Sucafina innovates in East Africa to help coffee farmers increase their income from more than just coffee.
In its continuous effort to protect farmers from the impact of volatile prices, Sucafina announced earlier this year US$5 million in seed funding and working capital over the next 3 years to invest in its new “Farmer Hub” initiative – alternative projects on agency banking, grain and banana production, as well as circular economy models for supplying goods and services to farmers living in proximity to the Group’s assets in East Africa.
The “Farmer Hub” initiative was launched by Sucafina in December 2018, with a challenge to come up with innovative solutions that create more value for the company’s supply chain and its long-standing relationship with farmers.
“Our two most valuable assets don’t show up on the balance sheet: our staff and our network of coffee farmers. This project is about unlocking the creativity of our staff to create year-round, whole-farm, maybe even whole-life relationships with farmers. This intense focus on the needs of coffee farmers reveals new opportunities for both farmers and our business.” Said Nicolas A. Tamari, the CEO of Sucafina.
With the Farmer Hub, Sucafina re-invents its role of coffee merchant to focus on serving the broader needs of farmers and capture business opportunities that go beyond coffee.
The Farmer Hub harnesses the new possibilities of digitalization in the rural environment. By looking beyond coffee, Sucafina has identified opportunities to source other crops from farmers and get them better prices, provide new digital banking services that pave the way for credit, and provide inputs and other goods tailored to farmer needs.
Check out FMO's blog post in this regard.
Download our case study below to learn more about the Farmer Hub initiative.