#BusinessNews: Agritech startup Thrive Agric targets 50,000 farmers with new project
Building on its work to boost food security in Nigeria through technology-driven agricultural services, Thrive Agric has launched an ambitious 1-year project to support 50,000 smallholder farmers growing rice, maize, and soybean.
As part of its commitment to strengthening agricultural value chains in the country, including for these three staple crops, the USAID-funded West Africa Trade & Investment Hub (Trade Hub) is backing this effort with a $1.75 million co-investment grant.
A natural partner for the Trade Hub, Thrive Agric has already helped over 140,000 farmers in Nigeria increase their capacities to meet supply, quality, and food safety standards required by domestic and export markets.
The company has accomplished this through bundling a variety of products and services normally out of reach of smallholder farmers, distributing them in rural areas through its networks, and partnering with agriculture organizations to expand upon these efforts.
The company is also big on leveraging technology to support and create better livelihoods for smallholder farmers across Nigeria and Africa at large. Through its Tradr mobile app, for example, Thrive Agric gives farmers direct access to seed and other input providers, farm machinery service providers, and off-takers within their locations. Likewise, its Tmoni mobile app provides customers with a digital wallet on their phone, which they can use to send, receive, save, and borrow money.
“Existing efforts to support smallholder farmers tend to follow traditional approaches to boost their agricultural productivity, such as commercial firms integrating them into value chains through modern inputs,” said Ayodeji Arikawe, Co-Founder and Chief Technology Officer of Thrive Agric. “We know that most smallholder farmers, particularly women and youth, require more nuanced support to facilitate their participation in markets and, ultimately, increase food security and incomes at the household and national levels.”
As part of the project, Thrive Agric will use its proven, forward-thinking strategies and technology to assist targeted farmers in Kaduna, Kebbi, and Kano States. All project beneficiaries will be either women or youth.
The 50,000 smallholders tapped to join the project will receive agronomy advisory services, pre-and post-harvest storage and logistics support, links to credit and agriculture insurance products, and access to the company’s current and future mobile apps. As part of its partnership with the Trade Hub, Thrive Agric has committed to raising at least $10 million to fund this support.
