Last year, in our This Week in Ghana newsletter, we reported on a GB Foods job listing that signalled a new growth strategy—investing in startups and SMEs across Africa’s food systems. Now, the cat is out of the bag. The FMCG conglomerate behind popular tomato purée brands Gino and Pomo has appointed Innohub’s Nelson Amo to lead GB Hub Africa, its social impact vehicle focused on investing in Africa’s food systems to improve livelihoods.
With Amo at the helm, GBHub Africa is poised to become a key player in Africa’s agribusiness investment space. Amo brings extensive experience in impact investment, having led Innohub, a Ghanaian business accelerator that has helped scale numerous SMEs across various sectors. His expertise in nurturing early-stage enterprises and securing funding for high-growth startups makes him an ideal fit to spearhead GBHub Africa’s ambitious vision.
A $10 Million commitment to Africa’s food ecosystem.
GBHub Africa has received a $10 million seed fund from GB Foods’ shareholders to drive investments in innovative agribusinesses and sustainable food systems across the continent. The initiative is built on four key pillars: food security, improving nutrition, environmental sustainability, and economic development. The fund aims to strengthen Africa’s capacity to produce and distribute food efficiently, support businesses that enhance access to nutritious and affordable food, encourage sustainable farming and food processing practices, and empower local entrepreneurs while boosting employment in the agricultural sector.
Investment focus: strengthening Africa’s agricultural value chain
Its core investments will target startups and SMEs in the agriculture value chain with a strong focus on farm inputs such as organic fertilizers and soil improvement technologies, farming operations that promote structured block farming models, value addition and processing initiatives, sustainable and cost-effective packaging innovations, and logistics and market access solutions to enhance supply chain infrastructure and improve farm-to-market linkages.
GBHub Africa has already piloted two key projects to demonstrate its commitment to innovation and sustainability. The first is a tomato block farming initiative in Kebbi State, Nigeria, aimed at improving local tomato production and reducing reliance on imports. The second is a PET packaging recycling factory in Guinea Conakry, designed to create a circular economy for plastic waste in food packaging.
First investment in a Ghanaian agritech company.
The fund has already made its first commitment in Ghana, backing a promising agritech startup. The startup’s name has yet to be disclosed.
