ThriveAgric empowers over 500,000 smallholder Africa farmers to scale food production

ThriveAgric, a leading agricultural technology firm, presented its 2022 Impact Report today, repeating the business’s objective to establish the biggest network of profitable farmers and expedite an Africa that feeds itself. Among other accomplishments during the fiscal year under review, the Nigeria-based corporation expanded its operations into neighboring Ghana and Kenya in East Africa.

Among the highlights of ThriveAgric’s 2022 annual impact report are:

• Connecting with more than 514,000 smallholder farmers in over 2900 communities
• Pilot activities in five Ghanaian areas and six Kenyan counties
• Over $100 million in finance has been invested.
• 1.5 million metric tons of grain were produced.
• The number of women affected has increased by 153.3% year on year.
• Youth impact on communities has increased by 80%.

To achieve these historic milestones, the rapidly expanding agricultural enterprise relied on patented technologies and strategic collaborations with governments and global organizations like as the Ghana Commodity Exchange (GCX), Promasidor (Kenya) Limited, VISA, and OCP Africa.

“At ThriveAgric, we remain committed as an impact-driven and customer-focused company,” stated Samirah Bello, Partnership Lead. Through strategic partnerships, we have been able to accelerate impact and achieve major milestones while addressing constraints that smallholder farmers face on a daily basis. We are delighted to declare that we have established a tech-driven agriculture firm that will someday help feed both Africa and the rest of the globe.”

Speaking on the social impact, Uka Eje, CEO and co-founder of ThriveAgric said: “In addition to the social benefits such as reducing poverty and improving gender equality, smallholder farmers that work with ThriveAgric produce double the national average yields due to access to better quality seeds, fertilisers and equipment. At ThriveAgric, we will continue to adopt a multifaceted approach that includes collaboration between various stakeholders, increased investment, technology adoption, and sustainable agricultural practices. Our 2022 impact report is a testament that we are on the right track.” 

Access to funding remains one of the biggest challenges confronting smallholder farmers in Africa. According to the Africa Development Bank (AfDB), agri-SMEs in Africa are critically underfunded with an annual financing gap of approximately $100 billion.ThriveAgric is bridging this gap by providing input financing, providing data-led advisory to improve output, enhancing supply chain efficiency, and encouraging sustainable agricultural practices with the aim of building a network of profitable smallholder farmers and contributing to a food secure Africa.

Access to capital is one of the most difficult challenges affecting African smallholder farmers. According to the Africa Development Bank (AfDB), agri-SMEs in Africa are severely underfunded, with a $100 billion yearly financing need.ThriveAgric is bridging this gap by providing input financing, data-driven advisory to improve output, improving supply chain efficiency, and encouraging sustainable agricultural practices in order to build a network of profitable smallholder farmers and contribute to a food secure Africa.

Leaning on its Theory of Change (detailed in the impact report), ThriveAgric plans to give $500 million in financing to 10 million smallholder farmers in Nigeria, Ghana, and Kenya by 2027, and to more than double this figure by 2050. The company will also collaborate with organizations that use its Agricultural Operating Software (AOS) to give loans to farmers, and is presently onboarding partners. With the UN projecting that food security will reach a record 310 million Africans by 2030, ThriveAgric has planned expansions into Tanzania, Egypt, and Zambia to mitigate the potential impact.