Oyster Agribusiness is a key player in connecting smallholder farmers in the Kintampo region of Ghana to large fast-moving consumer goods (FMCG) companies and export markets.

By bypassing traditional aggregators who often take a larger share of the profit margin, Oyster enables farmers to earn more from their produce.

The company currently partners with 4,500 farmers across the region.

Highlighting the significance of Oyster’s work, Deji Adebusoye, a partner at Sahel Capital, noted:

“Oyster Agribusiness is crucial in bridging the gap between rural farmers and FMCG companies that typically lack the infrastructure to source directly. Through Oyster’s efforts, these companies gain greater traceability and compliance with global standards while improving the livelihoods of smallholder farmers.”

Oyster Agribusiness has established a robust farmer database, providing transparency and enabling FMCG partners to trace the origin of their agricultural inputs.

This partnership also allows the companies to better assess the impact of their sourcing activities on the farmers’ well-being.

Edmond Kombat, CEO of Oyster Agribusiness, emphasized the enterprise’s mission to empower farmers who are often underpaid within the value chain. 

“We recognized the challenges farmers faced and set out to enhance their livelihoods by securing better market access and fair pricing. With SEFAA’s support, we aim to expand our reach and create more opportunities for farmers,” Kombat stated.

Since its inception, the company has onboarded 4,500 farmers and established relationships with 14 clients committed to directly purchasing commodities from its network.

Sahel Capital, a prominent agribusiness investment firm, manages two key funds: the Fund for Agricultural Finance in Nigeria (FAFIN), which supports agribusiness SMEs in Nigeria, and SEFAA, which provides structured debt solutions to agribusiness SMEs across 13 sub-Saharan African countries.

The firm is also in the process of raising capital for a successor fund, the Sahel Capital Agribusiness Fund II, to explore further investment opportunities in West Africa.

The company, co-founded in 2021 by Francis Nderitu and Abigail Gachigi, focuses on connecting supply and demand in the fish and chicken value chains.

Its suite of cooling solutions and a B2B app, Markiti, enable seamless transactions between suppliers and buyers.

The Markiti app empowers a network of shops, outlets, and restaurants to order fish and chicken directly from producers.

This innovation provides real-time demand data to farmers and fisherfolk, improving efficiency and market access.

Operating in Kenya and Tanzania, Keep IT Cool’s achievements were recently recognized when it won the 2024 Earthshot Prize.

Co-founder and Managing Director Nderitu highlighted the impact of the funding:

“Our collaboration with Acumen centers on our mutual commitment to uplifting underserved African communities. We strive to empower these communities by boosting their productivity, improving market access, and minimizing waste, ultimately helping to increase their incomes.”

The startup has already demonstrated significant impact, increasing the incomes of 3,600 fisherfolk by over 15% and virtually eliminating post-harvest losses within its network. Its growing customer base includes 40 supermarkets and 2,000 small businesses.

Keep IT Cool is constructing a solar-powered cold chain facility that will increase its capacity sevenfold.

This expansion will allow the company to diversify into fruits and vegetables and serve over 100,000 fisherfolk and farmers effectively.

The funding from Acumen is critical to achieving its vision of scaling operations across the continent.

The investment is part of Acumen’s Forcibly Displaced People (FDP) Lens Investing program in East Africa, which aims to bolster sustainable livelihoods in displacement-affected communities.

The program, supported by the Conrad N. Hilton Foundation, Swiss Agency for Development and Cooperation, and IKEA Foundation, provides capital and technical assistance to small and medium enterprises that support forcibly displaced people and their hosts.

Keep IT Cool’s innovative approach and commitment to community empowerment position it as a key player in addressing food preservation challenges while fostering economic growth across Africa.

The project seeks to boost the adoption of sustainable and cost-effective transportation solutions for electric motorcycle riders in the city.

The hubs will offer affordable battery rentals, optimized charging facilities, and swift after-sales services, with each hub projected to handle 400 to 500 transactions daily for both battery charging and rentals.

In a press statement, Roam revealed that it is one of three demonstration sites selected in Africa by ENERGICA to develop region-specific, innovative clean energy technologies.

“While Roam focuses on expanding clean transport in Kenya, other demonstration sites include Madagascar, where nano-grids are being developed for renewable water and food production, and Freetown, Sierra Leone, where biogas and water purification systems are advancing energy, water, and fertilizer production,” the company stated.

The new Roam Hubs aim to make electric mobility more accessible, transforming Nairobi’s urban transportation landscape into a cleaner and more efficient system.

Solar charging, which underpins the affordability of the hubs, offers additional savings of KSh 10-15 per kWh compared to conventional electricity.

Roam emphasized the alignment of the ENERGICA project with its broader mission of advancing low-emission transport solutions.

“The ENERGICA project aligns seamlessly with Roam’s mission to provide innovative, low-emission transport solutions,” the statement read.

The fund, known as ACO Fund 3, has received support from prominent international institutions, including the International Finance Corporation (IFC), British International Investment, and the Swiss Investment Fund for Emerging Markets (SIFEM).

Standard Bank of South Africa serves as the credit provider for the initiative.

ACO Fund 3 is designed to provide private credit investments to market-leading companies and infrastructure projects across Africa and other emerging markets, aiming to deliver competitive returns for investors.

Nathaniel Micklem, co-head of Ninety One Emerging Market Alternative Credit, expressed enthusiasm for the fund’s launch.

“Along with our partners, we are very excited to be launching our 19th emerging markets private credit fund. The strategy has a long history of supporting growth and infrastructure companies across Africa and other emerging markets,” he said.

He also highlighted the ACO strategy’s strong performance record, stating it has consistently outperformed public and private credit benchmarks while contributing to the development of capital markets in its target regions.

Kalina B. Miller, IFC’s financial institutions group regional industry manager for Southern Africa, emphasized the fund’s potential impact on economic growth. 

“This milestone marks a significant step in our commitment to fostering private sector-led growth and job creation across Sub-Saharan Africa,” she said.

ACO Fund 3 is poised to strengthen private sector growth and infrastructure development across emerging markets, further solidifying Ninety One’s reputation as a key player in alternative credit strategies.

The investment will support eight hydro-powered mini-grids that are set to benefit over 10,000 individuals and local businesses.

Hydrobox, known for its innovative approach to energy access, builds, owns, and operates containerized hydro power plants.

These plants, designed for cost-efficiency and rapid deployment, provide sustainable energy solutions to areas that are often off-grid and challenging to reach.

Leveraging advanced IoT technology, each hydro unit is remotely monitored and managed, ensuring optimal efficiency and minimal downtime.

The $9 million funding was secured from FMO, the Dutch entrepreneurial development bank, and EDFI Management Company, through ElectriFI, an EU impact investment facility dedicated to clean energy projects in developing nations.

The capital injection will enable Hydrobox to expand its operations and provide electricity to 2,582 households across four mini-grids, benefiting a wide range of clients, including factories, farms, schools, hospitals, restaurants, and households.

Hydrobox’s approach harnesses the power of local rivers to generate sustainable energy, reducing reliance on fossil fuels and lowering carbon emissions.

This strategy not only promotes environmental sustainability but also supports local job creation and economic development.

Thomas Poelmans, CEO and co-founder of Hydrobox, emphasized the importance of the new funding and partnerships.

“Our collaboration with esteemed investors FMO and ElectriFI is a testament to the dedication of our team. With these strong partners and a robust pipeline of projects in Kenya and the DRC, we are on track to make a significant impact on energy access in Africa. By 2030, we aim to reach one million end-users,” he said.