We are a team of young professionals with a desire for high impact in the African food sector.
With members of the founding team being from Nigeria, Zimbabwe and the United Kingdom, we represent a diverse group of individuals seeking to bring simplified food prices to everyone. We could afford to be ignorant about food prices some 10, 15 and even 20 years ago but not anymore. With global inflation at all time high in some countries and the constant fear of a major food crisis looming, it is of necessity that this challenge must be tackled. Africa has hundreds of food markets and we want to bring the prices down to everyone.
An ambitious project? Probably..
Let’s go through a few statistics
*The African food market is estimated to be over $300b with potential to triple these numbers by the next ten years. (innovation and agri-startups must drive this)
*278 million Africans (20% of Africa) and counting suffer from chronic hunger (in comparison is about 83% of US population).
*Africa has about 50-60% of the arable land in the world.
*Africa has the lowest yield per hectare of major foods like rice, maize, soya beans etc. and the difference in yield can reach about 60-80% less than global average.
*Africa experiences some of the highest post harvest losses worldwide of about 20-30% in cereal and can reach to about 40-60% with perishables like tomatoes, oranges etc.
All these statistics and more look bleak but it all points to the fact that a real investment vehicle must begin to drive agri-businesses in Africa hence the need of a “Food Savings Bank”.
If you see the projects lined up, then getting the prices at everyone’s fingertips would probably seem like the easiest of them all.
We are out to solve the challenges that others run away from so we implore you to watch this space for updates and keep rooting for “The Barn Of Egypt”.
Do have a lovely time!