Oyster Agribusiness, an innovative agri-tech company specialising in climate-smart agriculture, has raised US$2 million in funding to expand its operations and deepen its impact on smallholder farmers across Ghana.
This milestone was made possible through the support of Root Capital, RDF Ghana, and Sahel Capital Social Enterprise Fund for Agriculture in Africa (SEFAA FUND), with the fundraising process led by Pangea Africa Limited, a leading Business Development Service provider.
Over the last five years, Oyster Agribusiness has played a pivotal role in transforming the livelihoods of smallholder farmers and promoting sustainable agricultural practices.
The company has paid over GH¢60 million ($3.8million) to smallholder farmers, impacted the lives of 4,500 smallholder farmers, cultivated over 20,000 acres of farmland, supplied over 25,000 tons of agricultural produce to markets locally and internationally.
This fresh capital injection will allow Oyster Agribusiness to expand its operations, reach more farmers, and scale its climate-smart agricultural initiatives, further strengthening the resilience of Ghana’s agricultural sector in the face of climate challenges.
CEO, Edmond Kombat, speaking on the investment and the future of the company said, “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 to 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.”
The Parnter of Pangea Africa Limited, Nii Lokko, for his part underlined that his outfit played a crucial role in structuring and guiding the fundraising process, ensuring that Oyster Agribusiness attracted the right partners to scale its operations while maintaining its focus on environmental sustainability and empowering smallholder farmers.
“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,” he outlined.
Oyster Agribusiness is a climate-smart agricultural company dedicated to supporting smallholder farmers through technology and sustainable farming solutions. By working closely with farmers, the company aims to improve productivity, foster economic growth, and contribute to food security in Ghana.
Pangea Africa Ventures is a business development service provider that supports startups and growth-stage businesses across Africa. With a focus on innovation, sustainability, and impact, Pangea helps companies to scale their operations, access new markets, and raise capital