Amersfoort, the Netherlands – Social impact investing cooperative Oikocredit has joined with co-investors Goodwell Investments and Global Partnerships/Eleos Social Venture Fund to provide US$ 8.5 million in equity to Zambian social enterprise Good Nature Agro.
Good Nature Agro supports 30,000 southern African smallholder farmers in growing drought-resistant, early-maturing legume seed varieties, including beans, cowpeas, soyabeans and groundnuts. Its agritech-based business model encompasses access to inputs, input finance, smart and reduced fertiliser use, climate-smart training, and a guaranteed market for high-value produce. It gives farmers a wealth of support to professionalise their businesses and establish a clear path out of poverty.
With this new investor capital, Good Nature Agro will continue to expand its ambitions and reach, grow farmers’ productivity and incomes, and improve their access to finance. The company has recently opened a new factory in Lusaka and aims to increase its client base to 50,000 smallholders by 2027.
Carl Jensen, CEO of Good Nature Agro, said: “Good Nature has broken the boundaries of most agribusinesses by engaging the full value chain – connecting growers, aggregators, processors and consumers – and delivering exceptional service through a hybrid tech and ‘boots on the ground’ model. We very much welcome Oikocredit as a new investor, endorsing our approach and potential, and are equally grateful for the partnership and trust of our existing investors Goodwell and Global Partnerships who participated in this round.”
Neo Maruatona Ratau, Investment Director at Goodwell Investments, said: “The remarkable growth Good Nature Agro has achieved since our initial investment has been impressive. We are delighted to collaborate with investors Oikocredit and Global Partnerships to support Good Nature’s upcoming expansion phase, fuelled by the convergence of digital and financial inclusion, along with strategic growth initiatives.”
Jim Villanueva, Managing Director of Eleos Social Venture Fund at Global Partnerships, said: “We first invested in Good Nature Agro during their seed round in 2018 and have witnessed their ability to adapt and scale their offering to enable farmers to increase and diversify their incomes in the face of climate change and gender inequality. We are proud of the results to date and of the opportunity to support Good Nature in this next chapter of growth and impact.”
Samuel Kibiri, Oikocredit’s Equity Officer for Africa, said: “Our new partnership with Good Nature Agro will enable Oikocredit to help more low-income African farmers improve their livelihoods through better yields and access to markets. We’re delighted to be co-investing with like-minded investors in an innovative business with a clear mission to lift farmers out of poverty and help them increase their resilience.”