He is one of the rightest young and upcoming businessmen operating in KwaZulu-Natal, Zamokuhle Thwala is the man who launched AgriKool.
As he says, he plans to make agriculture look cool, he launched his startup and is now experiencing growth as he reveals his plans to launch nationwide.
Founded by Thwala, AgriKool is an agricultural e-trading platform that links smallholding producers to buyers, facilitating the sale of products between retailers and farmers.
In 2021, the platform was among the four start-ups selected to receive R2 million in funding from incubation, acceleration, and investment vehicle AlphaCode.
Speaking for AlphaCode, Dominique Collett who is the head of AlphaCode and senior investment executive at Rand Merchant Investments, said the platform stood above the rest.
“AgriKool was one of 200 start-ups that applied for our programme and it stood out as one of the top five businesses in its cohort as it solves a particularly desperate pain- desperate pain-point for South Africans − the very high cost of food. The business continues to make steady progress and grow,” said Collett as per ITWeb.
https://twitter.com/AgriCool5/status/1284162066945904642
Through its trading platform, AgriKool ensures immediate payment and then facilitates the transportation of the produce to the buyer.
In addition, Thwala is confident that the local agritech industry is ripe for overhaul, as farmers take great risks in the agri value chain.
“Usually, farmers take their produce to municipal markets in warehouses where farmers and agents – buyers that sell to retailers at a profit margin – gather. Here agents bid to buy fresh produce,” he said.
“Farmers cannot predict how much they will make because agents determine the final price of goods.
“The warehouse takes a 5% commission on the value of goods sold, while the agent takes a 7.5% commission − whether the farmer makes a profit or loss. AgriKool cuts out the expenses of both the agent and the municipal market.”
The e-trading platform has also partnered with several companies such as large commercial buyers and suppliers, including Shoprite’s fresh produce arm Freshmark and Boxer stores.
“We have also on-boarded 21 large commercial and 100 small growers, replacing the Durban Fresh Produce Market as an intermediary between these large growers and retailers. Our revenue has grown by over 400% a month this year,” concluded Thwala.
Main image: Zamokuhle Thwala/SABFoundation
