Read more about Agriculture
Founders and Vision
Thrive Agric was co-founded in 2017 by Uka Eje and Ayodeji Arikawe, two visionaries passionate about leveraging technology to solve agricultural problems. The duo combined their expertise to create a platform that bridges the gap between farmers and the necessary resources for success. Their vision was clear: to build an Africa that feeds itself and the world. With a key focus on impact, scale, and technology, Thrive Agric is on a mission to build the largest network of profitable farmers across Africa, ensuring there’s always food for all. According to the company, they believe that with their available resources, “Africa can supply enough food to ensure no one ever goes to sleep hungry.” And to achieve this, they empower smallholder farmers, who they believe are the key to unlocking Africa’s food production potential, to access finance, and improve productivity & sales.Innovative Offerings
Thrive Agric offers a suite of services designed to address the various pain points in the agricultural value chain. Key offerings include:- Crowdfunding Platform: Thrive Agric connects farmers with investors through its innovative crowdfunding platform. Investors can fund specific farming projects, receiving returns on their investments while empowering farmers with the capital needed for inputs, equipment, and other essential resources. However, during the COVID-19 pandemic, issues over the repayment of returns on investments forced the company to pivot its crowdfunding approach from retail investors to institutional investors. Since then, Tech Cabal reports that the startup has sealed investment partnerships with several commercial banks, the Central Bank of Nigeria, USAID, and the World Food Program (WFP)
- Input Provision: The Company supplies high-quality seeds, fertilizers, and other inputs to farmers, ensuring they have the necessary materials to achieve optimal yields. According to information obtained from their website, they have successfully produced and traded more than 1.5 million grains.
- Technical Support and Training: Thrive Agric provides ongoing training and technical support, helping farmers adopt best practices and modern farming techniques. This support includes everything from planting to harvesting, ensuring farmers maximize their productivity.
- Market Access: Post-harvest, Thrive Agric facilitates access to markets, ensuring farmers can sell their produce at fair prices. This end-to-end support helps farmers achieve better returns and financial stability.
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Structure and Operations
Thrive Agric operates through a well-structured model that ensures transparency and efficiency. The company partners with local cooperatives and agricultural experts to identify and recruit farmers into the program. Each farming project is carefully planned and monitored, with data-driven insights guiding decision-making. Regular field visits and the use of technology for real-time monitoring ensure that both farmers and investors are kept informed about the progress of their investments. The onboarding of farmers to the platform follows a simple process of collection of key data of the farmers, grouping them into clusters per community. A leader is appointed for each cluster to help manage the affairs of the group. After the onboarding, other essential activities follow such as farm mapping, input distribution, field monitoring, harvesting, and then inventory management.Success Stories and Impact
Aside from the many investments and partnerships that Thrive Agric has enjoyed over the years, in 2022, it won the Visa Everywhere Initiative for the Central Europe, Middle East, and Africa (CEMEA) region out of the over 1,300 applicants who entered into the competition from the region. In 2023, the startup began expanding its operations to Kenya. Earlier this month, it announced through its website that it has entered into a partnership with VISA to support this expansion efforts into Kenya. Through the partnership, they will set up hubs to support 10,000 farmers in five different counties of Kenya.Register to attend the CN Business Mixer
Thrive Agric’s impact on the Nigerian agricultural sector is profound, with numerous success stories testifying to its effectiveness. One such story is that of John, a maize farmer in Kaduna. Before joining Thrive Agric, John struggled with low yields and limited market access. Through Thrive Agric’s support, he received high-quality inputs and expert guidance. His yields increased by 50%, and he gained access to larger markets, significantly improving his income and livelihood. Another success story is that of Amina, a rice farmer in Kebbi. With the financial backing and training from Thrive Agric, Amina was able to implement better farming practices, resulting in a bumper harvest. The increased yield not only improved her family’s financial situation but also allowed her to reinvest in her farm, ensuring long-term sustainability. Similarly, Ngozi, a cassava farmer, remarked, “Before Thrive Agric, I was constantly worried about funding and market access. Now, with their help, I have peace of mind knowing that I have the support I need to succeed.”
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