Village Capital, an international nonprofit dedicated to supporting early-stage ventures, has disclosed its latest financial commitments to two promising agritech startups, Aquarech from Kenya and Coamana from Nigeria. The investment, totaling $850,000, is part of Village Capital’s Reducing Inequalities Investment Facility, which is backed by the MASSIF Fund managed by FMO, the Dutch entrepreneurial development bank.
Aquarech is tackling the obstacles that confront fish farmers by introducing a buy-now-pay-later (BNPL) scheme specifically for fish feed. This innovative approach not only eases the financial burden on farmers but also comes with additional support in the form of training and agricultural tools aimed at improving farming techniques and increasing farmer incomes.
On the other hand, Coamana, established in 2018, is revolutionizing the way farmer management operations are handled by digitizing them. Through its marketplace platform, Amana Market, Coamana creates a vital link between farmers and traders. The platform facilitates a range of services, including product sales, access to loans, and delivery of real-time market insights. Coamana’s mission is to enhance the earning potential of farmers by providing them with the necessary data to make informed decisions about when and where to market their products.
Kavon Badie, an Investment Officer at Village Capital, expressed enthusiasm about supporting Coamana’s efforts to develop a comprehensive digital framework for agricultural commerce throughout Africa.
These strategic investments underscore a broader 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, thereby contributing to the overall growth and modernization of agriculture on the continent.
