Wami Agro Limited (WamiAgro), an AgriTech that aids farmers in rural Ghana, has received GHS 2.21 million ($227K) from The Wangara Green Ventures, an impact investment fund in Ghana.
According to a statement, the investment would allow Wami Agro to offer training, input loans, and access to markets to smallholder farmers throughout the grains value chains.
It claimed that over the course of five years, the investment will help 15,500 smallholder farmers, provide 25 direct employment, and increase agricultural yields by nearly 30%. Additionally, Wami Agro’s efforts will cut post-harvest losses by at least 50% and greenhouse gas emissions by up to 20%.
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“The investment from Wangara Green Ventures together with post-investment assistance will enable Wami Agro to further develop its technology platform, acquire new farm equipment, improve its working capital and strengthen its governance framework in order to scale its current impact and contribute to the realisation of the UN SDGs,” the statement said.
Climate-focused impact investing firm, Wangara Green Ventures makes investments in small and growing Ghanaian businesses (SGBs) that have a positive social and environmental effect in Ghana, ranging from GHS 300,000 to GHS 3,000,000.
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The firm also provides pre-investment and post-investment Technical Assistance Grants to help the development and sustainability of these SGBs.
A Look At What WamiAgro Does
Wami Agro is an Accra-based, early-stage AgTech startup that was founded in 2019. The business collaborates with a network of over 10,000 smallholder farmers, and its goal is to utilise technology to address some of the issues smallholder farmers in Ghana experience by giving them access to markets and loans for agricultural inputs.
“The Agric Input Credit entails the provision of seeds, fertilizers, pesticides, and farm mechanisation services to the smallholder farmers on a deferred payment basis. The access-to-market service connects smallholder farmers to ready markets by aggregating from the smallholder farmers and selling to institutional and bulk buyers,” the statement read.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh