Nigerian-born entrepreneur Seun Rasheed has built an agricultural export business in Rwanda supplying avocados, chillies and beans to supermarkets in Europe and the Middle East.
Rasheed, founder and chief executive of SOUK Farms, was working for Shell in Qatar when a holiday to Rwanda changed his career plans. During the visit, he noticed a substantial price difference between passion fruit sold locally and the same fruit in European markets, prompting him to explore the potential of agricultural exports.
Seven years later, SOUK Farms has established an export operation focused on connecting Rwandan-grown produce with international buyers.
From Price Opportunity to Export Business
Rasheed identified the price gap as a potential business opportunity, but building an export operation required more than finding overseas buyers. Agricultural exporters must coordinate production, maintain consistent quality, meet import requirements and ensure fresh produce reaches its destination in good condition.
These demands are particularly important when supplying supermarkets, which typically require reliable volumes and compliance with specific product standards.
SOUK Farms’ experience also raises practical questions for aspiring agricultural entrepreneurs, including how long an export business takes to become profitable and how producers can manage the challenges of farming and international trade.
In an interview with How we made it in Africa, Rasheed discusses why he chose Rwanda over Nigeria, the realities of establishing an agricultural export business and the lessons he has learned while building the company.
His journey provides an example of how identifying differences between local production costs and international market prices can lead to a business supplying African produce to overseas retailers.