(Bloomberg) – The Development Fund in South Africa is supported by Pepsico Inc. ABSA Ltd. The local market for mobile phones for farmers who enable them to sell their products in addition to logistical experience, technical expertise and financing.
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The KHULA PTY LTD. 20,000 users, starting from young people to commercial farmers, targeting 200 million Rand ($ 10.7 million) in financing by mid -year, the founder, CEO and CEO Caridas Chenchulo said in an interview. He said that he had collected 126 million Rand so far in a financing tour led by square investments.
Qenchulo said that Pepsico-which supported the Kgdiso Development Supply Supply Supply Supply Supply is the largest buyer on a closed trading platform that allows previously accredited farmers to sell buyers from supermarkets and others.
In an attempt to correct the inequality resulting from the apartheid system, the South African government requires multinational companies operating in the country to establish local funds to support local initiatives instead of selling stocks to South Africa in the so -called equivalence in stocks.
He said that all the company’s shareholders are previous seed financing tours-including South Africa, a specialized company at AECI LTD. And the founders of Khoula-participated in her program in series A, and she will search for strategic investors to close the tour.
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“As part of the Funds of Series A, we will expand the scope of South Africa operations and search for two pilots in East Africa, and possibly Latin America’s potential,” said Tshintsholo, without providing details about the current size of the company. He said his evaluation increased 10 times since the seed financing round in 2023.
Africa is home to the fastest population in the world and has about 60 % of its employees working in agriculture. The continent also has about three fifths of the land that is not cultivated to the Earth, yet it still imports a lot of its food, according to the African Development Bank.
To change this, Africa needs investors and technology companies to help experience and fill the gap left by the absence of infrastructure in many parts of the continent. AFDB estimates that the current lack of financing in the agricultural industry in Africa reaches $ 65 billion per year.
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