Kenya - Startup under 3 years old

Décrivez votre projet en quelques mots

Radava addresses fundamental agricultural market failures that threaten food security by facilitating the electronic trade of agricultural commodities

01.01 Décrivez votre startup en détail

We address fundamental agricultural market failures that threaten food security by facilitating the electronic trade of agricultural commodities. We aim to connect more than 250 million smallholder farmers in Sub-Saharan Africa to global commodity markets, open up finance for smallholder farmers, and provide a portfolio of commodities-backed products as an alternative asset class for investors. We envision a future where every smallholder farmer in sub-Saharan Africa has equal access to global markets, financial opportunities, and sustainable livelihoods. Our mission is to empower these farmers by revolutionizing agricultural trading, and providing secure storage, economic access, and market connections. Our comprehensive solution provides access to warehouses for storage, quality agro-inputs, collateral for loans, and a commodity exchange platform for selling produce. This end-to-end solution addresses multiple pain points for smallholder farmers.

01.02 Quel est le problème principal que vous essayez de résoudre ?

Due to market inefficiencies, specifically price fluctuations, over 250 million smallholder farmers in Sub-Saharan Africa fail to market their produce and manage price risk successfully. As a result, their working capital keeps shrinking, threating their livelihoods and food security. During harvest season, the market is saturated with agricultural commodities which causes prices to drop. The smallholder farmers usually rush to the market to sell their yields at this time, incurring significant loss on the investment they made on their farm during the planting, weeding, and harvesting season.

01.03 Dites-nous quels sont les principaux avantages et/ou bénéfices de l'utilisation du produit/service fourni par votre startup (au moins 3).

Radava innovative solution that directly addresses the problem of market inefficiencies and price fluctuations faced by over 250 million smallholder farmers in sub-Saharan Africa. By providing smallholder farmers with access to well-equipped warehouses, Radava helps them safely store their produce until market conditions improve, thereby avoiding post-harvest losses. Furthermore, Radava provides smallholder farmers with the ability to use their stored produce as collateral for accessing loans. This helps them to secure immediate finance when they need it, without having to sell their produce at a loss in order to obtain cash. This not only helps to protect their working capital but also promotes financial inclusion for smallholder farmers who often lack access to traditional financial services. Lastly, Radava helps smallholder farmers to sell their produce to a good market through its commodity exchange platform. Radava's comprehensive solution helps farmers manage price risk

01.04 Veuillez décrire précisément à qui s'adresse le produit/service de votre startup. Quels sont les bénéficiaires visés ?

We decided to launch Radava because we recognized the urgent need to address the challenges faced by smallholder farmers in sub-Saharan Africa. Our co-founder, Isaac, is someone who has worked in the agricultural sector for several years and he hails from a family of farmers. He has seen firsthand how market inefficiencies and price fluctuations can have a devastating impact on the livelihoods and food security of smallholder farmers. We were particularly struck by the fact that over 250 million smallholder farmers in sub-Saharan Africa struggle to market their produce and manage price risk effectively, leading to a decline in their working capital and threatening their livelihoods and food security. We felt that something needed to be done to help these farmers secure better prices for their produce and protect their working capital.

01.05 Quand votre entreprise a-t-elle été créée ?

17/12/2021

01.06 Vendez-vous déjà votre produit/service ?

Oui

01.07 Combien y a-t-il de propriétaires de votre entreprise en plus de vous ?

3

01.08 Parmi les autres propriétaires, combien sont des femmes ?

1

01.09 Veuillez décrire le profil des autres propriétaires de votre startup (compétences, expérience, etc.).

Josephine Otieno holds a Bachelors Degree in Telecommunication and information Engineering from JKUAT University. She serves as our CTO. Isaac is an ambitious and dedicated person with technical and analytical skills in financial technology. He serves as our CFO. He has acquired the necessary skills in incorporating technology in the African financial markets. Ivan holds a masters degree in project planning and management from the University of Nairobi . He serves as our COO

