Oyster Agribusiness, an agri-tech startup in climate-smart agriculture, has raised US$2 million in funding to expand its operations and deepen its impact on smallholder farmers across Ghana.
The funding came from Root Capital, RDF Ghana, and Sahel Capital Social Enterprise Fund for Agriculture in Africa (SEFAA FUND), with the fundraising process led by Pangea Africa.
According to CEO, 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 smallholder farmers 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.”
Oyster Agribusiness has played a pivotal role in transforming the livelihoods of smallholder farmers and promoting sustainable agricultural practices. The company has paid over $3.8million to smallholder farmers, positively impacted the lives of 4,500 smallholder farmers, cultivated over 20,000 acres of farmland and supplied over 25,000 tons of agricultural produce to markets locally and internationally.
Last year, Oyster Agribusiness raised $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.
This fresh capital injection will allow Oyster Agribusiness to expand its operations, reach more farmers, and scale its climate-smart agricultural initiatives, further strengthening the resilience of Ghana’s agricultural sector in the face of climate challenges.
Pangea Africa Limited played a crucial role in structuring and guiding the fundraising process, ensuring that Oyster Agribusiness attracted the right partners to scale its operations while maintaining its focus on environmental sustainability and empowering smallholder farmers.
“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,” Nii Lokko – Partner, Pangea Africa Ltd.