Wefarm Marketplace hits $1 million in sales in its first eight months
LONDON, United Kingdom, November 6, 2019- Wefarm the digital network for global small-scale agriculture, today announced it has raised $13 million in a Series A financing round led by Silicon Valley venture capital firm True Ventures (TrueVentures.com).
This financing round will help Wefarm further scale its network of 1.9 million farmers, and its newly created Marketplace, to connect farmers in Africa, even those without internet access, to the information, products and services they need to be more successful. Investing alongside True Ventures are AgFunder and June Fund, among others. The company received significant follow-on investment from LocalGlobe, ADV and Norrsken Foundation.
Founded in 2015, Wefarm is on a mission to create a global eco-system for small-scale agriculture. With more than 1 billion people directly involved in small-scale farming, it is the biggest industry in the world. Wefarm is building the network of trust for those farmers.
Wefarm Marketplace allows farmers to easily access quality products and services, such as seeds, fertilizers and a range of other non-agricultural items from trusted retailers and brands. In line with Wefarm’s bottom-up model, all products, services and retailers on the platform have been recommended by Wefarm users and can even be purchased through SMS.
Disproportionally, smallholder farmers lose too much time and money due to fake or faulty agricultural products. Farm yields in many parts of Africa are just one-fifth of farm yield in the United States or Europe. Poor-quality seeds and fertilisers also limit growth in plants and animals. Given that smallholder farmers grow roughly 70 percent of the world’s food, Wefarm intends to use its technology to help close this yield gap.
The company’s funding announcement coincides with another notable growth milestone of reaching $1 million in total sales from the Wefarm Marketplace in just eight months since launch; that’s faster growth than both Amazon and eBay in their early stages.
With Marketplace sales growing at more than 40 percent month on month, the business is on a rapid growth trajectory. Over the next 12 months it aims to diversify into supporting farmers with both financing and delivery, as well as enabling them to trade the commodities and crops they grow, with the goal of becoming a key part of the global supply chain on behalf of the farmer.
Wefarm CEO and Founder Kenny Ewan believes the platform’s Marketplace will grow into an expansive ecosystem for smallholder farmers.
“If we can inspire 100 million farmers to work together on one platform, we can fundamentally shift global agriculture and trade in their favour, and this round of funding will take us even closer to bringing this vision for improved farm yields into fruition,” said Ewan. “It’s about harnessing AI to champion human intelligence. Our network of trust empowers farmers to find solutions to problems by knowledge sharing. In tandem, the marketplace will give them access to first-rate products that help to deliver better produce. The combination of the two has limitless potential to influence and fight the major agricultural crisis we face.”
Also Read Meet Sivi Malukisa, The Congolese Entrepreneur Whose Food Startup Is Promoting DRC Cuisine
“We are enormously inspired by how Kenny and the Wefarm team have empowered the world’s farmers, and we see great potential for their future,” said Jon Callaghan, co-founder of True Ventures. “The company is not only impact-driven, but the impressive growth of the Wefarm Marketplace demonstrates exciting commercial opportunities that will connect those farmers to more of what they need to the benefit of all, across the food supply chain. This is a big, global business.”
Egypt to establish 12 investment zones
The General Authority for Investment and Free Zones (GAFI)
CAIRO – 8 November 2019: Egypt plans to establish 12 investment zones, creating 500 thousand direct and indirect jobs and attracting investments worth LE78 billion, Minister of Investments and International Cooperation Sahar Nasr said Friday.
Nasr added while witnessing the signing of a protocol between the General Authority for Investment and Free Zones (GAFI) and the National Bank of Egypt that The protocol aims at boosting cooperation between GAFI and the National Bank of Egypt in developing the Small and medium-sized enterprises (SME).
The protocol will introduce a package of services including finance, and consultancy.
The Investment Ministry also plans to establish seven free zones, which are expected to create around 120 thousand jobs in Minya, South Sinai, New Ismailia, Aswan, Kafr el Sheikh and other places, the minister added.
Writing Beyond a Hobby! Young & Cerebral’s Creative Instincts Writing Workshop Leaves Participants Inspired
A Crowd of over 120 writers across Nigeria came together on Saturday, March 23rd, to improve their craft and take their writing career to the next level at the Young & Cerebral First Creative Instinct Writing Workshop event in Lagos, with the theme “Writing Beyond A Hobby.” The crowd was filled with representatives from literary organizations, Illustrators, Authors, Writers as well as students from schools and colleges.
The Event featured Authors, Editors and Publishers who lectured on the Journey to writing the first line, what it takes to Publish and also Writing as a trade with a Song Performance by Femi Adekoya. It was a day filled with Inspiration, Humour and Passion.
The first speaker was Sally Kenneth-Dadzie, a Blogger and a Bestselling Author. With books such as In the name of Papa, Fourth finger, The little black book, Fish brain clan, Immortals code and many more. “I was scared
taking that first step but I started writing step by step because I had a story to tell,” she told the rapt audience as she spoke on the topic, ‘The journey to writing the first line.’
She spoke on the need for consistency and a well written content as one is to be careful of what he or she puts on Social media because it always leave a paper trail. “Your Social media is your resume. These Organizations are looking for people that will represent their brand,” she concluded. The next speaker was Ufuoma Emerhor-Ashogbon, whose talk was on “What it takes to Publish?” showed that one had to have a Vision, a Message, Talent, Skill as well as Passion to begin to Publish. “When it comes to Publishing ‘do you want to read your own story?’ she posed, ‘or does your story make sense ?’ she remarked.
