African startups are finding a new path in the food and agriculture sector, pushing to solve frictions that have accelerated the continent’s hunger crisis. This means creating tech-based mechanisms to grow plants, fight drought, preserve food products and mitigate waste.

For the market viability, investors are showing increasing interest in the African food industry, pumping millions of dollars into food-focused startups.

South African based Inseco announced that it has raised $5.3 million in a seed funding round led by Futuregrowth Asset Management with participation from E4E Africa, and Oak Drive Ventures.

“The investment into Inseco fits well within our responsible investment philosophy. In comparison to traditional protein sources, insect protein has an inherently lower environmental impact, as the process directly reduces food waste, involves minimal greenhouse gas emissions, limited water usage and makes zero use of arable lands. In addition to the strong ESG case, insect protein has a superior nutritional content, which results in higher feed conversion rates compared to traditional protein sources,” Amrish Narrandes, Head of Unlisted Equity at Futuregrowth said.

Inseco operates the biggest insect protein plant in the southern hemisphere. It is a 10 000 square metre (108 000 square foot) plant based in Cape Town that converts the larvae, known as maggots, of the black soldier fly into 100 tons of insect oil and meal a month. Insect products are high in nutrients and, because the process sees the maggots fed with waste, is seen as a climate-friendly way of feeding farmed fish, poultry and pets.

Fly eggs are produced at Inseco’s plant and then transported to where the waste is produced, either as a byproduct of a food-manufacturing process or so-called canteen waste, from restaurants.

“We are finding a new home for food products that would have been otherwise destined for landfill,” Simon Hazell, Inseco’s chief executive officer, said in an interview.

The meal is used to feed poultry and fish as a supplement to fishmeal, made from small fish netted in the sea, cutting down on its use, Hazell said. The use of insect protein boosts growth and it also has immune system boosting properties, Hazell said.

Inseco intends to increase its manufacturing capacity and fund ongoing research and development with this new investment. It also has plans to expand into the rest of Africa, Europe and the US.

According to the United Nations Food and Agriculture Organisation, up to 35% of the food produced globally is wasted. This places a significant cost on economies and environments. In the South African context, the waste that ends up in landfills results in the production of carbon dioxide and methane gas. In addition, the global population is projected to grow substantially by 2050 and current food production systems will be unable to meet the growing demand.

Simon Hazell, Inseco’s CEO, identified insect farming as the perfect solution to these challenges and co-founded the company in 2017. “Now, more than ever, we’re seeing the importance of sustainability – and the responsibility that we have, to be a more resource-efficient society for future generations. At Inseco, we believe that insects will play an important role in this transition, becoming a widely available source of sustainable protein, and an important form of nutrition to help meet the food demands of the future.”

The Ogun State Governor, Mr. Dapo Abiodun has declared support for the presidential ambition of Nigeria’s Vice President (VP), Prof. Yemi Osinbajo.

A statement by the governor’s Chief Press Secretary, Mr. Kunle Somorin read that Mr. Abiodun and the delegates from Ogun State would support Osinbajo to enable him “continue with some of the laudable projects of the President Muhammadu Buhari-led administration.”

Mr. Abiodun’s declaration for Osinbajo has dealt an apparent blow to Bola Tinubu, another APC presidential aspirant, who has been banking on the governor’s support in the South-West region of the country.

Prof. Osinbajo arrived in Ogun State, which happens to be his home state, on 26th April 2022 in continuation of his nationwide consultation with key personalities and party delegates ahead of next month’s presidential primaries of the ruling All Progressives Congress (APC).

During a meeting with Mr. Abiodun at the Presidential Lodge, Ibara, Abeokuta, the Governor said the VP was “eminently qualified” to lead the country.

He said, “The Vice President’s presence here is homecoming. We are pleased with his decision to run for the Office of the President. He is competent and committed to lead the country in a higher capacity.

“Your steadfastness, integrity and character are all well known. You are serving this country and the president meritoriously for the last seven years as the Vice President.

“We have no doubt that you will do well as the president and we will support you,” he added.

The governor, who extolled the VP’s academic exploits, recalled how he stood behind his gubernatorial election and described him as a man who is interested in fairness, justice, equity and the rule of law.

While speaking, Prof. Osinbajo stated he was not in the state to campaign, but to inform his people of his intention to run for President, saying he had consulted widely across all sections of the society, including with President Buhari, before throwing his hat into the ring.

Recounting his contributions to the present Federal Government, Osinbajo disclosed he was actively involved in the judiciary reforms of the country and its repositioning to work optimally, and ensured judges were adequately remunerated

He said working with President Buhari had exposed him to governance at the highest level and placed him in a position to tackle serious issues concerning economy, and security, among others.

“The Vice President position is an opportunity to serve and I have served with utmost loyalty. I put everything into my work. I am a candidate who will hit the ground running when I am elected.

“I have the requisite knowledge to do the job and build on what others have put in place. My presidency will bring peace, unity and development to the country.”

“After all, I have learnt if called upon to serve the nation, should I say no? I have decided that I will run for the office. I have sworn an oath to the Federal Republic of Nigeria. It is an oath to our people, our children and the future of Nigeria. I owe nobody else any allegiance outside the oath.” He frantically added.

The paramount Ruler of Remoland, Babatunde Ajayi, in his remarks, opined that the VP was competent with the required qualification to lead the nation, observing his performance as the Acting President when Buhari was unavoidably away was there for all to see.

Speaking on the ambition of the VP, another Royal Father, the Alake of Egbaland, Adedotun Gbadebo attested to the competence of Prof. Osinbajo.

He said, “The Vice President has paid his dues and is eminently qualified to succeed as President. I want to pray that you will come back to this Palace as a President and Nigeria will gain tremendously under your watch.”

Prof. Osinbajo’s seeming unquenchable boldness to continue with his ambition to contest for the Presidency come 2023, is really amazing and entertaining, to say the least.

It’s noteworthy that the political story of Prof. Osinbajo won’t be complete without mentioning Bola Tinubu, who is equally aspiring to succeed President Buhari in 2023 under the aegis of the APC. In fact, his political odyssey commenced owing to the efforts of Tinubu.

Gov. Abiodun, on his part, can’t complete writing his political profile without mentioning Tinubu in most of the lines. This is a fact and indisputable.

The rare boldness, as indicated above, though not unusual in the game of politics, is the prime reason most Nigerians are interested in Osinbajo’s aspiration. They actually want to watch him contest against his so-called godfather.

According to most citizens of Nigeria, Tinubu had been parading himself as a demigod, hence needs to be told that the country doesn’t belong to anyone, no matter how highly placed.