Sommalife, the Wa-based shea-focused agtech platform, has closed an undisclosed funding round from Wangara Green Ventures. Sommalife Limited is rapidly establishing itself as a leader in merging technology, productivity, and environmental sustainability.
What problem is Sommalife solving?
Over 16 million women in West Africa, particularly Ghana, depend on shea nut production for survival. However, desertification, claiming 20,000 hectares of land annually, threatens both their livelihoods and the environment. Unsustainable practices, including overreliance on shea trees for charcoal production, further endanger these vital resources.
Compounding these challenges, limited market access keeps farmers disconnected from international buyers, potentially lowering their profits. Additionally, a lack of resources and knowledge in sustainable agriculture hinders both economic gain and conservation efforts, pushing these women deeper into poverty.
Founded in 2020 by Mawuse Gyisun and JohnCarl Dunyo, Sommalife is digitising the shea supply chain and providing the needed tools and resources to smallholder farmers to improve their income. Using its proprietary software, TreeSyt, the company digitises the operations of smallholder farmers, empowers them to be climate-resilient through its conservation activities and connects them to international markets. Farmers are thus able to earn fair wages, usually 21% above local market prices, while corporate buyers also get access to traceable commodities.
Since 2022, the company has onboarded 65,000 farmers on its platform and has connected 15,000 farmers to international markets. Sommalife makes revenue by charging a 30% margin on the commodities sold. Revenues have grown from $2,000 in 2020 to $1.2 million in 2022.
What will the investment be used for?
The investment by Wangara Green Ventures will enable Sommalife to expand its operations, support more rural farmers, and increase its community impact. The funding will enhance Sommalife’s ability to pre-finance producers, improve market access, and extend environmental conservation efforts, thereby promoting sustainable development and poverty alleviation in rural Ghana.
“We are delighted to join forces with Wangara Green Ventures. This is a testament to our shared vision of promoting economic empowerment, environmental sustainability, and community development. This collaboration marks a significant step forward in our mission to drive positive change and improve the livelihoods of smallholder farmers in West Africa, with a special focus on women farmers.” said Mawuse Christina Gyisun, Co-founder of Sommalife Limited
Source: Wangara
