Thrive Agric was officially launched by Uka Eje and Ayo Arikawe in July 2017, after its beta launch towards the end of 2016.
Thrive Agric is a “technology-driven agricultural company” with a passion for growth in agriculture, putting farmers first. The idea is to get smallholder farmers who need investment to help their business thrive and then provide them with the best equipment for their farms. This includes machinery, data-driven advisory and free access to premium markets. They get the funds by crowdfunding from people who show interest in supporting agriculture.
Their Core Values
- Extension service
- Farmer first
- Insurance coverage
- Regular updates
How it all Started
Uka Eje, who is currently the CEO of Thrive Agric, worked with smallholder farmers for six years. This gave him insights on how things worked in the farming sector, including the challenges faced.
Soon after graduating from University, Uka Eje and his co-founder Ayo Arikawe, built a supply chain for farmers in Northern Nigeria. Four years they followed the data of post-harvest losses with other companies nationwide. During these years they noticed a few major challenges farmers face, including:
- Poor finance
- No access to better inputs
- Low yield due to limited opportunities
On the other side of the coin are people in urban areas who seem to be interested in agriculture, but lack the time and skill to make it work.
Merging these two parties and their barriers, Uka and Ayo decided to launch a platform that will address both ends, and today we have Thrive Agric.
About the Farms
There’s a section for farms on the website where you can choose the farm you would like to invest in. Prices range from N80,000 to N260,000.
How it Works
- Create an account on thriveagric.com
- Choose a farm
- Get updates in your mail
- Get returns after a period of time
They make use of the 40:40:20 profit sharing model. 40% of the profits go to farmers, 40% to subscribers, and 20% to the company.
- In 2017, Thrive Agric was able to raise funding from the Abuja-based Ventures Platform Accelerator.
- Thrive Agric has been able to fund over 4000 farmers in 12 states in Nigeria alone.
- Uka Eje attests that a few months into 2018, the company has grown 10X by all the metrics used to measure their success and impact.
- They are currently working on expanding to other markets.
- Farmers now make more yields which helps the company progress daily.
How Thrive Agric is Contributing to Agriculture in Africa
It is easy to think agriculture is about to go extinct, considering how a lot of people shy away from it today. But you would be surprised how many people are willing to see it thrive, but are limited by circumstances or opportunities. Thrive Agric is that platform many people needed and if it continues in its mission to break barriers and propagate farming, many people in Africa will embrace agriculture better. Either as a subscriber or as a farmer.
Uka Eje has been meeting with other teams across Africa, following the Google Launchpad Accelerator that they were a part of. This has given him clearer insights into the challenges the continent is facing and will contribute to how he will implement ways to make Thrive Agric benefit not just Nigeria, but Africa at large.
There has been an increasing interest in agriculture and Uka attributes this to government interventions, international organizations and stakeholders.
Thrive Agric has a goal to reach out to other African countries, work with a million farmers and implement the best technology to easily and effectively help them achieve their dreams.
Contact and Connect with Thrive Agric
Thrive Agric is located at 29, Mambilla close, off Aso Drive Maitama, Abuja, Nigeria.
To be a part of the community simply log on to their website thriveagric.com. You can also contact them at +234 (0) 816 716 4014, send a mail or connect with them on their social media platforms, including Facebook, Twitter, and Instagram.