Oyster
Agribusiness, an innovative agri-tech company specializing in climate-smart
agriculture, has raised US$2 million in funding to expand its operations and
deepen its impact on smallholder farmers across Ghana. This milestone was made
possible through the support of Root
Capital, RDF Ghana, and Sahel Capital Social Enterprise Fund for Agriculture in
Africa (SEFAA FUND), with the fundraising process led by Pangea Africa Limited, a leading
Business Development Service provider.
Over the last
five years, Oyster Agribusiness has played a pivotal role in transforming the
livelihoods of smallholder farmers and promoting sustainable agricultural
practices. The company has paid over GH¢60 million (US$3.8million) to
smallholder farmers, impacted the lives of 4,500 smallholder farmer, cultivated
over 20,000 acres of farmland, and supplied over 25,000 tons of agricultural
produce to markets locally and internationally.
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.
CEO, Edmond
Kombat, shared his enthusiasm about the investment and the future of the
company: "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."
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.
