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Ghanaian Agri-tech startup, Farmerline, seals $12.9m pre-Series A funding

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A Ghanaian Agri-tech startup, Farmerline, has secured a $6.4m pre-Series A investment funding, plus another $6.5m in debt financing to help it expand.

The funding is Farmerline’s first raised equity since launching with a $600 grant almost a decade ago.

Lenders of the $6.5 million debt financing include DEG, Rabobank, Ceniarth, Rippleworks, Mulago Foundation, Whole Planet Foundation, Netri Foundation and Kiva.

The firm which prides itself as the “Amazon for African farmers”, was launched in 2013 by the duo of Alloysius Attah and Emmanuel Owusu Addai, and partners with agri-businesses and farm associations to support farmers across the African continent with high-quality fertiliser and seeds, free education on climate-smart farming practices, and an access to international markets.

According to Attah, the Farmerline marketplace combines digital tools with logistics, field agents, farm resources and strategic partnerships, while the company’s in-house technology platform, Mergdata, is “licensed by global food traders and manufacturers who use its customisable tools to improve the lives of farmers around the world.”

“To date, Farmerline has digitised over one million farmers through partnerships across 26 countries, and with the new funding on board, it is planning greater scale,” Attah said.

“At the peak of the pandemic, local agricultural SMEs played a vital role in ensuring food security, supporting farmers, supplying agricultural inputs, and distributing to final consumers.

“With this new investment, we will scale the AI capabilities within Farmerline’s Mergdata platform to help increase the income of farmers and agri-businesses, supporting them to access farm inputs, supplying them with assets such as tricycles, tractors and threshers, and connecting them to global markets,” he added.

“Farmerline’s goal has always been to create lasting wealth for farmers and their communities. To do that at scale, we’re expanding our operations across regions and are actively on the lookout for the best talent to help build an efficient supply chain that saves money for agribusinesses, reduces the cost of farming and the time it takes for people to get services to rural areas.

“We must ensure that local agribusinesses grow because when they do, we all succeed,” his partner, Addai said.

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Again, Starlink raises prices of its services in Nigeria

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Elon Musk’s satellite internet service provider, Starlink, has again jacked up the prices of its services in Nigeria after an earlier increase caused uproar among customers.

The service provider, in a statement released on Friday, informed its Nigerian customers that it would raise its monthly subscription prices, with the new rates set to take effect on January 27, 2025.

Under the new pricing regime, the lowest subscription tier will increase significantly from ₦38,000 to ₦75,000 per month, while mobile global roaming service will now cost ₦717,000 monthly.

The company stated that new subscribers will immediately pay the adjusted prices while existing customers will see the changes reflected in their upcoming bills.

In an email sent to users, Starlink said:

“To continue enhancing the Starlink network and provide reliable, high-quality service across Nigeria, we are adjusting our monthly subscription prices.

“These changes are part of our ongoing commitment to investing in the infrastructure needed to improve your experience with Starlink.”

This is the second time Starlink has attempted a price hike in Nigeria. The Nigerian Communications Commission (NCC) has rejected its previous increase in October on the grounds that the company had not sought the necessary regulatory approval.

However, insiders believe the NCC is set to approve an increase in the first quarter of 2025, which gives credence to insinuations that Starlink may have gotten an approval for the price increments.

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Safaricom Ethiopia launches 4G network in Gambella

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Ethiopia’s second largest telecom provider, Safaricom Telecommunications Ethiopia P.L.C., has announced the official launching of its 4G network services in Gambella and other surrounding areas.

The launching of the 4G network in the region, according to Safaricom Ethiopia CEO, Wim Vanhelleputte, highlighted the significant impact that enhanced telecommunications infrastructure could have on the region’s social and economic progress.

“In line with our commitment to digital education, Safaricom Ethiopia donated 20 laptops and 4 routers, including six months of free internet, to two high schools in Gambella City, supporting digital literacy and educational opportunities for local students,” Vanhelleputte stated.

Vanhelleputte reaffirmed Safaricom Ethiopia’s commitment to expanding its reach and ensuring that more regions gain access to reliable and high-speed internet.

“The introduction of the 4G network in Gambella is designed to deliver significant advantages to the local community,” he said .

“Enhanced connectivity will open doors to better access to information, education, and healthcare services. Additionally, it will create new opportunities for businesses and entrepreneurs, driving economic growth and development within the region.

“Safaricom Ethiopia’s move into Gambella aligns with its broader strategy to extend 4G coverage to more areas, furthering its mission of fostering nationwide connectivity,” the CEO added.

Alemitu Oumud, President of the Gambella Region who also spoke at the event, stated that, enhanced infrastructure is driving positive social and economic growth in our region.

“We commend Safaricom Ethiopia for its contributions to job creation, improving connectivity, and making Gambella a more attractive destination for investment,” Oumud said.

He stressed the potential of the new 4G network to drive business activities, attract investments, and foster entrepreneurship in the region.

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