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ThriveAgric, a leading agricultural technology company, today, released its 2022 impact report. The report reiterates the company's mission to build the largest network of profitable farmers and accelerate an Africa that feeds itself.

The report shows the Nigeria-founded company scaled its operations into neighbouring Ghana and Kenya in 2022.

As part of the key highlights of the impact report, ThriveAgric said it connected with over 514,000 smallholder farmers in more than 2,900 communities. It piloted operations in five regions in Ghana and six counties in Kenya. The firm also invested over $100 million in financing.

According to the report, ThriveAgric produced over 1.5 million metric tonnes of grains, recorded a 153.3% year-on-year increase in the number of women impacted, and 80% increase in youth impact in communities.

The report says the company accomplish these milestones by leveraging its proprietary technology and key partnerships with governments and global institutions including the Ghana Commodity Exchange (GCX), Promasidor (Kenya) Limited, VISA, and OCP Africa.

“In addition to the social benefits such as reducing poverty and improving gender equality, smallholder farmers that work with ThriveAgric produce double the national average yields due to access to better quality seeds, fertilisers and equipment,” said Uka Eje, CEO and co-founder of ThriveAgric, on the social impact of the company. “At ThriveAgric, we will continue to adopt a multifaceted approach that includes collaboration between various stakeholders, increased investment, technology adoption, and sustainable agricultural practices. Our 2022 impact report is a testament that we are on the right track.”

Access to funding remains one of the biggest challenges confronting smallholder farmers in Africa. According to the Africa Development Bank, agri-SMEs in Africa are critically underfunded with an annual financing gap of approximately $100 billion. ThriveAgric says it is bridging this gap by providing input financing, data-led advisory to improve output, supply chain efficiency, and by encouraging sustainable agricultural practices with the aim of building a network of profitable smallholder farmers and contributing to a food secure Africa.

ThriveAgric says it aims to provide $500 million in credit to 10 million smallholder farmers across Nigeria, Ghana, and Kenya by 2027 and to double the targets by 2050. According to the company, it will also be working with organisations who leverage its Agricultural operating Software (AOS) to provide access to loans for their farmers, and it is currently onboarding partners.

ThriveAgric plans to expand into Tanzania, Egypt, and Zambia.