Global Courant
Leading agricultural technology company, ThriveAgrichas Today has released its 2022 Impact Report, reiterating the company’s mission to build the largest network of profitable farmers and accelerate an Africa that feeds itself. In the year under review, the company, which was founded in Nigeria, expanded its activities to include neighboring countries Ghana and Kenya in East Africa.
The main highlights of ThriveAgric’s annual impact report for 2022 are:
Connecting to more than 514,000 smallholder farmers in more than 2,900 communities
Pilot operations in 5 regions of Ghana and 6 provinces in Kenya
Invested over $100 million in financing
Produced over 1.5 million tons of grains
153.3% year-on-year increase in the number of women affected
80% increase in youth impact in communities
To achieve these groundbreaking milestones, the fast-growing agricultural company leveraged its proprietary technology and key partnerships with governments and international institutions, including the Ghana Commodity Exchange (GCX), Promasidor (Kenya) Limited, VISA and OCP Africa.
Samirah Bello, Partnership Lead at ThriveAgric said: “At ThriveAgric, we remain committed to being an impact-driven and customer-centric company. Through our strategic partnerships, we have been able to accelerate impact and achieve meaningful milestones, while removing the barriers small farmers face in their day-to-day operations. This report is an extension of our 2017-2021 impact report and we are proud to say that we have built a technology-driven farm that will ultimately help feed both Africa and the rest of the world.”
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 working with ThriveAgric produce twice the national average yield thanks to access to seeds, better quality fertilizers and equipment. At ThriveAgric, we will continue to take a multi-stakeholder approach that includes multi-stakeholder collaboration, increased investment, technology adoption and sustainable farming practices. Our 2022 impact report is proof that we are on the right track.”
Access to finance remains one of the biggest challenges facing smallholder farmers in Africa. According to the Africa Development Bank (AfDB), agri-SMEs in Africa are severely underfunded with an annual funding gap of approximately $100 billion.ThriveAgric bridges this gap by providing input finance, providing data-driven advice to improve output, improving supply chain efficiency and encouraging sustainable farming practices to build a network of profitable smallholder farmers and contribute to a food-secure Africa.
Leaning on his Theory of Change (highlighted in the impact report), ThriveAgric aims to provide $500 million in credit to 10 million smallholder farmers in Nigeria, Ghana and Kenya by 2027, and to double this result by 2050. The company will also work with organizations using its Agricultural Operating Software (AOS) to give their farmers access to loans and is currently onboarding partners. Now that food security will rise to one according to the UN record 310 million Africans by 2030, ThriveAgric has planned expansions to Tanzania, Egypt and Zambia to mitigate the potential impact.
ThriveAgric’s 2022 impact report is now available for download here
