Ghanaian agritech startup Oyster Agribusiness has recently secured a substantial $2 million investment to further develop its climate-smart farming initiatives. The funding round was led by Pangea Africa Limited and also received support from Root Capital, RDF Ghana, and Sahel Capital’s SEFAA Fund.
This financial injection will enable Oyster Agribusiness to expand its reach to more farmers and strengthen its climate-focused programs. This is particularly important as Ghana’s agriculture sector continues to face mounting challenges brought on by climate change.
Established in 2018, Oyster Agribusiness is dedicated to supporting smallholder farmers by providing sustainable inputs, implementing modern agronomic practices, and ensuring a reliable market for their produce. The company utilizes cutting-edge technology, including drones for crop spraying and seeders for planting, to enhance operational efficiency.
Over the past five years, Oyster Agribusiness has positively impacted approximately 4,500 small farmers, cultivated over 20,000 acres of land, and supplied 25,000 tons of produce both locally and internationally. Through these efforts, the company has disbursed around $3.8 million to its network of farmers.
Earlier this year, Oyster Agribusiness also secured $310,000 to further promote sustainable agriculture, gender inclusion, and talent management within the industry.
Agriculture plays a pivotal role in Ghana’s economy, with the sector projected to grow from $3.4 billion in 2024 to nearly $3.9 billion by 2029. However, one of the key challenges faced by the industry is attracting young people to pursue careers in farming. Ishak Shaibu from Kwadaso Agric College highlighted the importance of integrating agricultural training with IT skills to make the sector more appealing to the younger generation.
Overall, Oyster Agribusiness’s innovative approach to sustainable farming and commitment to empowering smallholder farmers position them as a key player in driving positive change within Ghana’s agriculture sector.
(Source: Techpoint Africa)
