- Business model
AgriFI – the EU Agriculture Financing Initiative – and Seedstars Africa Ventures announce a strategic investment of USD 3.7 million in Shamba Pride, a pioneering Agri SME based in Kenya.
Shamba Pride is tackling the logistical issue of providing quality and affordable agriculture inputs, services and information to smallholders by focusing on the agro-dealers (or agrovets) that they empower with digital services and a franchise network. It sources agri inputs directly from large manufacturers and provides them directly into rural areas, cutting intermediaries in the process.
EDFI AgriFI will invest USD 2 million together with Seedstars Africa Ventures who has committed an additional USD 1.7 million in equity. The financing aims at supporting the company to grow its current activities in Kenya and build additional services. The financing will enable the company to develop its franchise network and benefit from additional working capital to source agri inputs in bulk, which both will increase the impact in rural areas.
EDFI AgriFI is willing to support Shamba Pride, a SME with high impact in rural areas, which requires appropriate long-term debt to scale up. By becoming the first long term debt provider alongside additional equity investors, EDFI AgriFI will contribute to support Shamba Pride to reach 200 000+ farmers by the end of 2025.
- Smallholder farmers