Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana, is pleased to announce an additional investment into AgroEknor International (“AgroEknor” or the “Company”), a fast-growing hibiscus flower exporter and wellness brand.
Since Aruwa’s last investment in December 2022, AgroEknor has achieved significant milestones, achieving rapid growth through strategic diversification and backward integration. AgroEknor’s Farmers Education and Empowerment Project (FEEP) has registered close to 3,000 smallholder farmers, with 11,000 more on the waitlist, most of whom are women. The FEEP programme has doubled the yield per hectare for these farmers, providing AgroEknor with a competitive sourcing advantage which aligns perfectly with multiple UN SDG goals and Aruwa’s mandate of sustainable job creation and women’s empowerment.
AgroEknor has also launched YieldPro, an innovative, technology-driven operating system designed to sustainably increase farm yields for smallholder farmers. YieldPro provides a cloud-based directory for identity management and farm monitoring, offering end-to-end traceability for agricultural processes from cultivation to harvest. This technology not only ensures transparency and accountability but also helps farmers adopt sustainable practices, thereby minimizing soil degradation and enhancing overall productivity.
Timi Oke, CEO of AgroEknor, said: “Our partnership with Aruwa has been transformational & pivotal in our growth journey as our first institutional equity investors. The completion of our processing chamber has opened new markets for us, enabling us to command premium prices. The success of our FEEP programme continues to empower farmers, and the launch of YieldPro is set to revolutionize our farming practices for Agroeknor and third party clients. Our new partnerships for hibiscus concentrate distribution highlight our strategic diversification and commitment to delivering high-quality wellness products globally. This additional investment will allow us to meet increasing demand, enhance our infrastructure, and secure our supply chain, positioning us for further growth and impact. We are grateful to the Aruwa Capital for their continued support.”
Adesuwa Okunbo Rhodes, Founder & Managing Partner of Aruwa Capital, added: “We are thrilled to continue to support AgroEknor’s remarkable progress. The Company’s achievements, including the innovative YieldPro system,demonstrate its capacity for sustainable growth and significant impact and we look forward to their continued success and impact. This investment will enable the Company to scale further, improve its operational infrastructure, expand its farmer empowerment initiatives and continue to diversify its revenue streams, reflecting our commitment to gender-lens investing and sustainable economic development. We look forward to their continued success and impact”.
About AgroEknor International
AgroEknor sources, processes, and exports hibiscus flowers and other healthy cash crops for which Nigeria has a competitive advantage. Founded in 2013 and based in Kano State, Northern Nigeria, the Company is well-positioned to cater to the growing global demand for hibiscus and other health-based products.
For more information visit https://agroeknor.com/
