By Cynthia Ezekwe
ThriveAgric, an agricultural technology company, providing access to finance, premium markets, and data-driven advisory for smallholder farmers, has empowered over 500,000 farmers in 2022 to accelerate food production and boost food security in Africa.
ThriveAgric, disclosed this in its 2022 impact report reiterating the company’s mission to build the largest network of profitable farmers and accelerate food production in Africa.
Citing a report by the United Nations Food and Agriculture Organization (UNFAO), the company noted that a record 282 million people, which is about 20 percent of the current population in Africa, faced food insecurity in 2022, and this figure could potentially rise to 310 million by 2030.
The impending food crisis is as a result of low productivity by smallholder farmers due to external and internal shocks such as climate change, Covid-19, international influences, internal conflicts, financial crisis, low investments in the agricultural sector by African governments, and global price increases.
“Furthermore, international influences and internal conflicts, such as the war in Ukraine, are exacerbating drought related emergencies, high costs, and limited access to inputs in several African nations, leading to the sector’s destabilisation, which then led to extreme vulnerability to a long lasting food crisis, and surge on global food prices,’’ the report noted.
In light of the above, the Nigeria-founded company broke down the barriers and scaled its operations into neighbouring Ghana, and Kenya in East Africa amongst other feats, which includes connecting with 514,000+ smallholder farmers in more than 2900 communities; piloting operations in five regions of Ghana and six counties in Kenya; investing over $100 million in financing; production of 1.5 million+ metric tonnes of grains; recording of 153.3 per cent year-on-year increase in the number of women impacted; and an 80 per cent increase in youth impact in communities.
Meanwhile, as an avenue to accomplish these groundbreaking milestones, the fast-growing agricultural company leveraged its proprietary technology and key partnerships with governments and global institutions including the Ghana Commodity Exchange (GCX), Promasidor (Kenya) Limited, VISA, and OCP Africa.
Commenting on the achievements, Samirah Bello, partnership lead at ThriveAgric said: “At ThriveAgric, we remain committed as an impact-driven and customer-focused company. Through our strategic partnerships, we have been able to accelerate impact and reach meaningful milestones while tackling barriers confronting smallholder farmers in their day-to-day business.’’
“This report is an expansion of our 2017–2021 impact report, and we are proud to say that we have built a tech-driven agricultural enterprise that will eventually help feed both Africa, and the rest of the world,’’ Bello added.
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.
Eje noted that the company’s 2022 impact report is a testament that it is on the right track, adding that ThriveAgric will continue to adopt a multifaceted approach that includes collaboration between various stakeholders, increased investment, technology adoption, and sustainable agricultural practices.
Additionally, ThriveAgric aims to provide $500 million in credit to 10 million smallholder farmers across Nigeria, Ghana, and Kenya in 2027, and to double this outcome by 2050. The company will also be working with organisations who leverage its Agricultural operating Software (AOS) to provide access to loans for their farmers, and is currently onboarding partners. With food security projected by the UN to rise to a record 310 million Africans by 2030, ThriveAgric has planned expansions into Tanzania, Egypt and Zambia to alleviate the potential impact.
