In its new business strategy known as “Farmer Obsession,” ThriveAgric has introduced the ThriveAgric Marketplace to help one million smallholder farmers raise their yields. The company will work to improve the lives of smallholder farmers by promoting commercial farming over subsistence farming, which will result in a longer-term increase in food security.
The ThriveAgric Marketplace aims to increase local food production, boost the aggregation of farm produce that is in high demand, and enable access to premium markets through trade and supply to domestic and global off-takers. These goals will be accomplished by bringing together domestic and international off-takers. In addition to the out-grower programme the company offers, its Marketplace provides farmers with access to high-quality agricultural inputs and tools that are also competitively priced. These include seeds, fertiliser, crop protection goods, cereals, and water pumps.
This year alone, the ThriveAgric Marketplace has aggregated and supplied over 100,000 metric tonnes of soybeans, paddy rice, maise, sorghum, millet, and wheat to the Nigeria Commodity Exchange (NCX), Flour Mills of Nigeria, Gerawa Rice Mills Ltd, Amo Byng Nig. Ltd, Leboil Ltd, Salco Ltd, ASM Nig. Ltd, Falke Oil, and other businesses. The Marketplace has more than 500 warehouses. Additionally, the corporation has worked with the Flour Milling Association of Nigeria (FMAN) to facilitate import substitutions. This will be accomplished with the support of 10,000 wheat growers during the 2021 dry season.
Commenting on the initiative and the new strategy, the Chief Executive Officer of ThriveAgric, Uka Eje, expressed the company’s desire to transform African agricultural infrastructures. He said, “In recent times, experts argue that agricultural production in Sub-Saharan Africa remains lower than it does in the rest of the world due to limiting regulations, climate, soil quality, disease, and reliance on subsistence farming.” ThriveAgric’s goal is to increase agricultural production in Africa.
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However, in the distant past, our continent was home to flourishing agricultural systems that ensured a steady supply of food and guaranteed its safety. ThriveAgric’s mission is to reverse the current trend and rebuild Africa’s agricultural systems using our new strategy and the initiatives that will follow it. These initiatives will encourage scale by putting our smallholder farmers in a position to obtain a greater return on the value of their labour. Over time, this will help Africa’s agricultural sector grow sustainably. It will also help improve food security, manufacturing, and trade.
ThriveAgric empowers small-scale farmers
Over 350,000 smallholder farmers in Nigeria have been empowered by ThriveAgric’s proprietary Agricultural Operating System (AOS) technology to increase their yield and income by selling their products to FMCGs and food processors. This has been accomplished in over four years of ThriveAgric’s operations. The company has affected more than 2,600 communities, produced and traded up to 800,000 MT of grains, created more than 9,000 jobs, and operates more than 500 warehouses across Nigeria. In addition, the company has given Nigerian farmers loans covering more than 150,000 tonnes of fertiliser and seeds.
According to Adetoro Akindele, Vice President of Commercial Operations for the company, “ThriveAgric has identified a huge gap in our agriculture sector and has begun to provide necessary and expedient solutions for Nigerians and Africa as a whole.” This is particularly important in light of the rapidly increasing cost of food across the continent. To put these answers into action, we will keep looking for ways to grow vertically and horizontally inside our organisation to accomplish the goals we have set for it and achieve growth. With the appropriate kind of support and financial backing, our goal is to make Africa self-sufficient in terms of food production so that it can also contribute to feeding the rest of the world. The agricultural sector is chock full of opportunities and advantages.
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About ThriveAgric
They utilise technology to provide smallholder farmers across Africa with access to finance, data-driven best practices, and local and global marketplaces for their goods, with the ultimate goal of guaranteeing food security for all people.