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Kenya: Covid-19 recovery dependent on agritech innovation

Kenya is becoming a hotspot for agritech innovation in sub-Saharan Africa. There are more than 100 solutions in the market driving growth, productivity and sustainability in the agrifood value chain. Companies like Twiga Foods, Apollo Agriculture, iProcure, Safaricom‘s DigiFarm, and Farmers Pride are sourcing a digital revolution in agriculture with services like procurement, last-mile distribution, access to finance and quality inputs, weather monitoring and yield predictions.

Industry experts claim these technologies have the potential to drive the country’s economic rebound from Covid-19.

The plethora of new ag technologies in East Africa’s biggest economy has attracted the attention of global investors, who are focusing on impact-centric companies addressing rural poverty, food security, economic growth, and environmental protection. Last-mile logistics company Twiga Foods last month raised a $50 million Series C round, backed by Creadev, TLcom Capital, Endeavor Catalyst, IFC Venture Capital Group, Finnfund, and others.

Source: agfundernews.com

 

Photo source: Farmers Pride


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