Transforming resources into prosperity in Africa
Annual ReviewAfrica is abundant in agricultural resources, but this wealth of assets is failing to become an economic and societal one. Changing this is the mission of Aspuna Group.
At the heart of its approach is empowering rural communities with the processing capabilities that allow them to effectively exploit their own agricultural wealth and resources.
Founded by Maria-Yassin Jah and Dr Luis Prazeres while at the Cambridge Social Venture Incubator, Aspuna Group has become a fast-growing social impact commodities asset management business, with a proven model for making trading fair.
Aspuna was one of the first recipients of a £20k Social Pathfinder from Cambridge Enterprise. The pathfinder helped to build Aspuna’s first factory, where cassava is transformed into starch of a quality unrivalled in Africa, with the ability to substitute expensive imports. Since being awarded our £50k Social pre-Seed funding in 2022, Aspuna continues to expand into new lines of business and open international market access for local farming communities.
"The support from Cambridge Enterprise has been extremely important to us; the team came in at a critical point for us and really enabled us to further professionalise our operations in Nigeria and Tanzania."
Maria-Yassin Jah continues, “It is clear they take a great interest in what we do, beyond commercial considerations.”
Empowering farmers with Aspuna’s cassava project in The Gambia
The Aspuna team, formed during the Executive MBA programme at Cambridge Judge Business School, brings diverse experience in commodities, banking, consulting, and energy research. Their first major project in The Gambia involves setting up a cassava processing plant in collaboration with local farmers, the government, and the UN. This initiative helps smallholder farmers organise into cooperatives, creating a stable market for cassava.
Aspuna’s cassava processing factory in The Gambia has significantly impacted local communities by creating jobs for unskilled workers and graduates, stabilising farmers’ incomes, and providing a reliable market for their produce. Additionally, Aspuna invests a substantial share of its profits into its charitable foundation, funding healthcare and education projects in the regions they operate. This approach ensures that their commercial activities directly contribute to the economic and social development of their host communities.
Aspuna Group plans to expand its portfolio beyond agriculture to include oil, gas, and metals across various regions. This strategic growth aims to replicate their successful model of creating economic and social value in new markets, further supporting disadvantaged communities globally.
Image credits: Aspuna
