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How this agritech company is transforming the way fresh produce is traded across the SADC region
This agritech company has redesigned the traditional understanding of your typical fresh produce market place by bringing it to a place bigger, more accessible and much more advanced - the internet. Nile connects farmers to buyers across the SADC region in an innovative and inclusive way. Joining CNBC Africa for more is Eugene Roodt, Co-Founder of Nile.ag.
Fri, 20 May 2022 15:50:04 GMT
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AI Generated Summary
- Nile.ag connects farmers to buyers in the SADC region through an e-commerce platform, improving market access and transparency.
- The company raised 83 million RAM in a funding round led by Naspers and other prominent investors, signaling strong support for Nile's innovative business model.
- Nile's expansion plans include entering East Africa and exploring opportunities in emerging markets, with a focus on enhancing market dynamics and value chains.
Nile.ag, an agritech company, is transforming the way fresh produce is traded across the SADC region. By leveraging technology, Nile connects farmers to buyers in a more accessible and advanced manner. Through an e-commerce platform, Nile provides farmers with the tools to sell their products directly to businesses across the continent, eliminating inefficiencies and improving transparency in the market. In a recent interview with CNBC Africa, Eugene Roodt, the Co-Founder of Nile.ag, shared insights into the company's progress and future ambitions. Naspers, a leading equity firm, has spearheaded Nile's recent funding round, raising a total of 83 million RAM from investors. This investment includes contributions from Naspers, platform investment partners, Base Capital, and Robber Capital, showcasing strong investor confidence in Nile's unique selling proposition. Nile's USP lies in its ability to bridge the gap between farmers and buyers, offering a seamless platform for fresh produce trade. With over 30,000 tons of produce already marketed to buyers in 35 cities across South Africa, Botswana, Namibia, Eswatini, and Mozambique, Nile has demonstrated significant growth. The platform currently hosts more than 100 active farmers, with plans for further expansion. Nile's target market comprises a diverse range of buyers, including large African companies, small retailers, and wholesalers. By facilitating direct sales from farms to end consumers or value-adding entities, Nile streamlines the supply chain and optimizes market dynamics. Looking ahead, Nile aims to extend its operations to East Africa, targeting countries like Kenya, Uganda, and Tanzania. This expansion will enable cross-border trade and enhance market access for both producers and buyers. While focusing on consolidating its core business, Nile also envisions long-term opportunities in regions like Asia. Eugene Roodt's background in investment banking, coupled with his co-founders' expertise in commercial farming and e-commerce, has been instrumental in shaping Nile's innovative approach. By integrating technology with industry insights, Nile is revolutionizing fresh produce trade, driving efficiency and sustainability in the agricultural sector. The company's success story exemplifies the convergence of diverse backgrounds and skill sets in creating impactful ventures. As Nile continues to grow and evolve, its commitment to transforming the agricultural landscape remains unwavering.
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