Denis Opudo
According to the Agric- Tech Startups’ report, Africa has 82 active Agric-tech startups. The main players in Agricultural sector in Africa comprise Kenya, Nigeria, and Ghana. The three countries had more than 60% active Agric-tech startups in the continent. The new revolution of this sector boomed since 2016 with forty-three new ventures. During this period, the continent recorded 110% growth in Agric-tech. The Agric-tech investment was worth $19million in the last 24 months.
Tom Jackson, the Disrupt Africa co-founder, explained that West-Africa dominates the Agric-tech market. Out of the three top Agric-tech startups in the continent, two originate from the region. Despite the critical roles of agriculture in the continent, the sector remained neglected. However, things started to change recently through mitigation of farmers’ problem in Africa. The increased interest of the Agric-tech ecosystem resulted in 121% growth in fundraising in 2016-2017. He added that investors have woken-up to tap opportunities in the Agric-tech ecosystem.
The co-founder of Nairobi-based Disrupt Africa, Gabriella Mulligan, noted about its rapid growth rate. He added that the application of innovation in the agricultural sector is of a great benefit.
