Ghana’s Oyster Agribusiness Secures $2 Million to Boost Climate-Smart Agriculture
Ghana-based agri-tech innovator, Oyster Agribusiness, has secured $2 million in new funding to expand its climate-smart agriculture initiatives. The investment, led by Pangea Africa Limited with contributions from Root Capital, RDF Ghana, and Sahel Capital’s SEFAA FUND, will allow the company to broaden its reach and support more smallholder farmers amid mounting climate challenges.
Scaling Sustainable Agriculture
Oyster Agribusiness, founded in 2018, is committed to empowering smallholder farmers with sustainable inputs, advanced agronomic practices, and consistent market access. By utilizing cutting-edge technology like seeders for planting and drones for spraying, the company aims to increase efficiency and improve yields.
Over the last five years, Oyster Agribusiness has disbursed over GH¢60 million ($3.8 million) to support 4,500 farmers across 20,000 acres, supplying 25,000 tons of produce to local and international markets. CEO Edmond Kombat commented, “This investment is a testament to the impact we’ve made with smallholder farmers and the potential to scale our operations for a sustainable, resilient agricultural ecosystem in Ghana.”
The Growing Agritech Sector in Ghana
Oyster Agribusiness previously raised $310,000 in August 2023 to enhance its sustainable and inclusive farming initiatives. With the Ghanaian agricultural sector expected to grow from $3.4 billion in 2024 to $3.87 billion by 2029, the contributions of agritech companies are increasingly critical.
The cumulative investment in African agritech startups reached $864.2 million in 2023, reflecting a growing recognition of the sector’s role in economic resilience. Experts, including Ishak Shaibu from Kwadaso Agric College, emphasize the importance of integrating IT with agricultural training to attract more youth to farming—a vital step in sustaining Ghana’s agricultural backbone.