One Acre Fund Secures $1.4 Million Investment for Smallholder Farmers

One Acre Fund, a Kenyan-based social enterprise aiding one million smallholder farmers across East Africa, has successfully raised $1.4 million. This investment was secured from Impact Bridge Asset Management, a Spanish fund manager established in 2018 that specializes in social impact investing through its IB Impact Direct Debt, a fund valued at $54.4 million (€50 million). The fund is dedicated to financing social and environmental impact companies in developing countries.

In May 2024, One Acre Fund also received $10 million from Proparco to bolster food security in Africa.

Founded in Kenya in 2006, One Acre Fund aims to provide smallholder farmers with essential resources such as naturally-produced hybrid seeds, quality fertilizers, and training on best farming practices. The initiative seeks to significantly reduce poverty, ensure food security for families and communities, improve nutrition, and boost farmers' incomes.

The social enterprise focuses on rural family farms, helping them build community and environmental resilience through climate-smart farming practices and initiatives like a tree-planting program, which aims to plant one billion trees over the next 15 years. The organization also leverages mobile technology to enable farmers to repay loans, sign up for products and services, and access training.

Source: Osamu Ekhator / TechPoint Africa