AgroCenta Raises US$ 790K in working capital and development funding

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Frankfurt (Germany) and Accra (Ghana), February 2021. GreenTec Capital is very pleased to report that AgroCenta has successfully raised US$ 790,000 in funding. The funding will be used to scale the Agri-Tech ecosystem in Ghana and for working capital to secure crop purchases from small-holder farmers. The funding was raised from a consortium of development actors including: UK charity Shell Foundation, the UK’s Foreign, Commonwealth and Development Office (FCDO), AV Ventures, and Rabo Foundation.

Since 2016, AgroCenta has developed an innovative suite of tools to facilitate value-chain connections for stakeholders in Ghana’s agricultural sector. The company’s ‘CropChain’ platform focuses on empowering smallholder farmers with the tools and knowledge to sell their crops at fair and transparent prices.

Co-founder Francis Obirikorang and Michael Ocansey stressed the timeliness of the funds raised “This is a significant milestone for AgroCenta, having the support of leading institutions, particularly with the COVID-19 backdrop, underlining the strength of AgroCenta and the importance of its mission. The demand for agricultural raw materials from offtakers in the brewery, manufacturing and consumer sector is increasing exponentially because of the easing of the COVID-19 restrictions that were put in place by the government of Ghana, hence this capital injection will help to secure purchases at fair and transparent prices from smallholders — a much needed lifeline for many who are at the proverbial bottom of the pyramid.”

GreenTec is pleased to report on AgroCenta raising funding for scaling and farmer engagement activities. Particularly during the current global pandemic, it is vital for development resources be directed to the bottom of the pyramid.

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