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Ghana’s Oyster Agribusiness Gets Funding From Sahel Capital to Boost Smallholder Farmer Market Access

New Investments

Ghana's Oyster Agribusiness Gets Funding From Sahel Capital to Boost Smallholder Farmer Market Access

Sahel Capital, the fund manager for the Social Enterprise Fund for Agriculture in Africa (SEFAA), has approved a term and working capital loan of approximately $610,000 to support Ghanaian-based Oyster Agribusiness.

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.

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WTO Reappoints Nigeria’s Dr. Ngozi Okonjo-Iweala for Second Term as Director-General

Key Developments

WTO Reappoints Nigeria's Dr. Ngozi Okonjo-Iweala for Second Term as Director-General

The World Trade Organization (WTO) General Council has unanimously reappointed Dr. Ngozi Okonjo-Iweala for a second four-year term as Director-General.

Her new term will begin on September 1, 2025, extending her groundbreaking leadership as the first woman and first African to head the global trade body.

The reappointment process commenced on October 8, 2024, under the guidance of Ambassador Petter Ølberg of Norway, Chair of the WTO General Council.

With no additional nominations submitted by the November 8 deadline, Dr. Okonjo-Iweala stood unopposed.

Her candidacy was finalized during a special session of the General Council on November 28-29, 2024, following a presentation of her vision for the organization and a subsequent Q&A with member nations.

Ambassador Ølberg praised Dr. Okonjo-Iweala’s achievements, highlighting her leadership through challenging periods.

“Her guidance has been instrumental in strengthening the WTO’s capacity and relevance,” he remarked.

Ølberg also acknowledged her commitment to fostering inclusivity and advancing a fair global trading system.

Since assuming office on March 1, 2021, Dr. Okonjo-Iweala has made significant strides in rebuilding trust in the WTO and enhancing its role in addressing complex global trade issues. 

Her agenda includes strengthening dispute resolution mechanisms, promoting inclusive trade practices, and addressing emerging challenges like digital trade and climate adaptation.

Expressing her gratitude for the continued support, Dr. Okonjo-Iweala stated:

“The WTO has a vital role in fostering economic resilience, and I am committed to driving reforms that reflect the needs of all members. Together, we will shape a fair, rules-based trading system that benefits everyone.”

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Isaac Nyangolo is Revolutionizing Education in Africa by Providing Accessible Learning Tools

Isaac Nyangolo is Revolutionizing Education in Africa by Providing Accessible Learning Tools

Isaac Nyangolo is a visionary entrepreneur, technologist, and advocate for education reform in Africa.

As the co-founder and CEO of Zeraki, a leading educational technology company based in Kenya, he is revolutionizing how education is delivered and managed across the continent.

By leveraging the power of technology, Nyangolo aims to address systemic challenges in African education, including inequitable access to quality resources, inefficient data management, and outdated teaching methodologies.

Nyangolo’s academic journey began at Harvard College, where he pursued a degree in Engineering Sciences and graduated cum laude.

His time at one of the world’s most prestigious institutions not only provided him with a strong technical foundation but also instilled a profound sense of social responsibility.

This commitment to using his skills for social good has been a driving force behind his professional and entrepreneurial endeavors.

Before founding Zeraki, Nyangolo gained valuable experience across finance, banking, and education sectors.

He worked with global and regional organizations such as CitibankEquity Bank, and the Equity Group Foundation.

Nyangolo’s vision for education reform took shape with the founding of Zeraki. 

The company is focused on creating innovative solutions to empower schools, teachers, and students.

Through its digital platforms, Zeraki provides tools that improve efficiency, support data-driven decision-making, and enhance the learning experience for students.

The company’s flagship product, Zeraki Analytics, is transforming how schools collect and analyze data, enabling educators to make informed decisions to improve student outcomes and optimize school operations.

Meanwhile, Zeraki Learning is making quality educational content accessible to students, bridging the gap between learners and vital resources.

Under Nyangolo’s leadership, Zeraki has expanded its reach across multiple African countries, ensuring its tools benefit students and schools on a large scale.

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Regina Honu

Regina is a Ghanaian social entrepreneur and software developer harnessing the power of technology to promote social change in West Africa.

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Moustapha Ndoye 

Moustapha Ndoye is a Senegalese tech entrepreneur with a mission to transform the Trucking industry in West Africa.

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15 Startups, Organizations, and Individuals Feted at the African Leg of Global Startup Awards

Key Developments

15 Startups, Organizations, and Individuals Feted at the African Leg of Global Startup Awards

Fifteen innovative startups, organizations, and individuals have emerged as winners in the African segment of the prestigious Global Startup Awards (GSA).

These trailblazers, representing eight African nations, will now advance to the global finals, marking a significant milestone in their journeys to achieve international recognition.

The winners were unveiled at the GSA Africa Finale, hosted in Cape Town, South Africa, in partnership with the Global Innovation Initiative Group (GIIG). 

This year’s honorees hailed from South Africa, Ethiopia, Kenya, Egypt, Nigeria, the Democratic Republic of Congo (DRC), Morocco, and Zambia.

