Agri fintechs are companies that offer tech solutions to allow financial institutions and rural actors access to financial information, offer or receive loans, manage farms, or trade farm products. In 2021, those startups operating in Africa secured a US$75 million investment. The amount was the lowest globally but, it is up from the amounts the continent raised in 2019 and 2020.
African agri fintech raised the lowest volume of venture capital globally in 2021, according to a recent report published by consulting firm Graze.
While North American agri fintech raised US$650 million of venture capital that year, their Latin American and European counterparts raised US$214 million and 124 million respectively. Meanwhile, African agri fintech raised just US$75 million.
Although the amount is comparatively lower than the volume raised by other continents, it is substantially up compared to its 2-year level. Indeed, from US$1 million in 2019, the volume of venture capital raised by African agri fintech rose to US$10 million in 2020 before its sharp rise to US$75 million in 2021.
The number of deals closed also increased from 3 in 2019 and 2020, to 16 in 2021. Twiga Foods captured the largest share of the amount raised with US$50 million. It was followed by SunCulture, which secured US$14 million.
Overall, the venture capital investment attracted by agri fintech globally represented just 1% of the US$600 billion of venture capital investments secured worldwide in 2021. "Generally, investors have remained apprehensive about agriculture as it is seen as a high-risk sector," commented Graze founder Niall Haughey.
Let’s note however that the volume of venture capital investments attracted by agri fintech worldwide are sharply rising since 2019.
Chamberline Moko
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Morocco began expanding Casablanca Airport to raise capacity to 35M passengers by 2029• The $1.7B project supports the “Airports 2030” plan to...
• DRC extended its cobalt export ban to September 2025 due to high stock levels.• Major producers like CMOC face delivery issues; supply risks remain but...
• Eskom restored Medupi Unit 4 early, adding 800 MW and helping end load-shedding• Coal still dominates South Africa’s power, slowing the energy...
• Ethiopia completed the $4B Grand Renaissance Dam to boost power capacity and energy independence• Egypt and Sudan fear water supply risks, with no...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...