KENYA – FarmMoja, a Kenyan based provider of training and extension services to smallholder farmers, has received an undisclosed amount of investment from ADAP Capital LLC, to enable it expand operations.
The support was issued through ADAP’s Fund 2, making it its 12th portfolio investment and 23rd for ADAP to date.
According to ADAP, FarmMoja’s model of delivering effective end-to-end agricultural development has the potential to transform millions of productive global agricultural producers across the region.
“The investment from ADAP Capital comes at a critical time for us as a business as we deliver more innovative agricultural technologies that boost farm productivity, fundamentally changing the current sales opportunities for small-holder farmers,” said Kevin Kibet Mochama, Founder & Managing Director.
“We’re excited to work with ADAP Advisory to build on our current foundations as we look to expand our model further towards reaching our goal of working with a million smallholder farmers by 2030,” he added.
The agricultural service provider has piloted its initial model in the Kericho region, west of the Kenyan Rift Valley, working with 100s of farmers, utilizing its demonstration farm for research, practical learning and skills training.
Incorporating intercropping potential and greater crop diversification is at the centre of the FarmMoja process.
“We’re excited to work with ADAP Advisory to build on our current foundations as we look to expand our model further towards reaching our goal of working with a million smallholder farmers by 2030.”Kevin Kibet Mochama – Founder & Managing Director
“FarmMoja’s founding team are a great reflection of ADAP Fund 2’s innovative and inclusive approach, providing great understanding of their core customer base and visionary leadership to imagine a different future for millions of small-holder farmers.
“ADAP is looking forward to supporting them as they continue to build on the progress so far and develop a long-term sustainable social business. We’re also looking forward to meeting with them in person as soon as the COVID restrictions allow,” said ADAP Founder Andy Lower.
Despite accounting for 75% of the total food produced and 60% of the produce exported by the country, approximately 56% of smallholder farmers in Kenya are still trapped in poverty with 51% being food insecure during certain periods of the year.
This negative economic impact is largely due to the use of limited technology, poor inputs and lack of well-defined market opportunities.
ADAP Capital has a diverse portfolio of pioneering social entrepreneurs who have innovative models that are eradicating extreme poverty in emerging markets.
By investing early and then partnering with the entrepreneurs as they work through the pioneer gap, ADAP creates and captures untapped value.
The impact investor is committed to an inclusive investment approach; 73% of the current Fund 2 portfolio founders are female, 91% are people of colour.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE