…Pangea Africa , Root Capital, RDF Ghana, Sahel plotted the successful fundraising round

By Prince Osuagwu, Hi-Tech Editor

A Ghana-based agri-tech company, Oyster Agribusiness has secured a US$2 million funding to expand Africa’s food base. This is also as the funding will help it deepen impact on small holder farmers across Ghana.

The funding was raised through the support of Root Capital, RDF Ghana, and Sahel Capital Social Enterprise Fund for Agriculture in Africa, SEFAA FUND. The fundraising process was led by a leading Business Development Service provider, Pangea Africa Limited, specializing in climate-smart agriculture.

The Agritech platform notable for its bias in Climate-smart agriculture is said to have played a pivotal role in transforming the livelihoods of smallholder farmers and promoting sustainable agricultural practices in Ghana in the last five years.

In those years, the company is said to have paid over GH¢60 million –approximately US$3.8million to small holder farmers; positively impacted the lives of 4,500 of them; cultivated over 20,000 acres of farmland and supplied over 25,000 tons of agricultural produce to markets locally and internationally.

This fresh capital injection will allow it expand operations, reach more farmers, and scale its climate-smart agricultural initiatives, to further strengthen the resilience of Ghana’s agricultural sector in the face of climate challenges.

According to the CEO of the company, Mr Edmond Kombat: “We are thrilled to have the support of Root Capital, RDF Ghana, Sahel Capital, and Pangea Africa Limited, whose expertise and backing will help us to accelerate our vision.

This investment is a testament to the impact we’ve made with smallholderfarmers and the tremendous potential we see in scaling our operations. Together, we are working toward a more sustainable, inclusive, and resilient agricultural ecosystem in Ghana

“We are pleased that Pangea Africa Limited played a crucial role in structuring and guiding the fundraising process, ensuring that we attracted the right partners to scale operations while maintaining focus on environmental sustainability and empowering smallholderfarmers, “ he added.

Also, Nii Lokko, Partner, Pangea Africa Ltd said: “Oyster is a prime example of a growing African agribusiness generating triple bottom-line impact. Under the dynamic leadership of Mr. Edmond Kombat, Oyster is achieving impressive profits while delivering measurable social and environmental benefits, particularly for Ghanaian farmers. They serve as a shining example of leadership to their West African agribusiness counterparts”