Oyster Agribusiness, an
innovative agricultural technology (AgriTech) enterprise collaborating closely
with smallholder farmers, has announced the successful acquisition
of substantial funds to advance its mission of sustainable agriculture, gender
inclusivity, and talent management.
The company has recently
garnered a total of US$310,000 in grants and a line of credit for funding,
marking a significant milestone in its journey toward effecting positive change
in the agricultural sector.
Root Capital, a respected
nonprofit lender committed to promoting resilience and prosperity in rural
communities, has extended Oyster Agribusiness a substantial line of credit
totaling US$300,000.
This financial infusion
will play a pivotal role in expanding our operations and extending assistance
to more smallholder farmers in need. With this capital injection, we aspire to
empower an even greater number of farmers, augmenting the current 3,000
smallholder farmers we collaborate with. Through provisions like sustainable
fertilizers, compost, improved seeds, and expert agronomical practices, our
goal is to elevate their productivity and enhance their livelihoods.
"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," stated Edmond Kombat,
Founder/CEO, the visionary driving Oyster Agribusiness.
"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."
Mr. Kombat explained that
Oyster Agribusiness leverages technologies such as temperature and moisture
sensors, aerial images, GPS technology, automation, information monitoring, and
data gathering and analysis. This comprehensive technological integration not
only enhances efficiency in our smallholder farms but also augments yields,
trims costs, and reinforces sustainability, making our approach environmentally
conscious.
These climate-smart
agricultural practices contribute to improved forecasting and decision-making
processes, ensuring efficient delivery of farm inputs to our farmers and the
transportation of farm produce from our farmers to our off-takers.
Additionally, Oyster
Agribusiness has been 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.