{"id":19290,"date":"2022-04-26T17:14:39","date_gmt":"2022-04-26T17:14:39","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/farmerline-secures-gh%c2%a297m-to-help-african-farmers-and-agribusinesses"},"modified":"2022-04-26T18:14:51","modified_gmt":"2022-04-26T18:14:51","slug":"farmerline-secures-gh%c2%a297m-to-help-african-farmers-and-agribusinesses","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/farmerline-secures-gh%c2%a297m-to-help-african-farmers-and-agribusinesses","title":{"rendered":"Farmerline secures GH\u00a297m to help African farmers and agribusinesses"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Farmerline Group, the Africa continent\u2019s amazon for African farmers has secured an estimated GH\u00a297 million in Pre-Series \u2018A\u2019 investment and working capital to strengthen its supply chain for agribusinesses.<\/p>\n

The investment would also help to reduce the cost of farming; and increase yield for farmers on the continent through the deployment of AI technology and local infrastructure.<\/p>\n

The lenders of the working capital include; DEG, Rabobank, Ceniarth, Rippleworks, Mulago Foundation, Whole Planet Foundation, Netri Foundation and Kiva.<\/p>\n

The Farmerline Group made this known in a press release copied to the Ghana News Agency on Tuesday.<\/p>\n

It said: \u201cToday, farmers feed one-third of the world and will need to increase production by 70 per cent to cater for nine billion people by 2050.\u201d a statement issued by Farmerline and copied to the Ghana News Agency on Tuesday has said.<\/p>\n

\u201cCurrently, post-harvest losses of food cereals in Sub-Saharan Africa are estimated at $4 billion due to factors such as access to timely agronomic education. Meanwhile, fertilizer use is 14kg per hectare as compared to 120kg for their counterparts globally,\u201d it stated.<\/p>\n

The release said in recent times, Africa\u2019s agribusiness sector had been coined the \u2018new oil\u2019 and was predicted to reach US$ one trillion by 2030 and that the continent would need eight times more fertilizer and six times more improved seeds to realize its full agricultural potential.<\/p>\n

It said Farmerline\u2019s marketplace combines digital tools, logistics, field agents, farm resources and<\/p>\n

Agribusiness partnerships to support African farmers with access to high-quality fertilizer and<\/p>\n

Seeds; free education on climate-smart farming practices; and connections to international markets.<\/p>\n

\u201cThe company\u2019s in-house technology platform Mergdata is also licensed by global food traders and<\/p>\n

Manufacturers, who use its customizable tools to improve the lives of farmers around the world,\u201d it stated.<\/p>\n

The release said the Pre-Series A investment, led by Acumen Resilient Agriculture Fund (ARAF) and FMO, the Dutch entrepreneurial development bank, is Farmerline\u2019s first equity raise since launching with a $600 grant almost a decade ago.\u201d<\/p>\n

The other investor of the equity round is Greater Impact Foundation, it stated, and that to date; the company had digitized over one million farmers through partnerships across 26 countries.<\/p>\n

It has employed over 200 people in Ghana; and evolved Mergdata into an AI-powered super platform for supply chain intelligence like crop yield prediction, fertilizer demand forecasting, product traceability, and Agribusiness credit scoring for asset and fertilizer financing.<\/p>\n

It noted that when COVID hit in 2020, over 16,000 agribusiness firms closed down in Ghana, saying however that those who did pull through presented themselves as some of the most efficient and sustainable ways to reach Africa\u2019s 33 million smallholder farms, hence, Farmerline works through agricultural SMEs to ultimately serve more farmers.<\/p>\n

Mr Alloysius Attah, the Farmerline Co-founder on his part said: \u201cAt the peak of the pandemic, local agricultural small and medium enterprises (SMEs) played a vital role in ensuring food security by supporting farmers with agricultural inputs and distributing to final consumers.\u201d \u2013<\/p>\n

\u201cWith this new investment, we will scale the AI capabilities within Farmerline\u2019s Mergdata platform to help increase the income of farmers and agribusinesses; supporting them to access farm inputs; supplying them with assets such as tricycles, tractors and threshers; and connecting them to global markets,\u201d he stated.<\/p>\n

He said Farmerline would also invest in local infrastructure and logistics to support distribution, and accelerate the industry\u2019s marketplace currently across Ghana with plans to deepen relations with partners in Ivory Coast.<\/p>\n

