Millions of people in Nigeria depend on the agricultural sector as their primary source of income. Yet, smallholder farmers, who produce the majority of the food, suffer a number of difficulties that reduce their productivity and profitability, including restricted access to capital, high-quality inputs, and markets. Fortunately, ThriveAgric, an agricultural technology firm, is using technology and financial inclusion to improve the lives of farmers and positively impact their communities.
Founded in 2017, ThriveAgric, a company with an emphasis on social impact, help smallholder farmers scale up their operations by offering high-quality inputs like fertilisers, enhanced seeds, and others obtained through collaborations with businesses like Value Seeds and Terra Fertilizers.
We had a conversation with Favour Eze, a Chartered Human Resources professional who leads People&Culture at ThriveAgric.
She told us about how the company is obsessed with farmers, and to assist them, they collaborate with off-takers, partners, input suppliers, and vendors. ThriveAgric’s intervention increases farmer profitability while lowering the cost of goods for end users. ThriveAgric also helps farmers sell their produce directly to large corporations, eliminating middlemen and increasing farmer profitability while lowering end-user costs.
She told us about the Agricultural Operating System (AOS), which collects data about farmland, including soil quality and area, to guide the number of inputs given to farmers. The AOS also enables them to monitor farm operations and offer individualised assistance to farmers, increasing their yields up to four times.
Favour noted that ThriveAgric is investing much in the AOS technology and scaling it commercially for the Agricultural industry stakeholders who need it.
ThriveAgric’s significant impact includes the upscaling of farmers and the communities they operate in. With over 500,000 registered farmers, ThriveAgric has a competitive advantage due to its emphasis on social impact and love for farmers. The company hires extension workers from their communities, trains them, and assigns them to farmers, positively impacting indigenous communities.
ThriveAgric is also growing across Africa. The business has already begun operating in Kenya and plans to move on to Ghana, Zambia, and Rwanda.
ThriveAgric is one of the companies using our suite of products to improve their processes, and the agricultural industry in Africa is about to transform thanks to ThriveAgric’s innovative strategy, which uses technology and financial inclusion to better the lives of farmers and the communities in which they reside.