Oyster Agribusiness, a pioneering agritech company specialising in climate-smart agriculture, has secured $2 million in funding to expand its operations and further support smallholder farmers across Ghana.
This funding round was led by Pangea Africa Limited, with support from Root Capital, RDF Ghana, and the Sahel Capital Social Enterprise Fund for Agriculture in Africa (SEFAA FUND).
Over the past five years, Oyster Agribusiness has significantly impacted the lives of smallholder farmers by promoting sustainable agricultural practices. The company has paid over GH¢60 million ($3.8 million) to smallholder farmers, positively affected the lives of 4,500 farmers, cultivated over 20,000 acres of farmland, and supplied over 25,000 tons of agricultural produce to both local and international markets
CEO Edmond Kombat expressed his excitement about the investment and the company’s future: “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 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 key role in structuring and guiding the fundraising process, ensuring that Oyster Agribusiness attracted the right partners to achieve this win.
“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,” said Nii Lokko, Partner at Pangea Africa Limited.
World Bank’s recent $40 million investment in the AICCRA project highlights a growing global focus on climate-smart agriculture and its role in mitigating the impacts of climate change. By investing in innovative agritech solutions like Oyster Agribusiness, Africa can build a more sustainable and resilient food system for the future.
