One Acre Fund raises $1.4m with plans to support farmers in Africa
TLDR
- One Acre Fund secures $1.4 million debt fund from Impact Bridge Asset Management, a Spanish fund manager specializing in social impact investing.
- One Acre Fund, launched in 2006, focuses on training farmers in sustainable practices and offering services like credit and crop insurance.
- The fund aims to support social and environmental impact companies in underdeveloped countries through its IB Impact Direct Debt fund.
Kenya-based One Acre Fund has recently secured a $1.4 million debt fund from Impact Bridge Asset Management.
The Spanish fund manager specializes in social impact investing, financing social and environmental impact companies in underdeveloped countries through its IB Impact Direct Debt fund.
Launched in 2006, One Acre Fund has been training farmers in sustainable farming practices, such as micro-dosing fertilizers, providing advice on planting techniques, soil and crop health, and offering services like credit and crop insurance to protect farmers against drought and flood due to climate change.
Points clés à retenir
The social enterprise One Acre Fund aims to serve 10 million farmers by 2030, targeting 10% of the families worldwide living on less than $1 per person per day. Currently, it serves over 1 million farmers across nine African countries: Kenya, Uganda, Tanzania, Rwanda, Burundi, Ethiopia, Malawi, Nigeria, and Zambia. The IB Impact Direct Debt fund, which recently invested in One Acre Fund, has secured $16.3 million from various international investors, including pension funds and foundations. Around 80% of the fund is designated for investments in developing countries, with a particular focus on sub-Saharan Africa and Latin America.
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