Kenyan agritech Shamba Pride raises $3.7m to scale operations

Points clés à retenir

Small-scale farmers within Kenya's agricultural sector are a critical component that contributes 33% to the country's GDP. This sector plays a significant role in employing over 40% of the nation's population, with more than 70% residing in rural areas. The industry at large is a major driver of Kenya's economy, accounting for 65% of the nation's export revenue and serving as a vital source of innovation. Shamba Pride specializes in providing support to these farmers by establishing market links, offering Buy Now, Pay Later (BNPL) financial services, and disseminating training information through its USSD platform. Recognizing the importance of the agritech sector and the challenges within the farm input supply chain, such as sourcing, erratic pricing, quality concerns, and stockouts, the company is strategically planning to expand its operations into neighboring markets. Tanzania, Uganda, and Zambia are among the countries earmarked for exploration, aiming to address similar agricultural challenges in these regions.