The Problem
Africa is home to 1.4 billion people—nearly 14% of the world’s population—but it holds only 2% of global wealth. Despite this, the continent remains a net importer of food even though there is no shortage of food grown. Why? Because much of it is lost before reaching the market.
Roughly 70–85% of African adults are smallholder farmers, most farming just one acre, primarily for subsistence. Yet nearly all of them remain poor, locked out of modern markets.
Out of the 30 African startups backed by Fledge by 2019, only 2–3 secured follow-on investment, while most American and European peers did. The capital simply isn’t flowing where it’s needed most.
The Solution
Africa Eats is a response to the chronic underfunding of African food and agriculture entrepreneurs.
Founded in 2020 during the COVID-19 lockdown, they invest in and scale African SMEs buying from smallholder farmers. The model is simple:
Buy food from farmers,
Reduce post-harvest loss through better logistics and light processing,
Sell to African urban markets,
Reinvest earnings to grow.
Africa Eats takes inspiration from Berkshire Hathaway—owning businesses long-term, supporting them operationally, and avoiding pressure for quick exits. This structure keeps value on the continent and builds strong, lasting enterprises.
The Outcomes
From $600,000 in portfolio revenue in 2014 to $44 million in 2024
An estimated $30 million in income paid to smallholder farmers in 2024
Active support model including annual founder summits, peer learning, and mentorship
Public listing on the Mauritius Stock Exchange in 2024, providing liquidity for investors without harming the businesses
Demonstrated that African SMEs can grow 50% year over year—profitable, scalable, and high-impact
The Opportunity
UI Charitable has done the work to make Africa Eats accessible for donor-advised fund (DAF) holders. For the first time, you can now invest in this high-performing African holding company directly through your DAF, with shares traded on the Mauritius Stock Exchange.
The structure is flexible—you can get in or out at any time. Minimum investment is just $5,000, and the capital stays active in a model built to reduce poverty, strengthen food systems, and create enduring economic value.
This is a rare chance to align philanthropic capital with scalable impact and long-term financial performance—backed by a team committed to staying in for the next 100 years. If you are interested in facilitating an investment in Africa Eats, please contact us at [email protected]
Learn more about Luni and Africa Eats on our recent podcast