June 18, 2024

Good Nature Agro named one of Africa’s Fastest Growing Companies of 2024

3 min read

Good Nature Agro, the Zambian company helping smallholder farmers reach the middle-class, has been recognised by the Financial Times in the annual ranking of Africa’s Fastest Growing Companies of 2024, focused on identifying top performers in Africa’s private sector. This ranking places Good Nature Agro as number 44 on the list and the only Zambian company in the top 50.

The company has accomplished this feat through measured and consistent growth in its legume seed and commodity business lines, while increasing incomes for the more than 20 000 smallholder farmers with whom the company works.

2024 also marks the 10th anniversary of Good Nature Agro. Starting in 2014 with just 40 smallholder farmers in Kasenengwa District, Zambia, the founders have remained committed to the company’s mission since day one. Today, Good Nature Agro farmers are present in all provinces of Zambia and the company has expanded its offerings to Malawi. The company has two active processing plants in Lusaka and Chipata, Zambia; an active seed breeding programme and lab space; a proprietary digital platform for farmer and customer engagement; and more than 175 full-time employees. Good Nature Agro is also building a state-of-the-art export and processing facility in the Lusaka South Multi-Facility Zone.

Good Nature Agro co-founder and CEO Carl Jensen comments, “We are proud to be included on the list, and we intend to use this opportunity to highlight our work with smallholders and the strength and potential of the Zambian agricultural economy. Credit for the strides we have made over the last 10 years goes to the hard work of our farmers, team, investors and partners. Collectively, we are primed for a leap forward, and we will work tirelessly to move more smallholder farmers into the middle-class and emergent farmers toward generational wealth.”

On top of training, financing and production with Zambian farmers, Good Nature Agro has for the last three years been focusing on aggregating legume seed and commodity needs in the wider southern and Central African region. “Being a Zambian-born and based company has strategically placed us to fulfil grain needs from beyond Zambian borders. We are exporting high-value beans, soya beans and groundnuts to food processors in South Africa, Namibia, Zimbabwe and Botswana, and we continue to prospect both production and supply in the eastern African region. We are looking to onboard more customers and anyone looking for a reliable supply of legume seeds and commodities in and beyond the region. The Financial Times listing affirms our constant commitment to growth and service to our farmers and customers,” says Sunday Silungwe, co-founder and director of Communications.

Representing Zambia alongside Good Nature Agro on the list are Zamseed (#91) and Zambeef Products (#113). The list of Africa’s fastest growing companies – compiled by Financial Times in collaboration with Statista (a research and database company) – highlights advanced, modern and thriving businesses in Africa fuelling the global economy in the 21st century. The list showcases the growth of private companies across different sectors and offers a brief overview of the recent corporate landscape where technology, fintech and other businesses have had to adapt to a challenging environment. Good Nature Agro salutes all other companies represented as peers and examples of resilience and job creation.

Image credit: A. Wright

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