Agro Business

ThriveAgric kicks-off distribution of agri inputs to 100,000 smallholder farmers in Nigeria

ThriveAgric, a Nigerian agri-tech startup, has commenced its dry season farming cycle by distributing agricultural input to support over 100,000 smallholder farmers in northern Nigeria. The aim is to facilitate the production of more than 300,000MT of grains. Established in 2017 and fully operational since 2018, ThriveAgric empowers farmers in Nigeria by enabling them to sell their products to FMCGs and food processors. The company utilizes its proprietary technology, including an agricultural operating system, to access finance, enhance productivity, and boost sales, thereby promoting food security.

The technology employed by ThriveAgric operates offline and utilizes USSD to communicate with farmers. Additionally, it powers Android apps used by field agents to digitally gather creditworthy farmers and relevant farm data. In March 2022, ThriveAgric secured a debt funding round of US$56.4 million from local commercial banks and institutional investors. Through its latest program, the company will provide farmers with irrigation facilities, drought-resistant input, access to technology, storage, and premium markets. These resources will help optimize output during this farming cycle.

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