Morocco in the top 5 African funding for agri-food startups | Atalayar

The report compiled by AgFunder in collaboration with the British Fund for International Investment and the Netherlands Development Bank, estimates that in terms of investment volumes, Morocco is among the top five countries on the continent. With estimated revenue of $15.4 million, it was up 3.2% from 2020. Over the past five years, investors have injected more than $1.1 billion into 119 innovative companies in the agri-food sector, of which $482 million has been invested in 2021 alone. These figures represent a 250% increase compared to 2020 and represent 1% of global investments while occupying 17% of the world’s population.

At the top of the ranking we find Egypt with an annual collection of 186 million dollars, while Nigeria and Kenya raised $147 million and $88.5 million respectively. They are followed by South Africa with 22.1 million. In terms of agreements with agribusinesses, Morocco also ranks fifth with seven agreements, far behind Nigeria (38), Egypt (36), Kenya (32) and South Africa with 14 agreements. .

AFP/FADEL SENÉ – A Moroccan woman sorts Damask rose buds (Rosa Damascena), which are used to make cosmetics

It comes at a time when Morocco has dropped three points on the food security index, from 57th to 113th place, and comes at a time of war in Ukraine, which has escalated conflicts over grain resources around the world. . The proliferation of Morocco in this sector is recognized in turn by a study by the National Institute of Agronomic Research (INRA), which specifies that Morocco is engaged in the production of cereals through nano-irrigation and minimizing water use to optimize its productivity.

Business Insider, an American digital newspaper specializing in economic and financial and business news, has compiled a list in which it ranks Morocco as the fifth best country in Africa for investment. Moreover, it is also the fifth largest economy on the continent with a GDP of $124 billion in 2021 which is expected to grow by 3.2% by the end of the year.

Countries like Saudi Arabia, since 2016 as part of “Vision 2030” project to widen and expand the Gulf economy, presented a proposal for agribusiness investment in the Moroccan country. According to official sources quoted by Asharq Al-Sawat, the Federation of Saudi Chambers has approved the investment project, which will affect ten other countries, related to the cultivation of fruits and vegetables in the country, as well as the specialization of the production of hybrid seeds.

REUTERS/ABDELHAK BALHAKI – Amazigh women sit together while crushing argan nuts to extract the kernels at the Taitmatine Women’s Agricultural Cooperative in Tiout, near Taroudant, Morocco

“The report highlights innovations in african agriculture to meet today’s challenges in food production and distribution while helping the sector respond and adapt to the impacts of the climate emergency,” says Chirantan Patnaik, Head of Venture Capital at British International Investment. According to the report, investor interest in Africa differs from global trends. .

Among the companies that have invested the most in the country, Midstream Technologies tops the list with $293 million between investment and movement of assets, representing 61% of the total. Then come Cloud Retail solutions, E-Grocery, retail technologies for physical stores and agri-food fintechs. In addition, Morocco has one of the best In-store Retail offers aimed at digitizing the existing offline market on the African continent, which represents approximately 80% of the market.

The venture capital market in agribusiness start-ups is growing and stronger year after year. In fact, this year is on track to break the 2021 record, with agribusiness startups raising around $400 million in the first half of 2022.

Michael J. Birnbaum