Despite the Upper East Region having one of the smallest populations in Ghana, the market for agro inputs has skyrocketed. Introduction of government projects and increased development efforts to spur agriculture throughout the region has begun to take effect. Programs to coordinate agribusiness activities, such as the NRGP and District Value Chain Committees (DVCC), have created a viable supply and marketing chain for the region’s agro inputs. Demand for these products and other farming services in the Upper East Region is fast growing, providing the opportunity for agro input and agricultural services firms to increase sales.
Since 1994, Simple Prince Enterprise has grown to become the largest supplier of agricultural inputs in the Upper East Region of Ghana. With a network of 22 smaller input dealers across the region, Simple Prince distributes high-quality seeds (including those for maize and rice), fertilizers, agro-chemicals, and farm tools from large suppliers to individual farmers. As the market continues to grow, Simple Prince is seeking funding to be able to buy larger volumes of inputs to supply more customers, including breaking into other market segments such as institutional buyers. The company also wants to expand its product base to provide mechanization services for customers in the region.
Simple Prince has experienced rapid growth in recent years, increasing revenues from $450,000 in 2013 to over $720,000 in 2014; the company has positioned itself to continue on this path. It has differentiated itself from regional competitors through bulk purchasing from suppliers with whom the company has longstanding relationships; more important, Simple Prince understands the agricultural needs of the region. The company organizes training for its clients in proper use of inputs, adoption of modern farming techniques, and good agricultural practices. With government support in the region, Simple Prince will continue to be a major force, and the investment is expected to grow the business by 15% in the next 3 years.
Simple Prince is seeking investment of $150,000 to purchase equipment to improve its services to customers: A cargo truck for distribution of inputs, a tractor trailer and planter for providing mechanization services to farmers for fees, and a working capital line of credit to stock inputs. Simple Prince is open to debt or equity financing for capital expenditures.
Simple Prince may require a BAS provider to help find an interested financial institution.
As the company expands, there will be a need to review and update its environmental impact status.
- USAID-ADVANCE II
- TechnoServe (John Deere project)
- SNV Netherlands Development Organization
Prince Yao Koveh, Managing Director, +233 (0) 244 162 228; email@example.com