Food Security Rwanda Project #59148

Invest in small-scale farms in sub-Saharan Africa

by One Acre Fund

Invest in small-scale farms in sub-Saharan Africa

Project Report | Jul 29, 2024
2024 Q1 Report

By One Acre Fund | One Acre Fund

A few highlights from this quarter:

Core program growth: After facing headwinds from regulatory changes and high inflation last year, we anticipate returning to a strong trajectory in our direct full-service program, adding ~130,000 net new farm families this year. Core program growth will be driven primarily by increased site density in our poorest markets of Rwanda, Burundi, and Malawi.
Unfavorable exchange rate movements: Several countries we operate in may face currency devaluation or depreciation again this year. To confront this challenge and continue to meet our farmer scale targets, we are implementing a number of proactive measures, including establishing a currency loss buffer in our 2024 budget, utilizing local currency for purchases when possible, and developing innovative financial tools such as first-loss funds to further safeguard against currency losses.
One Acre Fund’s agroforestry work in Ethiopia: As the focus of this quarter's management discussion, we share an update on our Ethiopia program, where we expect ongoing conflict in the Amhara region to reduce the scale of our agroforestry-focused program this year. Our committed team has pivoted to a largely remote delivery model for the time being and we are hopeful to resume growth next year in this important market that has served as our 'innovation hub' for species diversification, decentralized production methods, and more. This quarter's report also profiles progress in our multi-year digital transformation efforts; to deepen impact, improve efficiency, and better reach new farmer segments.

Attachments:

2024_Q1_One_Acre_Fund_Performance_Report_.pdf (PDF)

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