Tech

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

Published

3 years ago

April 27, 2022

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.

Related Topics:#agriculture Farmerline Featured fintech

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

8 hours ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

1 day ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.