Goodwell Investments, an impact investing firm fostering inclusive growth in emerging markets announces their investment in SOUK Farms, a leading grower and exporter of fresh horticultural produce from Rwanda
Goodwell has provided funding through uMunthu II, the impact investor's US$164.12mn fund focused on scalable, early-growth stage businesses in Africa. The investment provides SOUK Farms with a solid foundation for scaling their sustainable agricultural business in Rwanda, enabling them to create resilient systems and value chains that benefit local farmers and the surrounding community.
“The opportunities to create sustainable agricultural practices and improve existing ones in Rwanda are great. Our partnership with Goodwell will drive a huge impact not only for the growth of SOUK Farms but also for the farmers and the communities we work as we continue to offer solutions that improve incomes and create employment while also implementing education and outreach programs for youth and women,” said Seun Rasheed, founder and CEO at SOUK Farms.
Being a key player in Rwanda's socio economic transformation, SOUK Farms has managed to create a positive impact in the local agricultural supply chain. Working closely with more than 1,200 farmers across Rwanda, they have greatly improved livelihoods, enabling farmers to earn 300% more than they did prior to being outgrowers for SOUK Farms. Currently, 71% of the company's workforce are women, aligning with the Rwandan government’s national agriculture policy which promotes gender equality at all levels of the agricultural value chain. Their impact efforts and solid business model are an ideal fit for Goodwell's agricultural investment strategy, which strives to improve value chains, reduce post-harvest losses, and create better livelihoods for smallholder farmers.
This investment comes at a crucial time, enabling SOUK Farms to build on its success, scale operations, and increase the productivity of Rwandan farmers, while also reinforcing Goodwell's commitment to supporting companies that improve livelihoods and deliver affordable, accessible, high-quality goods and services to underserved populations.
For more information visit: www.goodwell.nl and http://www.souk-ig.com/
