At this year’s Startup Festival, held on October 30, 2025, at Bota House, Spring Valley, Nairobi, one of the most engaging conversations of the day explored the theme “The Last Mile Financing: Why Capital Hands Should Get Dirty.”
The session featured an insightful panel with Sieka Gatabaki (Program Director, Mercy Corps AgriFin), Chris Maranga (Regional Director, Acumen), and Claire Van Enk (Founder, Farm to Feed), who unpacked what it truly takes to move capital closer to those driving change on the ground.
The conversation highlighted a growing truth in Africa’s innovation ecosystem. Real change happens when boardroom decisions reflect the realities of farmers in the field.
Bridging the Gap Between Boardrooms and Farms
Speaking during the panel, Sieka Gatabaki underscored the disconnect between decision-makers and the smallholder farmers they aim to serve.
“Many times, we come in from different walks of life and fail to understand the specific challenges faced by the communities we’re designing for,” he noted. “We need better representation of smallholder farmers in boardrooms, or at the very least, a mindset that appreciates their realities and channels funding appropriately into the ecosystem.”
He emphasized that innovation should not only focus on technological advancement but also on empathy, understanding who the farmer is, what they experience daily, and how solutions can build trust.
“Smallholder farmers face multiple challenges daily, yet they’re constantly bombarded with new digital solutions. The key question we ask our AgriFinTech partners is simple: Can the farmer trust you? When developing solutions, have you considered the risks a farmer faces every day from climate shocks to debt burdens and are you ensuring that your product doesn’t worsen their vulnerability?”
Profitability Over Hype: A New Chapter for AgriTech Investment
On the topic of investment, Sieka called for a shift from chasing unicorn valuations to building profitable, sustainable businesses.
“We’ve learned that the unicorn story doesn’t always fit the African market. Profitability is what innovators should be aiming for,” he said. “Look out for our upcoming AgBase Report, developed in partnership with Briter, where we unpack emerging investment trends in AgTech.”
He encouraged innovators to explore debt instruments and alternative financing models, highlighting the need to deliver maximum impact at the lowest cost.
“We are reconfiguring our structures to localize solutions — ensuring that international organizations complement, rather than compete with, local innovators. The goal is to leverage global resources while empowering local institutions that can deliver more efficiently and affordably.”
He also pointed to the untapped potential of dormant capital within digital financial ecosystems such as M-PESA.
“Digitization has increased the velocity of transactions and opened doors for entrepreneurs. Now, we must find ways to aggregate dormant capital and channel it to benefit both the private sector and individual innovators.”
The Power of Partnerships
Partnerships have always been at the heart of AgriFin’s model. For the past 13 years, the program has worked alongside AgriFinTech players to nurture, de-risk, and scale innovations that support smallholder farmers.
“Partnerships often come with power dynamics, even around intellectual property,” Sieka remarked. “But we are seeing positive changes. Entrepreneur support organizations are increasingly walking with innovators , guiding them to form strategic partnerships and find sustainable exit pathways.”
He added that strategic exits up the value chain presents a unique opportunity for investors struggling to leave the market while ensuring that impact-driven innovations continue to grow.
Patience and Persistence in the African Startup Journey
Adding to the discussion, Chris Maranga from Acumen challenged the conventional belief that startups should succeed within five years.
“That’s not the African story,” he said. “In our context, building sustainable enterprises takes time at least ten years of learning, adapting, and persevering.”
The session made one thing clear about the future of agricultural innovation lies in closing the distance between the suits in the boardroom and the boots in the soil. For capital to truly create impact, it must get its hands dirty understanding, empowering, and investing in the people who feed the continent.
