Babban Gona, a Nigerian agri-tech startup, has announced the acquisition of $7.5 million in debt funding from British International Investment. This capital is aimed at supporting smallholder farmers in Northern Nigeria.
New Investments and Their Significance
Babban Gona aims to enhance climate resilience for farmers and ensure food security in the country. With this investment, the startup will scale its innovative model and improve the yields for about 150,000 farmers by 2029. Founder and Managing Director Kola Masha remarked that this investment is an acknowledgment of the gap Babban Gona is filling in Nigeria's agricultural sector.
CITE_W_A: "We are thrilled to have them partner with us in this next phase of our journey as we accelerate the impact of our work."
Babban Gona's Operational Model
Founded in 2012, Babban Gona has developed an innovative model that supports smallholder farmers. The company utilizes artificial intelligence to analyze farm conditions and provides access to finance, training, and services. Through groups made up of 3-5 farmers, Babban Gona trains them in agronomy, financial literacy, and business skills.
Babban Gona's Role in Nigeria's Agriculture
Since its launch, Babban Gona has assisted over 110,000 smallholder farmers and operates in 15 Northern states of Nigeria. Starting with 100 members in Kaduna State, the organization has demonstrated that private entities can introduce innovation in Nigeria's agriculture, leading to job creation and improved food security.
The investment by Babban Gona from British International Investment highlights the importance of supporting sustainable agricultural practices and smallholder farmers in Nigeria, which could foster development in the agricultural sector and enhance food security.
