Oyster Agribusiness raises $310,000 to drive sustainable agriculture
Oyster Agribusiness, an agricultural technology (AgriTech) enterprise collaborating closely with smallholder farmers, has raised funds to advance its mission of sustainable agriculture, gender inclusivity and talent management.
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The company has recently garnered US$310,000 in grants and a line of credit for funding, marking a significant milestone in its journey towards effecting positive change in the agricultural sector.
Root Capital, a respected nonprofit lender committed to promoting resilience and prosperity in rural communities, extended Oyster Agribusiness a substantial line of US$300,000 credit.
“This financial infusion will play a pivotal role in expanding our operations and extending assistance to more smallholder farmers in need.
With this capital injection, we aspire to empower an even greater number of farmers, augmenting the current 3,000 smallholder farmers we collaborate with,” The founder/CEO of Oyster Agribusiness, Edmond Kombat, said.
“Through provisions like sustainable fertilizers, compost, improved seeds, and expert agronomical practices, our goal is to elevate their productivity and enhance their livelihoods,” he added.
"We express our deep gratitude to Root Capital, our collaborative partners, and the grant providers for acknowledging the worth of our endeavors and the potential of smallholder farmers," he stated.
"This funding will enable us to broaden our outreach, strengthen our gender inclusivity initiatives, and invest in our exceptional team, propelling us closer to our vision of a flourishing, sustainable agricultural sector," he said.
Mr Kombat explained that Oyster Agribusiness leveraged technologies such as temperature and moisture sensors, aerial images, GPS technology, automation, information monitoring, and data gathering and analysis.
This comprehensive technological integration not only enhances efficiency in our smallholder farms but also augments yields, trims costs, and reinforces sustainability, making our approach environmentally conscious.
These climate-smart agricultural practices contribute to improved forecasting and decision-making processes, ensuring efficient delivery of farm inputs to our farmers and the transportation of farm produce from our farmers to our off-takers.
Additionally, Oyster Agribusiness has been awarded two generous grants to underpin crucial elements of our social impact initiatives which include a Gender Inclusion Grant and a Talent Management Grant.
The former will be allocated to promote gender equality and empower women within the agricultural landscape.
Oyster Agribusiness firmly believes that nurturing gender inclusivity is pivotal for the sustainable growth of farming communities.
"Through this grant, we will introduce targeted programmes aimed at granting women farmers’ enhanced access to resources, training, and decision-making roles, thereby reinforcing their contributions to the sector," Mr. Kombat noted.
Human capital forms the bedrock of Oyster Agribusiness's accomplishments, and this grant is dedicated to nurturing our talented pool of professionals.
By investing in talent development, we aspire to foster a culture of innovation, excellence, and empathy, equipping us to better cater to the needs of farmers and drive enduring positive change, he said of the latter.
Oyster Agribusiness is firmly convinced that sustainable agriculture and ethical business practices have the potential to catalyze social and economic transformation.
With the unwavering support of its partners, stakeholders, and the commitment of our dynamic team, we are confident that these freshly acquired funds will accelerate our endeavors to forge a more equitable, resilient, and prosperous agricultural ecosystem.
About Oyster Agribusiness
Oyster Agribusiness Limited, a limited liability company, was founded in April, 2018.
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The company’s primary activity is the production and processing of agriculture produce for the local and export market.