Edmond Kombat, CEO of Oyster Agribuinsess, in green shirt, interacting with some farmers
Oyster Agribusiness, an agri-tech company specialising in climate-smart agriculture, has raised $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.
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 among others paid over GH¢60 million to smallholder farmers, positively impacted the lives of 4,500 smallholder farmers, cultivated over 20,000 acres of farm land and supplied over 25,000 tonnes 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 of Oyster Agribuinsess, Edmond Kombat, said, “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 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,” Partner, Pangea Africa Ltd Nii Lokko said.
A Business Desk Report