Babban Gona Secures $7.5 Million to Empower Nigerian Farmers and Fortify Food Security
Babban Gona, a pioneering Nigerian agri-tech platform, has secured a significant $7.5 million investment to bolster food security and enhance climate resilience among smallholder farmers in Northern Nigeria. This crucial funding will empower the company to scale its operations and provide much-needed support to a vital segment of the agricultural sector.
Investment for Sustainable Agriculture
The debt investment, provided by British International Investment (BII), the UK’s development finance institution and impact investor, will enable Babban Gona to offer comprehensive assistance to farmers. This includes access to high-quality agricultural inputs, crucial financial credit, training programs focused on climate-smart agricultural practices, and support throughout the post-harvest process, encompassing storage solutions and access to broader markets. Kola Masha, Managing Director of Babban Gona, expressed enthusiasm about the partnership with BII, highlighting the company’s ambition to significantly amplify its impact and become the “Earth’s highest-impact business.” The investment is particularly timely, given that Northern Nigeria accounts for a substantial 50-60% of the nation’s maize production, yet smallholder farmers in the region consistently face obstacles that hinder their productivity and limit their income potential. These challenges often include cultivating small land parcels and struggling with limited access to finance, quality resources, and effective agronomic training.
This investment marks a significant step towards strengthening Nigeria’s agricultural sector, promoting sustainable farming practices, and improving the livelihoods of smallholder farmers, ultimately contributing to enhanced food security across the nation.
Keywords
Related Keywords: Babban Gona, Nigeria agriculture, food security, agricultural investment, agritech Nigeria, TechMoran, Nigerian farmers, smallholder farmers, agricultural financing, impact investing
