Agri-tech startup Farmerline secures AfDB grant funding

Ghanaian agri-tech startup Farmerline is set to receive grant funding from the African Development Bank’s $23 million Agriculture Fast Track Fund.

Farmerline, which leverages innovative mobile technology to extend access to financial services, information, and high-quality input directly to farmers resulting in increased yields and incomes, is one of 17 agribusinesses to benefit from the AFDB fund.

Recipients will secure amounts of between US$100,000 and US$1.5 million, with Farmerline to use its part of the grant to research more innovative solutions for smallholder farmers. It is the latest grant funding taken in by the startup, which late last year secured US$692,000 from the Mastercard Foundation Fund for Rural Prosperity (FRP).

“It is excited to welcome the Africa Development Bank among other partners who support us to create lasting profit for smallholder farmers. This investment will scale the impact of our work with farmers in our operational areas and beyond,” said Farmerline co-founder and chief executive officer (CEO) Alloysius Attah.

The African Development Bank Group or Banque Africaine de Développement is a multilateral development finance institution. The AfDB was founded in 1964 and comprises three entities: The African Development Bank, the African Development Fund and the Nigeria Trust Fund. Wikipedia