The Challenge
A report from the United Nations says the world’s food supply must double by 2050 to sustain the Earth’s growing population. Africa is home to uncultivated land, resources, and a growing population where farming is the primary source of food and income for many families. Farming also provides up to 60 percent of jobs in Africa. Supporting Africa’s agriculture sector will help to meet the growing global demand for food. However, Africa’s farmers face challenges accessing the electricity and irrigation systems they need to produce a high yield.
U.S.-owned and Kenya-based SunCulture solves these problems by selling solar-powered generators and water pumps to farmers. The company uses a “pay-as-you-grow” model that allows farmers to pay for the equipment in installments as they boost crop yields and income. As SunCulture assisted farmers, the company sought support to expand its footprint in Kenya and across the African continent.
Our Solution & Impact:
Thanks to Prosper Africa transaction advisory support funded by the U.S. Agency for International Development (USAID), SunCulture secured $14 million in investment. This will allow the company to expand its services within Kenya and in Côte D’lvoire, Ethiopia, Senegal, Togo, Uganda, and Zambia.
