Project area: E-learning
Project Name: Seeking to scale up the market reach of the online e-commerce platform
Company/Promoter description: EzyAgric has created an online marketplace for farmers and agribusinesses to maximize their profits by accessing better agricultural products and services. The platform provides a cost-effective and sustainable aggregation power that provides the needed products and services to unlock Africa’s endless farming possibilities. EzyAgric has partnered with 60 inputs manufacturers to provide the following products and services to over 300,000 farmers in Uganda: genuine seeds/seedlings; fertilizers, crop protection drugs, tools, equipment, farm management services, vet services, access to produce market services and financial services, etc.
Project Description: EzyAgric currently fully operates in Uganda with over 90% of the products sold only delivered to the Central region. The company plans to introduce options for delivery for the Western, Northern, and Eastern regions. 3 stores and delivery trucks in the new regions will be rented. Bulk stocking and international sourcing shall be implemented. The product lines shall be diversified to include high-margin products like tools, equipment, fertilizers, etc. Credit provision will be introduced as well as
partnerships in Kenya and Tanzania to enable entrance into their markets. The company does not have USD 3,000,000 that is required to expand the platform into those markets.
Project objectives: Entrance into those regional markets will result in gross margin rising from 1.3% to 7%.
Promoter contribution: Cash contributions for operations over 24 months; existing commercial relationships; technical expertise and a working online platform.
Partnership Request: The partner(s) will provide USD 1,000,000 in equity and debt cash investments needed to operate the company for 24 months. If acceptable to the partner, the possibility of exploring Kenya and Tanzania market tie-ups to start EzyAgric operations in Kenya and Tanzania through either an Agtech, eCommerce or Agro-Vet wholesaler in these markets is a plus.