The Winners and Categories:

  • Women in Tech: Anna Ekeledo (Nigeria) – Executive Director of AfriLabs, a network spanning 450+ tech hubs in 53 countries.
  • Accelerator/Incubator Programme: OceanHub Africa (South Africa) – Driving sustainable ocean-impact solutions.
  • Best Green Tech: Octavia Carbon (Kenya) – Innovators in geothermal-integrated direct air capture (DAC) technology to tackle climate change.
  • Youth Startup of the Year: Ultrateb (Egypt) – Transforming healthcare e-commerce for greater efficiency and accessibility.
  • Founder of the Year: Bethelhem Dejene (Ethiopia) – Promoting environmental sustainability through Zafree Papers.
  • Best AgriTech: Winich Farms (Nigeria) – Empowering smallholder farmers with commerce infrastructure and embedded finance.
  • Startup of the Year: SeaH4 PTY Ltd (South Africa) – Pioneering biofuels and e-fuels using seaweed and green hydrogen.
  • Best Coworking Space: Silikin Village (DRC) – Supporting startups with innovation and talent development.
  • Best Health Tech: Pharmarun (Nigeria) – On-demand platform connecting patients to medications.
  • Best FinTech: Chari (Morocco) – Providing embedded e-commerce and financial services to small businesses.
  • Best Newcomer: Mytochondria Group (Zambia) – Innovating agriculture with smart soil sensors.
  • Best Mobility & Logistics: Loop (South Africa) – Bridging formal and informal markets with transformative transport solutions.
  • Ecosystem Hero of the Year: Dr. Eng. Nabil Shalaby (Egypt) – Advocate for entrepreneurship and prolific author.
  • Investor of the Year: EdVentures (Egypt) – Supporting innovation in education and learning.
  • GIIG Future Shaper: Medref Healthbridge Solutions (Uganda) – Ensuring healthcare access for children and underserved communities.

The winners now progress to the Global Startup Awards Grand Finale, where they will compete on a global stage.

This opportunity positions them for amplified visibility and potential investor connections.

It also integrates them into the wider GSA network of industry leaders and innovators.




 

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Kenyan Startup Keep IT Cool Secures Funding for Pan-African Expansion

New Investments

Kenyan Startup Keep IT Cool Secures Funding for Pan-African Expansion

Kenyan startup Keep IT Cool, known for its innovative and sustainable refrigeration solutions, has received funding from global impact investor Acumen to support its ambitious expansion across 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.

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Paratus Group Expands to Kenya to Bring Advanced Connectivity Solutions in Partnership with MoveOn Telecoms

Key Developments

Paratus Group Expands to Kenya to Bring Advanced Connectivity Solutions in Partnership with MoveOn Telecoms

Pan-African telecommunications leader, Paratus Group, has announced its expansion into Kenya through a joint venture with Nairobi-based IT and Internet Service Provider (ISP), MoveOn Telecoms Ltd.

The newly formed company will focus on providing and installing Starlink services across Kenya, bringing advanced connectivity solutions to underserved areas.

This move follows Paratus’ designation as an authorized reseller of Starlink’s low earth orbit (LEO) satellite services across Africa, a milestone achieved last year.

Paratus Kenya’s establishment comes shortly after the company launched operations in Eswatini, signaling its growing footprint on the continent.

MoveOn Telecoms Limited, licensed by the Communications Authority of Kenya since 2015, brings extensive experience in telecom solutions.

The partnership aims to leverage MoveOn’s expertise and Paratus’ network capabilities to deliver stable and reliable internet connectivity, critical for economic growth and digital transformation in Kenya.

Joseph Kibwott, Managing Director of Paratus Kenya, expressed enthusiasm about the collaboration, highlighting its potential impact.

“Paratus Kenya is committed to driving economic development and GDP growth by creating jobs directly and indirectly. Stable and reliable internet connectivity plays a pivotal role in this mission, providing access to e-government services, remote work opportunities, real-time security solutions, and telemedicine. Enhanced connectivity in remote areas will empower Kenyans and foster growth in local economies,” he said.

Martin Cox, Chief Commercial Officer of Paratus Group, emphasized the strategic importance of the expansion.

“Opening in East Africa has been one of our primary objectives, and this marks a significant milestone. It’s a giant step forward in our mission to connect underserved African countries south of the equator. We are thrilled to partner with MoveOn and to bring Starlink services to Kenya.”

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Roam to Establish 10 Solar-Powered Electric Mobility Hubs in Nairobi with EU Funding

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Roam to Establish 10 Solar-Powered Electric Mobility Hubs in Nairobi with EU Funding

Kenyan electric mobility company Roam is gearing up to launch 10 additional solar-powered Roam Hubs in Nairobi, supported by funding from ENERGICA, an initiative under the European Union’s Horizon 2020 program.

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.

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Ninety One Secures $260 Million in First Close of Africa-Focused Credit Fund

New Investments

Ninety One Secures $260 Million in First Close of Africa-Focused Credit Fund

Ninety One, a leading investment firm, has announced the first close of its third Africa and emerging markets-focused credit opportunities strategy, securing $260 million in commitments.

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.

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Kenyan’s Hydrobox Raises $9 Million to Deliver Sustainable Power to Over 10,000 People in Kenya

New Investments

Kenyan's Hydrobox Raises $9 Million to Deliver Sustainable Power to Over 10,000 People in Kenya

Kenyan renewable energy startup Hydrobox has secured $9 million in debt funding to expand its small hydro projects, delivering affordable and reliable electricity to underserved communities in Kenya.

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.

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