Thrive Agric receives $1.75m grant to assist 50,000 farmers

Thrive Agric, an agric-tech company, says it has secured a $1.75 million grant to support 50,000 smallholder farmers growing rice, maize, and soybean in Nigeria.

The grant is provided by the West Africa Trade & Investment Hub, a project funded by the United States Agency for International Development (USAID), to boost food security in the country.

In a statement on Monday, the company said the 50,000 farmers tapped to join the project will receive agronomy advisory services, pre-and post-harvest storage and logistics support, links to credit and agriculture insurance products, and access to the company’s current and future mobile apps.

As part of the project, the company will also use strategies and technology to assist women and youth farmers in Kaduna, Kebbi, and Kano states.

Thrive Agric expressed optimism that the project’s success will see at least 50,000 metric tons of rice, maize, and soybean produced by the end of the 2021 season, which will be sold to premium markets and result in farmers enjoying higher-than-normal incomes.

“In addition, the project will create 1,000 jobs for others involved in the agricultural value chain, including for prospective farm, field, and warehouse managers,” the statement read.

“Nearly 70 percent of these jobs will go to women, who are often overlooked for higher-paying managerial positions.

Ayodeji Arikawe, co-founder and chief technology officer of Thrive Agric, said: “Existing efforts to support smallholder farmers tend to follow traditional approaches to boost their agricultural productivity, such as commercial firms integrating them into value chains through modern inputs.”

“We know that most smallholder farmers, particularly women and youth, require more nuanced support to facilitate their participation in markets and, ultimately, increase food security and incomes at the household and national levels.”

In his remark, Michael Clements, Trade Hub’s chief of party, said: “I look forward to seeing the company’s success in using tech solutions to benefit these farmers.”

“The lessons learned through their tech-savviness can be leveraged to assist future partners seeking innovative avenues to assist stakeholders in the agricultural value chain.”