01.10 Si vous avez un site web, une page sur les médias sociaux (Facebook, Instagram, Linkedin...) ou une application, veuillez fournir le(s) lien(s) ici :

https://rx.radava.co/

01.11 Quel est le secteur d'activité qui décrit le mieux votre entreprise ?

Services financiers

02.01.01 Ma startup contribue à l'objectif 'Pas de pauvreté'

7 - tout à fait d'accord

02.01.02 Justification de la contribution de ma startup

Many smallholder farmers lack access to storage and transportation facilities which can to manage price risk effectively. Without these facilities, they are forced to sell their produce immediately after harvest, when prices are low in order to avoid spoilage or damage to their crops. This can leave them vulnerable to fluctuations in market prices, and can lead to a decline in their working capital and livelhood

02.02.01 Ma startup contribue à l'objectif 'Faim Zéro'

7 - tout à fait d'accord

02.02.02 Justification de la contribution de ma startup

We enable farmers to conduct agriculture in sustainable by enabling them to sell their produce to the right market, at the right time, earning them the right income

02.03.01 Ma startup contribue à l'objectif 'Bonne Santé et Bien Être'

7 - tout à fait d'accord

02.03.02 Justification de la contribution de ma startup

We ensure food crops are handle and stored in a secure manner ensuring that the population access quality, healthy and nutritious food

02.04.01 Ma startup contribue à l'objectif 'Éducation de Qualité'

5

02.04.02 Justification de la contribution de ma startup

We successfully conducted the "Enhancing Financial Literacy Among Smallholder in Western Kenya to Build their Resilience to Climate Change" successfully. The project equipped smallholder farmers with the necessary financial skills to help solve the problem of limited financial literacy and access to credit facilities for smallholder farmers in Western Kenya which exacerbates their vulnerability to climate change.

02.05.01 Ma startup contribue à l'objectif 'Égalité entre les Sexes'

7 - tout à fait d'accord

02.05.02 Justification de la contribution de ma startup

We contribute to gender equality through: 1. Inclusive hiring: We ensure gender balance in recruitment 2. Mentorship & capacity building: We offer training and mentorship to youth & women smallholder farmers 3. Flexible work arrangements: Radava supports flexible work schedules 4. Supportive workplace culture: We champion for a workplace the is fosters respect, diversity, and inclusivity. 5. Community engagement: We closely work with youth and women groups in rural areas supporting gender equality initiatives and extend their impact to the society level

02.06.01 Ma startup contribue à l'objectif 'Eau Propre et Assainissement'

4

02.06.02 Justification de la contribution de ma startup

02.07.01 Ma startup contribue à l'objectif 'Énergie Propre et Abordable'

4

02.07.02 Justification de la contribution de ma startup

02.08.01 Ma startup contribue à l'objectif 'Travail Décent et Croissance Économique'

7 - tout à fait d'accord

02.08.02 Justification de la contribution de ma startup

We contribute to Decent Work and Economic Growth by fostering an inclusive, fair, and dynamic work environment. We prioritize creating quality jobs with fair wages, safe working conditions, and opportunities for career advancement. By implementing equal employment practices and promoting diversity, we ensure a balanced workforce. Additionally, we invest in employee training and development, fostering innovation and productivity. Our commitment to sustainable practices and ethical business standards drives economic growth, benefiting both our employees and the wider community

02.09.01 Ma startup contribue à l'objectif 'Industrie, Innovation et Infrastructure'

7 - tout à fait d'accord

02.09.02 Justification de la contribution de ma startup

We provide farmers with access to standard and certified warehouses linked to the commodity exchange. When farmers bring their yields their issued with a blockchain-backed electronic receipt that serves as collateral and is tradable on our exchange platform

02.10.01 Ma startup contribue à l'objectif 'Réduction des Inégalités'

7 - tout à fait d'accord

02.10.02 Justification de la contribution de ma startup

We contribute to reducing inequality by empowering economically marginalized smallholder farmers. We ensure fair trade practices, guaranteeing that farmers receive equitable prices for their produce, which boosts their incomes. More importantly, through capacity-building initiatives, we provide training and resources to enhance farmers' skills and productivity with sustainable farming techniques. We also facilitate market access by integrating smallholder into the supply chain that connects them to global marketplace, earning them better returns.

