Aluko & Oyebode (the “Firm”) is pleased to have advised Acumen Fund Inc. (“Acumen”), a non-profit impact investment fund focused on investing in social enterprises servicing low-income individuals and communities, on its strategic investment into CropSafe Agro Services Limited (“CropSafe”), a high-impact agricultural social enterprise whose innovative grain-drying method is supporting smallholder farmers across Nigeria by minimizing post-harvest losses and providing access to local and international markets for their produce.
The Acumen/Cropsafe transaction is notably the first investment under the Challenge Fund for Youth Employment, a six-year program funded by the Netherlands Ministry of Foreign Affairs. It is a significant step towards the development and transformation of the Nigerian agricultural sector to a more responsible, collaborative, and quality focused sector. Investing in post-harvest infrastructure and ensuring market access for farmers has the potential to bring about a transformative impact for thousands of families. This investment underscores Acumen’s mission of solving poverty problems and its strategy of investing in businesses that create access to the elemental needs of smallholders.
The Firm’s transaction team was led by its Partner and Head of the Business Advisory Team, Oghogho Makinde, and included Managing Associate – Olagoke Kuye, Senior Associate – Michael Iwuoha and Associate – Funmilola Aliu.