The Venture Codex

Participated · Seed · Jun 2022

Afrikamart operates a digital marketplace and distribution platform for fresh produce, serving retailers and restaurant customers. Founded in 2018 by Albert and Mignane Diouf, the startup aggregates supply from roughly 2,000 farmers and delivers up to 10 tons of fresh food daily to about 500 regular customers across four Senegalese cities. The company aims to expand its network to 5,000 farmers and 2,000 shops by the end of the year. Its stated objectives include increasing efficiency, improving market transparency and consumer confidence, expanding the variety and quality of locally grown produce, eliminating intermediaries’ late payments, and reducing waste. Afrikamart plans to scale purchases from smallholder farmers nationwide and improve logistics and last-mile delivery of 14 fresh vegetable varieties to street vendors, small retailers, restaurants, and hotels in Dakar and Mbour. The recent funding will be used to support those operational and supply-chain expansions.