africa Ltd., highlighted Oyster Agribusiness’s triple-bottom-line impact: “Oyster is a shining example of a growing African agribusiness that generates significant social and environmental benefits.”
This investment underscores the growing interest in sustainable agriculture in Africa and the potential for agritech companies to drive positive change.
The editorial team (with Farmer’s review Africa)