An agricultural tech startup called Thrive Agric aims to helpNigerian smallholder farmers increase crop supply and meet quality standards for markets.
This is because they United that farmers make up more than 35% of the workforce in Nigeria. Additionally, farming accounts for more than 20% of Nigeria’s annual GDP. These farmers work endlessly to produce crops such as palm oil, cocoa beans, maize, sorghum, nuts, rice and soybeans for many countries. As such, an
Those especially affected by the crop demand in Nigeria are smallholder farmers, or farmers with less than five acres of land. Available date shows that smallholders comprise 88% of all Nigerian farmers. Due to their small land space, they do not produce as many crops as competitors. Consequently, nearly 72% of Nigerian smallholder farmers live on less than $1.90 per day. Most live well below the poverty line.
Recently, the agricultural industry in Nigeria declined due to underinvestment in the industry as crude oil was a larger portion of Nigeria’s economy and thus supplied more income than agriculture.
Thrive Agric that is founded in 2017 has a goal to help smallholder farmers gain access to products and services that farmers don’t typically have access to.
They distribute products and services in rural areas and partner with other agricultural organizations to expand their reach. As a result of their efforts, more than 140,000 smallholder farmers in Nigeria have increased their abilities to meet supply. They have also improved quality and food safety in order to sell in more local and international markets.
Thrive Agric also helps smallholder farmers gain access to technology, which helps them gain a higher income. The startup created an app called Tradr, which helps smallholder farmers in Nigeria to gain access to seed, feedstuff, fertilizer and machinery providers. It also helps find local buyers for their products.
Additionally, the startup created another app called Tmoni, which provides smallholder farmers the ability to borrow, save, send and receive money through a digital wallet.
They further help smallholder farmers through a granted $1.75 million grant awarded to them by USAID. Theyu also operate in African through West Africa Trade & Investment Hub project.
The aim of Thrive Agric is to raise $10 million in total. This will help approximately 50,000 Nigerian smallholder farmers in the process of growing rice, maize and soybeans.
Women and young farmers residing in the northern parts of Nigeria are not left out int heir plan as the Boko Haram insurgency has left Northern Nigeria devastated, with many in the region struggling.
If the project succeeds in its goals, smallholder farmers will produce an astounding 50,000 metric tons of rice, maize and soybeans by the end of 2021. Through this project, smallholder farmers who typically do not have a sustainable income will receive yearly incomes higher than normal.
This is because Thrive Agric is helping farmers sell to more premium markets. The smallholder farmers participating in Thrive Agric’s project will gain access to:
Soil and crop production consulting services.
Pre-and post-harvest storage and logistics support.
Links to credit and agriculture insurance products that cover losses if any production problems occur.
Access to the company’s current and future mobile apps generally make the process of growing and selling crops easier.
Further, Thrive Agric’s project will create an additional 1,000 jobs in other areas of the agricultural industry. These roles could include farm, field or warehouse managers. Thrive Agric aims to hire women for at least 70% of these jobs.