Accra-based agritech startup, Wami Agro, has secured additional funding from Mirepa Capital, an impact-focused investment firm. This investment will allow Wami Agro to scale its operations and further empower smallholder farmers across Africa.
Providing solutions to the major bottlenecks in the agriculture supply chain.
Despite boasting a vast agricultural workforce – over 50% of the continent’s working population – Africa grapples with the paradox of food security. Smallholder farmers, the backbone of African agriculture, face a multitude of hurdles. Limited access to financing and resources like fertilizers and improved seeds hinder their productivity. Additionally, they often struggle with unpredictable weather patterns, inadequate storage facilities leading to post-harvest losses, and weak infrastructure making it difficult to get their produce to market.
Founded by Caleb Edwards and Jonah Tuokpier, Wami Agro develops tech-enabled solutions to the challenges of smallholder farmers. The company leverages technology to solve the challenges faced by smallholder farmers by providing agriculture input credit and access to markets. With a network of over 12,000 smallholder farmers, the company provides seeds, fertilisers, pesticides, and farm mechanisation services to smallholder farmers on a deferred payment basis. After harvest, Wami Agro aggregates the produce and sells it to corporate and wholesalers through its access to market technology.
What will the cash be used for?
According to the CEO, Caleb Edwards, the strategic investment from Mirepa Investment Advisors will enable the company to expand its reach, enhance its technological capabilities, and continue to drive positive change in the food and agricultural industry in Ghana and beyond. “We are excited about the opportunities this partnership brings and remain steadfast in our mission to make wholesome food ingredients available, accessible, and affordable,” he added.
Mirepa Capital: the latest investor on the block.
Mirepa is one new investment vehicle anchored by Venture Capital Trust Fund. It secured a GHS 10M catalytic capital from the Fund in 2022. The Mirepa Capital SME Fund I is a missing middle fund that invests patient capital between US$100K – US$2M. It invests using three sector lenses: light manufacturing, technology, and cleantech/climate change mitigation, with a strong gender consideration.
Source: Mirepa Advisors
