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Releaf Secures $3.3M Pre-series A Funding, Unveils New Technologies

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Releaf, a technology company that makes it easier for consumer goods manufacturers in Africa to access high-quality ingredients for their factories, has raised $3.3 million in an oversubscribed Pre-Series A funding round.

The new funding will support the launch of two new technologies: Kraken II – a portable version of its award-winning palm nut de-sheller and SITE – a geospatial mapping application that informs the most profitable positioning of food processing assets.

The funding round was led by Samurai Incubate Africa, who re-invested after leading Releaf’s seed round, with participation from Consonance Investment Managers. Stephen Pagliuca (Chairman of Bain Capital) and Jeff Ubben (Board member at World Wildlife Fund and Founder of Inclusive Capital Partners) also invested.

SITE was developed in collaboration with Stanford University’s Professor David Lobell, a MacArthur “Genius” Fellow and Director of the Center on Food Security and the Environment, whose team led the refinement of the age identification process for oil palm trees in Nigeria.

This analysis provided foundational yield data for the first layer of SITE. The application leverages cutting-edge geospatial mapping tools to determine how much oil palm is planted in an area and their annual yields, alongside Releaf’s proprietary data on soil type, rainfall, farmer productivity and 3rd-party data from organizations like the International Institute of Tropical Agriculture (IITA), Foundation for Partnership Initiatives in the Niger Delta (PIND) and Rocky Mountain Institute (RMI) to deliver a dynamic view of farming activity.

Releaf will use this dynamic data set to train Reinforcement Learning Models in SITE that identify the most optimal positioning of supply chain infrastructure for consumer goods manufacturers, creating an effective link with Africa’s decentralized farming system.

Kraken II is a portable, lower-cost version of Releaf’s Kraken – West Africa’s most advanced palm nut de-sheller. It is just as efficient as its static predecessor, costs half as much and can attain 3x profitability because it can be transported to high density farming areas, eliminating more than 80 percent of margin-eroding logistics costs.

The combination of Kraken II’s portability and SITE’s placement and route planning capabilities enables Releaf to target the best opportunities across Nigeria’s oil palm belt rather than being limited to sourcing crops within 100 kilometers of a fixed processing site like existing food processors.

According to Uzoma Ayogu, CTO and co-founder of Releaf, “SITE and Kraken II are the next steps in our plan to fundamentally transform the efficiency of agricultural supply chains in Africa and we are excited to have partnered with an exceptional cohort of investors and collaborators to roll out these technologies.

To make food supply chains profitable, we must maximize extraction yields with leading processing technology and minimize logistics costs by bringing processing capacity closer to farmers.

Before Releaf, stakeholders had to choose between one or the other – large factories had great technology but were far away, leaving most farmers with rudimentary technology to process their crops. We’re now able to maximize both.”

Africa will represent 40% of the human population by the end of the 21st century and the fast-moving consumer goods market will emerge as its first globally relevant industrial sector.

Releaf’s technology is designed to accelerate this industrialization while ensuring inclusive success for the planet, farmers, food factories, and consumers in one of the greatest economic opportunities globally.

Since launching in 2021, Releaf has used its supply chain technology to process more than 10 million kilograms of palm nuts and grown its monthly revenue 7X year on year.

The company has also secured more than $100 million in supply contracts from leading consumer goods manufacturers, including Presco, PZ Cussons, and more. The company’s valuation has tripled since its seed round a year ago.

Rena Yoneyama, Managing Partner at Samurai Incubate Africa, contributed, “Releaf’s success with its pilot Kraken validates its thesis, and we are excited to continue supporting their ambitious vision to create efficient supply chains within Africa’s agricultural market.

They have added key members to their management team and continue to impress us with their rapid commercial growth and technological development. We look forward to more of the same success as the team rolls out Kraken II and SITE.”

Professor David Lobell from Stanford University said, “I enjoyed working with Releaf and using our tree height algorithm to establish the correlation between oil palm age and height to help farmers to get a better understanding of their future yields and make better data-driven decisions on sustainable replanting.

“There is a great opportunity to unlock Africa’s unique agricultural potential by leveraging remote sensing solutions, and I believe this partnership will be a catalyst.”


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UK Appoints Peter Vowles as British High Commissioner to Nigeria

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The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.

Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.

He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.

Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.

Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”


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Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

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World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.

The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.

According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.

The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.

He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.

The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.

It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.

The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.

Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.

It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.

The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.


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PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

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As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.

These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”

PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.

Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.

“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”

The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.

For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.


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