Nigerian agrictech startup invests $100m in African smallholder farmers

Bisola David
Bisola David
Nigerian agrictech startup invests $100m in African smallholder farmers

Nigerian agrictech startup, ThriveAgric has claimed to have invested more than $100 million to help 514,000 smallholder farmers increase food production in Africa.

According to Nairametrics, this was stated by the corporation in its 2022 Impact Report.

The agricultural company claimed that in order to achieve these ground-breaking achievements, it made use of its in-house technologies and strategic alliances with governments and international organizations, such as the Ghana Commodity Exchange, Promasidor (Kenya) Limited, VISA, and OCP Africa.

The company claimed it scaled its operations into nearby Ghana and Kenya in East Africa, among other countries, in 2022 while reiterating its mission to create the greatest network of productive farmers and expedite an Africa that feeds itself. The same year, ThriveAgric started up pilot projects in 5 regions of Ghana and 6 counties in Kenya.

The empowered farmers generated almost 1.5 million metric tonnes of grains, according to the company’s impact report. The number of women it impacted increased by 153.3% year over year, according to the business.

Partnership Lead at ThriveAgric, Samirah Bello, emphasized that the organization has been able to achieve these feats through strategic partnerships.

“At ThriveAgric, we are dedicated to becoming an impact-driven, client-focused business. Through our strategic relationships, we have been able to overcome obstacles that smallholder farmers face on a daily basis while accelerating effect and reaching significant milestones. We are delighted to state that we have created a tech-driven agriculture firm that will eventually help feed both Africa and the Middle East.

The CEO and co-founder of ThriveAgric, Uka Eje, commented on the social impact, stating that: “Smallholder farmers who work with ThriveAgric produce twice as much as the national average yields because they have access to higher-quality seeds, fertilizers, and equipment, in addition to the social benefits like lowering poverty and promoting gender equality.

“At ThriveAgric, we’ll keep using a multidimensional strategy that involves increasing investment, cooperation among many stakeholders, the use of technology, and sustainable agriculture practices. Our impact report for 2022 is proof that we are moving in the right direction.”

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