African Farmers Get Boost from IFC, Soros Economic Development Fund and Esoko

IFC, a member of the World Bank Group, and the Soros Economic Development Fund have both invested $1.25 million of equity into Esoko, a Ghanaian technology firm. The investment in Esoko will give small holder African farmers and businesses timely crop information that can be shared via text messaging, enabling farmers to increase their incomes.

Esoko_s software takes advantage of rapidly growing mobile-phone usage in Africa.  The technology allows farmers affordable and timely access to market information that can help them negotiate better prices and improve the timing of getting their crops to market.

Ghanaian Technology Enterprise Boosts Africa in Prestigious Global Contest

After pitching their security innovations to a panel of judges before a live audience of investors, industry, government, VCs and peers, mPedigree and iWebGate have been awarded prize packages totalling $500,000. This followed a rigorous selection process lasting months, in which hundreds of hopeful innovative companies were narrowed down to 7 contestants in a climactic showdown at the University of London.