Ghana’s Oyster Agribusiness, an agritech platform working with smallholder farmers in the West African country has announced a $310,000 investment to drive sustainable agriculture in the country.
The firm said the successful fund raise will help advance its mission of sustainable agriculture, gender inclusivity, and talent management and marks a significant milestone in its journey toward effecting positive change in the agricultural sector.
According to Edmond Kombat, Founder and CEO, Oyster Agribusiness, “We express our deep gratitude to Root Capital, our collaborative partners, and the grant providers for acknowledging the worth of our endeavors and the potential of smallholder farmers. This funding will enable us to broaden our outreach, strengthen our gender inclusivity initiatives, and invest in our exceptional team, propelling us closer to our vision of a flourishing, sustainable agricultural sector.”
The US$300,000 in grants and a line of credit for funding was from Root Capital, a nonprofit lender committed to promoting resilience and prosperity in rural communities. The funds will be used to play a pivotal role in expanding the firm’s operations and extending assistance to more smallholder farmers in need.
According to the firm, the capital injection will help to empower an even greater number of farmers, augmenting the current 3,000 smallholder farmers we collaborate with by supplying sustainable fertilizers, compost, improved seeds, and expert agronomical practices, in a move to elevate their productivity and enhance their livelihoods.
Oyster Agribusiness leverages technologies such as temperature and moisture sensors, aerial images, GPS technology, automation, information monitoring, and data gathering and analysis which enhances efficiency in the smallholder farms but also augments yields, trims costs, and reinforces sustainability, making its approach environmentally conscious.
These climate-smart agricultural practices contribute to improved forecasting and decision-making processes, ensuring efficient delivery of farm inputs to the farmers and the transportation of farm produce from its farmers to clients.
Recently, Oyster Agribusiness was awarded two generous grants to underpin crucial elements of our social impact initiatives which include a Gender Inclusion Grant and a Talent Management Grant.
The former will be allocated to promote gender equality and empower women within the agricultural landscape. Oyster Agribusiness firmly believes that nurturing gender inclusivity is pivotal for the sustainable growth of farming communities.
“Through this grant, we will introduce targeted programmes aimed at granting women farmers’ enhanced access to resources, training, and decision-making roles, thereby reinforcing their contributions to the sector,” Mr. Kombat noted.
Human capital forms the bedrock of Oyster Agribusiness’s accomplishments, and this grant is dedicated to nurturing our talented pool of professionals. By investing in talent development, we aspire to foster a culture of innovation, excellence, and empathy, equipping us to better cater to the needs of farmers and drive enduring positive change, he said of the latter.
Oyster Agribusiness is firmly convinced that sustainable agriculture and ethical business practices have the potential to catalyze social and economic transformation. With the unwavering support of its partners, stakeholders, and the commitment of our dynamic team, we are confident that these freshly acquired funds will accelerate our endeavors to forge a more equitable, resilient, and prosperous agricultural ecosystem.