\u201cThis investment is a pivotal moment for our industry and a chance for us all to transform the way we work together as a community to benefit the lives of farmers who currently feed one-third of the world \u2026 and will need to increase production by 70 per cent to feed nine billion people in 2050. A dynamic agribusiness sector is crucial to the success of this.\u201d Mr Attah said.<\/p>\n

Mr Emmanuel Owusu Addai said: \u201cFarmerline\u2019s goal has always been to create lasting wealth for farmers and their communities.<\/p>\n

\u201cTo do that at scale, we\u2019re expanding our operations across regions and are actively on the lookout for the best talent to help build an efficient supply chain that saves money for agribusinesses, reduces the cost of farming and the time it takes for people to get services to rural areas. We must ensure that local agribusinesses grow because when they do, we all succeed.\u201d<\/p>\n

Tamer El-Raghy, Managing Director of ARAF said: \u201cWe\u2019re honoured to co-lead this investment round in Farmerline with FMO and excited to partner with world-class Ghanaian entrepreneurs like Alloysius and Emmanuel.\u201d<\/p>\n

Maurice Scheepens, Senior Investment Officer for FMO\u2019s Venture Programme, added: \u201cWe are honoured to be part of Farmerline\u2019s first institutional capital raise together with our partner ARAF.\u201d<\/p>\n

\u201cFarmerline is an excellent addition to FMO\u2019s Ventures Programme portfolio, which aims to empower local entrepreneurs that leverage disruptive technology for a better world.<\/p>\n

\u201cWe are impressed with the platform the local founding entrepreneurs have been able to build and look forward to leveraging FMO\u2019s network and value-add offerings to sustainably support Famerline\u2019s continued growth,\u201d he said.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Farmerline Group, the Africa continent\u2019s amazon for African farmers has secured an estimated GH\u00a297 million in Pre-Series \u2018A\u2019 investment and working capital to strengthen its supply chain for agribusinesses. The investment would also help to reduce the cost of farming; and increase yield for farmers on the continent through the deployment of […]<\/p>\n","protected":false},"author":84,"featured_media":19289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,8],"tags":[5092,5096,8473,8474,429],"class_list":["post-19290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-homepage-english","tag-africa-press","tag-africa-press-ghana","tag-agribusinesses","tag-farmerline","tag-ghana"],"yoast_head":"\nFarmerline secures GH\u00a297m to help African farmers and agribusinesses - Ghana<\/title>\n<meta name=\"description\" content=\"Farmerline Group, the Africa continent\u2019s amazon for African farmers has secured an estimated GH\u00a297 million in Pre-Series ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/farmerline-secures-gh\u00a297m-to-help-african-farmers-and-agribusinesses\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Farmerline secures GH\u00a297m to help African farmers and agribusinesses\" \/>\n<meta property=\"og:description\" content=\"Farmerline Group, the Africa continent\u2019s amazon for African farmers has secured an estimated GH\u00a297 million in Pre-Series ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/farmerline-secures-gh\u00a297m-to-help-african-farmers-and-agribusinesses\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-26T17:14:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-26T18:14:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/04\/img-6268366e8e158.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"477\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/farmerline-secures-gh%c2%a297m-to-help-african-farmers-and-agribusinesses#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/farmerline-secures-gh%c2%a297m-to-help-african-farmers-and-agribusinesses\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Farmerline secures GH\u00a297m to help African farmers and agribusinesses\",\"datePublished\":\"2022-04-26T17:14:39+00:00\",\"dateModified\":\"2022-04-26T18:14:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/farmerline-secures-gh%c2%a297m-to-help-african-farmers-and-agribusinesses\"},\"wordCount\":865,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/farmerline-secures-gh%c2%a297m-to-help-african-farmers-and-agribusinesses#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/04\/img-6268366e8e158.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"agribusinesses\",\"Farmerline\",\"ghana\"],\"articleSection\":[\"all news\",\"community\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/farmerline-secures-gh%c2%a297m-to-help-african-farmers-and-agribusinesses#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/farmerline-secures-gh%c2%a297m-to-help-african-farmers-and-agribusinesses\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/farmerline-secures-gh%c2%a297m-to-help-african-farmers-and-agribusinesses\",\"name\":\"Farmerline secures GH\u00a297m to help African farmers and agribusinesses - 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