Zambia’s Good Nature Agro, a tech-enabled social enterprise, secured $8.5 million in Series B funding led by Goodwell Investments, with Oikocredit and GP SVF participating.

Founded in 2014, the company focuses on assisting 30,000 smallholder farmers in southern Africa, emphasizing the cultivation and sale of resilient legumes.

With this capital, Good Nature Agro aims to expand its reach to 50,000 farmers by 2027.

The investment will facilitate improved client interactions, new crop varieties, and strategies for increased farm incomes.

Investment Director at Goodwell, Neo Maruatona Ratau praised GNA’s financial success and social impact, emphasizing the integration of smallholders into the agricultural ecosystem.

Oikocredit’s Equity Officer for Africa, Samuel Kibiri expressed excitement about uplifting low-income African farmers and Managing Director of GP SVF at Global Partnerships, Jim Villanueva highlighted GNA’s empowerment of farmers amidst challenges saying, ” “Having been a part of GNA’s journey since their seed round in 2018, we’ve observed their adaptability and growth, empowering farmers to augment and diversify their earnings amidst the challenges of climate change and gender disparities. We take pride in the milestones achieved so far and are excited to back GNA as they embark on this new phase of growth and impact.”

Good Nature Agro CEO, Carl Jensen emphasized GNA’s unique approach, welcoming Oikocredit as a new investor and expressing gratitude for continued support from existing partners.

“Good Nature has transcended typical agribusiness limitations by engaging the entire value chain – from farmers and aggregators to processors and consumers – and delivering exceptional service with a blend of technology and direct field presence,” Mr Jensen said.