Ufuoma Emerhor-Ashogbon a Self-Published Author & Writer, was also present during the event.During her talk, the self-published author and writer revealed that her faith in God had guided and inspired her to let it all out. With numerous books to her name Ufuoma took care to explain the journey behind each of her books even as she did not hold back in sharing her story. “You don’t put walls up when writing a story,” she advised.
Seun Odukoya, Writer and Author also presented “Writing as a Trade” which was about believing in oneself and putting value on whatever one does.
“If you are good at something don’t do it for free. The further you go in your career, the more you charge premium”, Seun said this while speaking at the event.
“So write, read, watch movies and meet people. There is nothing more of an inspiration than life”, he stated. To this he advised participants to be focused and Consistent. “If it is one fan you have focus on that person and if you give him reason to believe in you, it will become 5, 5 will become 10 and 10 will become 15”,he concluded. Collaborators of the event were Okadabooks, Ignite Africa, Fastizers and Rite foods.
ABOUT YOUNG & CEREBRAL
Young & Cerebral is a clan of curious and imaginative storytellers based in Lagos metropolis. We help enthusiastic 18-35 year olds to triumph by providing inspiration, empowerment & opportunities so that they can achieve personal fulfillment.
We preach “Self Actualization” through our Media & Brand Services. We profile thought-leaders, inventors, influencers, founders, whose lives embody our message. During our Saturday shows on Unilag103.1FM and LagosTalks 91.3FM, we celebrate & focus on individuals who make a difference across a wide variety of industries including but not limited to Marketing, Banking, Film, Telecom, Fashion, HR, Tech, Music, Food,
Education and Photography.
Find us on social media: @youngcerebral
Dangote feeds 30,000 IDPs in Zamfara
The farmers-herders clash and sporadic attacks by cattle rustlers have displaced thousands, many of whom are currently seeking refuge at Maradun Local Government Area of the State
LAGOS, Nigeria, January 22, 2019/ — In yet another massive intervention, the Aliko Dangote Foundation Monday officially launched a major philanthropic programme in Zamfara State, doling out food items running into several millions of naira to support victims of insurgency.
The farmers-herders clash and sporadic attacks by cattle rustlers have displaced thousands, many of whom are currently seeking refuge at Maradun Local Government Area of the State.
According to official reports over 3,000 people have been killed, about 100,000 displaced, of which about 30,000 are in Maradun LG, and over 500 people kidnapped.
Group Executive Director Government Relations and Strategic Relations Mansur Ahmed who presented the food items on behalf of the Group President Aliko Dangote said the Foundation was supporting the government and traditional leaders in meeting the needs of the IDPs.
Only recently Mr. Dangote was rated world’s 6th largest donors, and Africa’s richest person for almost a decade. His Aliko Dangote Foundation has been endowed with a staggering $1.25billion. He was also listed by Forbes Magazine among the 75 people that make the world turn.
Dangote Foundation had also injected over N7billion to create soccour in North East in the wake of the Boko Haram insurgency.
Mr. Ahmed, an Engineer, said Mr. Dangote was very disturbed about the plight of the displaced persons and quickly directed that everything possible be done to provide succor.
Mr. Ahmed said the company was building a 2000 ton capacity of rice mill in Maradun and that when completed this year it would create hundreds of job opportunities for the people of Zamfara State.
Responding, the Emir of Maradun Muhammad Garba Tambari said he was highly elated as the company is the first to intervene by providing food support for displaced persons.
He commended Mr Dangote for the gesture and promise to help secure his investment in his Emirate.
Chairman of the Maradun Local Government Alhaji Yahayah Shehu Maradun thanked the Dangote Foundation for the gesture and pray God to continue to bless the Dangote business.
Our reporter sighted trucks of food items being offloaded at the silos and at the official presentation of the relief material at the Palace of the Emir of Maradun.
Some of the items delivered include: Trucks of Semolina, sphagetti, sugar, wheatmeal and Macroni.
Victims at the IDP camp who recounted their ordeal described the crisis as the worst in the country in the past five years.
They regretted that state have been neglected by government and mainstream media.
Mrs Inno Usman, 50, from Mallamai District lost a husband to the crisis and has eight children at the IDP camp. She said five men including her husband were killed by the marauders.
Mrs Usman described the intervention of Dangote as timely, while urging other donors to emulate the the Aliko Dangote Foundation.
Another victim, Mrs Kenan Usman said her husband was also killed in a gruesome manner and that she escaped with her five children by the whiskers.
She said before the coming of Dangote Foundation they have been accommodated at the IDP camp in Maradun since November 2018, regretting that there is no date foe their return as the insurgents still hold sway in their various villages.
For Inno Aliyu Sani, 60, 21 people were killed including four women, and cows running into hundreds were stolen by the rustlers.
“We can’t go back. The killers are still there,” she said.
Abubakar Garba from Rudun village said for the past five years marauders had sacked everyone in the village but that government was doing anything address the situation until now.
Distributed by APO Group on behalf of Aliko Dangote Foundation.
- Business Home1 day ago
African Entrepreneurs in Jack Ma Foundation Africa Netpreneur Prize Initiative Win $1 Million
- Business Home3 days ago
Venture Capital for Africa Launches First Dedicated Online Training Program for Africa’s Business Angels
- Economy3 days ago
Egypt, PRL sign train engines contracts worth $466.3M