On Wednesday, Acumen, a global impact investment fund, announced that it had invested strategically in Wami Agro, a Ghanaian agritech startup dedicated to empowering smallholder farmers.
This move aims to support Wami Agro’s mission of improving the livelihoods of these farmers through innovative tech-enabled solutions.
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Empowering smallholder farmers
Smallholder farmers are the backbone of Ghana’s agriculture, making up about 70 percent of the workforce and contributing substantially to food production.
However, they face numerous challenges, such as entrenched poverty and limited access to credit and markets. Wami Agro addresses these issues with three key services:
Wami Market: This service aggregates produce from smallholder farmers and sells it in bulk to domestic and international markets. It ensures consistent demand and fair pricing for farmers.
Wami Credit: A digital platform that provides credit scoring for Village Savings and Loan Associations (VSLAs), enabling farmers to access financing for essential inputs like seeds and fertilisers.
Wami Info: Offers training programs that equip farmers with knowledge of climate-resilient farming practices.
Since its inception, Wami Agro has built a network across six regions in Ghana involving over 14,000 smallholder farmers. The company focuses primarily on rice, maize, soya, and sorghum.
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Wami Agro to scale into neighbouring countries
With Acumen’s support, Wami Agro plans to scale its operations further by expanding its sourcing to neighbouring countries such as Sierra Leone and Burkina Faso.
Additionally, it will roll out its proprietary digital farm management platform called Pukpara. This expansion aims to enhance yields by improving technology integration while driving positive change in agriculture.
“This investment will help us expand our operations,” said Caleb Edwards founder of Wami Agro “improve technology,” he added “and drive positive change in agriculture”.
Babatunde Usman from Acumen West Africa stated, “Their commitment aligns with our values; we are excited about their efforts towards sustainable agricultural impact”.
The partnership is set to improve incomes by leveraging technology effectively while enhancing resilience among smallholder farming communities across West Africa.