02.11.01 Ma startup contribue à l'objectif 'Villes et Communautés Durables'

7 - tout à fait d'accord

02.11.02 Justification de la contribution de ma startup

Radava Mercantile contributes to the Sustainable Cities and Communities goal through its warehouse receipt system and agro-commodity exchange, which operate in rural areas. By providing secure storage facilities, the warehouse receipt system allows farmers to store their produce safely, reducing post-harvest losses and ensuring food security. The agro-commodity exchange enables farmers to trade their products at fair market prices, improving their incomes and economic stability. These systems promote efficient supply chains, reduce waste, and enhance the economic resilience of rural communities. Additionally, Radava Mercantile invests in local infrastructure and engages with community members to ensure sustainable and inclusive development, fostering vibrant and sustainable rural communities

02.12.01 Ma startup contribue à l'objectif 'Consommation et Production Responsables'

7 - tout à fait d'accord

02.12.02 Justification de la contribution de ma startup

We implement sustainable practices throughout our operations. We prioritize the use of eco-friendly materials and processes, reducing waste and minimizing our environmental footprint. Our products are designed for durability and recyclability, promoting a circular economy. We also educate consumers on sustainable farming and consumption practices. By collaborating with smallholder farmers committed to sustainable practices, and continuously improving our supply chain, we conduct our business in manner that benefits both the environment and society.

02.13.01 Ma startup contribue à l'objectif 'Lutte contre les Changements Climatiques'

7 - tout à fait d'accord

02.13.02 Justification de la contribution de ma startup

Radava Mercantile contributes to the Climate Action goal by implementing sustainable agricultural practices and reducing its carbon footprint. Through its warehouse receipt system and agro-commodity exchange, the company promotes efficient storage and transportation, minimizing waste and emissions. Radava Mercantile supports smallholder farmers in adopting climate-resilient farming techniques, such as crop rotation and organic farming, which enhance soil health and reduce greenhouse gas emissions. Additionally, the company invests in renewable energy sources for its operations and engages in reforestation projects, actively combating climate change and its impacts

02.14.01 Ma startup contribue à l'objectif 'Vie Sous-Marine'

4

02.14.02 Justification de la contribution de ma startup

02.15.01 Ma startup contribue à l'objectif 'Vie Terrestre'

7 - tout à fait d'accord

02.15.02 Justification de la contribution de ma startup

Radava Mercantile contributes to the goal of protecting terrestrial ecosystems and biodiversity through several key initiatives. The company promotes sustainable land use practices among smallholder farmers, emphasizing soil conservation and biodiversity-friendly farming techniques. By integrating these practices into its agricultural operations and agro-commodity exchange, Radava Mercantile helps preserve and restore ecosystems. The company also supports reforestation efforts and participates in community-led conservation projects to combat desertification and land degradation. Through these efforts, Radava Mercantile aims to contribute to the sustainable management of forests, protect terrestrial ecosystems, and halt biodiversity loss

02.16.01 Ma startup contribue à l'objectif 'Paix, Justice et Institutions Efficaces'

4

02.16.02 Justification de la contribution de ma startup

02.17.01 Ma startup contribue à l'objectif 'Parteneriats pour la Réalisation des Objectifs'

7 - tout à fait d'accord

02.17.02 Justification de la contribution de ma startup

We have partnered with several local and global organizations to achieve our collective effort. Specifically, we work with farmers cooperatives, women and youth groups, the Warehouse Receipt System Council, International Finance Corporation, USAID, Young African Leadership Initiative (YALI), Allan n Gill Gray Philanthopies (AGGP), and the European Commission to improve the livelihood of smallholder farmers in Sub-Saharan Africa

06.01 Un grand nombre de clients utilisent déjà un produit/service très similaire au nôtre.

4

06.02 Notre produit/service représente un type de produit/service entièrement nouveau

4

06.03 Notre produit/service pourrait être décrit comme une nouvelle technologie

7 - Tout à fait d'accord

06.04 Notre produit/service est une amélioration d'un produit ou d'un service existant

4

06.05 Notre produit/service pourrait être décrit comme une extension d'une gamme de produits ou de services

3

06.06 Notre produit/service répond à une demande ou à un besoin qui n'a pas été satisfait par d'autres produits/services.

4

06.07 Notre produit/service est une nouvelle version d'un ancien produit/service

3

06.08 Justification

06.09 Analyse compétitive

consistently

11.05 Menez-vous des actions au sein de votre communauté pour promouvoir le rôle des femmes entrepreneurs ?

Yes, Radava actively promotes the role of female entrepreneurs within our community by: 1. Mentorship 2. Workshops & training 3. Advocacy and Awarenes