- Village Capital has committed $850,000 to two agritech startups, Aquarech from Kenya and Coamana from Nigeria, as part of its Reducing Inequalities Investment Facility.
- Aquarech addresses fish farmers’ challenges with a buy-now-pay-later scheme for fish feed, coupled with training and agricultural tools to improve techniques and incomes.
- Coamana, established in 2018, digitises farmer management operations through its marketplace platform, Amana Market, providing product sales, loans, and market insights.
- These investments reflect a broader trend of leveraging technology to modernise Africa’s agricultural sector, enhancing connectivity and innovation among farmers.
Village Capital, an international nonprofit focused on supporting early-stage ventures, has announced significant financial commitments to two promising agritech startups: Aquarech from Kenya and Coamana from Nigeria.
The total investment of $850,000 is part of Village Capital’s Reducing Inequalities Investment Facility, supported by the MASSIF Fund managed by FMO, the Dutch entrepreneurial development bank.
Aquarech is addressing the challenges faced by fish farmers by introducing a buy-now-pay-later (BNPL) scheme specifically for fish feed.
This innovative approach alleviates the financial burden on farmers and provides additional support through training and agricultural tools aimed at improving farming techniques and increasing farmer incomes.
Established in 2018, Coamana is transforming farmer management operations by digitising them.
Through its marketplace platform, Amana Market, Coamana connects farmers and traders, offering services such as product sales, access to loans, and real-time market insights. Coamana’s mission is to enhance farmers’ earning potential by providing crucial data to make informed decisions about when and where to market their products.
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Kavon Badie, an Investment Officer at Village Capital, expressed enthusiasm for supporting Coamana’s efforts to develop a comprehensive digital framework for agricultural commerce throughout Africa.
These strategic investments highlight a growing trend of leveraging technology to address the unique challenges within Africa’s agricultural sector. By fostering innovation, startups like Aquarech and Coamana are instrumental in connecting farmers with markets and services, contributing to the overall growth and modernization of agriculture on the continent.
