Local agriculture startup gets US$100 000 in funding

   
1 comment

FarmHut is a local agriculture startup that creates connections between small scale farmers in Zimbabwe and markets. The startup offers a range of services which include helping smallholder farmers increase productivity and profitability by allowing them to place their products on the market before harvest is complete. This means that farmers are not wasting their produce by carting it to market day in and day out.

It is because of this and other services like offering funding and a marketplace that FarmHut has recieved US$100 000 from the Hult Prize Foundation.

Hult Prize Foundation

For more than a decade the Hult Prize Foundation has been transforming how the youth envision their own possibilities. The organisation seeks to create opportunities for young people through its one million dollar startup prize.

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The Hult Prize Foundation has to date trained and graduated more than two million alumni across 121 countries. FarmHut can now name itself among those who are set to benefit from the foundation.

“We were selected onto the accelerator where we spent around eight months receiving training and refining our business models. After the process we were shortlisted to 33 entities, and from the number, only 11 got the seed capital”

Ryan Katayi, co-founder of FarmHut (via Sunday Mail)

Ryan Katayi went on to say that the funds received from the Hult Foundation will go to increasing the number of inclusive systems for small scale farmers so they can have access to markets with ease.

“This investment is not just for FarmHut. It goes to all the farmers toiling everyday to put a meal on the table. It sets the stage for us to take our revolutionary solution to the rest of the world,”

Ryan Katayi, co-founder of FarmHut (via Sunday Mail)


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Comments 1

Stanley Maingi
4 weeks ago

We are Kianda Self Help Group. We request for a Ksh 2 million loan to refund in 24 months.

FRUIT FARMING
We are a self help Group of 25 members based in Ruiru.
Our desire is to help each other grow economically. We want to grow apples in a rental piece of land. We shall rent it for 5 years. In that piece of land we desire to grow 1000 trees.
Following is the Budget for the Project:
1 Rent @ Ksh 2000 a month
= Ksh 24,000.
2 Seedlings@Ksh 1000
= Ksh 1,000,000.
3 One year labour
=Ksh 300, 000
4 Fertilizer (Organic manures)
= Ksh 200,000
5 Watering estimate
= Ksh 300,000
6 10% Contingency
= Ksh 182, 400
TOTAL = KSH 2,006,400

EXPECTATIONS
We expect 50 fruits a plant the first year. If we sold each fruit for Ksh 20, we will get Ksh 1,000, 000
The consequent years will give at least 500 fruits per plant each. This will give us Ksh 10, 000,000.

By you lending us Ksh 2 million, we will refund it in 24 months time including the accrued interest there of.
Our KIANDA SELF HELP GROUP account number in Kingdom SACCO Bank is 001402000235. The Bank paybill number is 521000.

Yours faithfully
S.M.Maingi for KSHG

You can contact our leader @ 0721580428 or 0782131677

Your email address will not be published.

 


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