Aruwa Capital Management, a gender lens fund investing in Nigeria and Ghana, has announced an additional investment into AgroEknor International, a fast-growing hibiscus flower exporter and wellness brand. This strategic investment comes as AgroEknor achieves significant milestones, demonstrating rapid growth through diversification and backward integration.
One notable achievement of AgroEknor is the Farmers Education and Empowerment Project (FEEP), which has successfully registered nearly 3,000 smallholder farmers, with an additional 11,000 on the waitlist, the majority of whom are women.
This project has not only empowered farmers but has also doubled the yield per hectare, providing AgroEknor with a sourcing advantage. This aligns perfectly with the United Nations Sustainable Development Goals (SDGs) and Aruwa Capital’s commitment to sustainable job creation and women’s empowerment.
In addition to FEEP, AgroEknor has launched YieldPro, an innovative, technology-driven operating system designed to increase farm yields sustainably for smallholder farmers. YieldPro offers a cloud-based directory for identity management and farm monitoring, ensuring end-to-end traceability of agricultural processes from cultivation to harvest. This technology not only guarantees transparency and accountability but also encourages farmers to adopt sustainable practices, minimizing soil degradation and enhancing overall productivity.
Timi Oke, CEO of AgroEknor, expressed gratitude for the transformational partnership with Aruwa Capital. The completion of AgroEknor’s processing chamber has opened doors to new markets, enabling the company to command premium prices for its products. The success of the FEEP program continues to empower farmers, and the launch of YieldPro is set to revolutionize farming practices for AgroEknor and its third-party clients.
Furthermore, partnerships for hibiscus concentrate distribution highlight the company’s commitment to strategic diversification and the delivery of high-quality wellness products globally. The additional investment from Aruwa Capital will support AgroEknor in meeting increasing demand, enhancing infrastructure, and securing the supply chain for further growth and impact.
Adesuwa Okunbo Rhodes, Founder & Managing Partner of Aruwa Capital, expressed enthusiasm for supporting AgroEknor’s remarkable progress. The innovative YieldPro system demonstrates the company’s potential for sustainable growth and significant impact.
This investment will enable AgroEknor to scale further, improve operational infrastructure, expand farmer empowerment initiatives, and diversify revenue streams. It reflects Aruwa Capital’s commitment to gender-lens investing and sustainable economic development.
AgroEknor, founded in 2013 and based in Kano State, Northern Nigeria, specializes in sourcing, processing, and exporting hibiscus flowers and other healthy cash crops. The company capitalizes on Nigeria’s competitive advantage in these products. With the growing global demand for hibiscus and health-based products, AgroEknor is well-positioned to cater to this market.
The additional investment from Aruwa Capital Management will undoubtedly bolster AgroEknor’s progress and contribute to its continued success. The company’s commitment to empowering farmers, promoting sustainability, and delivering high-quality products aligns with the broader goals of economic development and gender equality. As AgroEknor expands its operations and diversifies its revenue streams, it will continue to make a significant impact on the agricultural sector and the communities it serves.
