Led by the Catalyst Fund, a group of investors committed to sustainable agriculture and rural prosperity, the funding will fuel Zebra CropBank’s expansion and empower farmers.
The investment targets scaling Zebra CropBank’s operations, primarily through deploying solar-powered micro-warehouses and strengthening its integrated trading platforms.
This addresses key challenges faced by smallholder farmers: limited storage capabilities, weak market linkages, and climate change vulnerability.
Zebra CropBank’s innovative model relies on constructing and leasing solar-powered micro-warehouses near farming communities.
These facilities enable farmers to securely store and insure their harvests, while a USSD platform ensures transparent storage and trading.
The impact is already tangible, with farmers experiencing up to 90% income increases and minimized storage losses.
Investors were drawn to Zebra CropBank’s potential for significant positive impact, recognizing its fact-based approach to tackling multifaceted challenges faced by smallholder farmers.
Its unique focus on post-harvest solutions – storage and market access – sets it apart in the agritech sector.
Currently operating in Enugu State with five established micro-warehouses and 1,400 registered farmers, Zebra CropBank offers climate-smart solutions tailored to smallholder needs.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Anka, an Ivory Coast-based financial technology company, has received $1.7 million in funding from the International Finance Corporation (IFC) to expand its operations.
Payday (Techstars ’21), one of Africa’s leading Pan-African neobank, has raised $3 million in seed funding to drive the future of work for the continent.
Fifteen Egyptian tech startups have been selected for the first batch of the 500 Global in Egypt Scale Up Programme, a seven-week program designed to help founders scale their businesses.
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