The agritech sub-sector is a rapidly emerging industry that has revolutionized the agricultural landscape by providing vital funding to smallholder farmers and serving as a bridge between them and end users. This model has significantly reduced the influence of middlemen, thereby improving food security across the continent.

At the forefront of this transformation is Uka Eje, the CEO of ThriveAgric, a leading agricultural technology company based in Nigeria. Eje is passionate about ensuring food security and envisions an Africa that feeds both herself and the world. Founded in 2017, ThriveAgric seeks to empower smallholder farmers by providing access to finance, data-driven farming best practices, and both local and global markets.

Under Uka’s leadership, ThriveAgric has made remarkable strides, expanding operations across Nigeria, Ghana, Kenya, and Uganda. The company has facilitated financing and market access for over 800,000 smallholder farmers across 3,000+ communities, partnering with local and international buyers alongside financial institutions to achieve this milestone.

The idea for ThriveAgric was born out of a crisis in Nigeria’s agricultural market, particularly the Tuta Absoluta also known as "tomato Ebola" outbreak during the administration of former President Goodluck Jonathan. During this period, tomatoes were purchased from local farmers at an exploitative rate of N500 but were sold in bigger cities for as much as N14,000, a gap driven by middlemen.

Reflecting on this pivotal moment, Eje states:“During former President Jonathan’s administration, there was a crisis where tomatoes were being sold for exorbitant prices. While farmers were paid a meager amount for their produce, consumers in cities like Lagos had to pay a premium. The wide price gap created by middlemen disincentivized farmers. They were not motivated to produce, which further disrupted the food supply chain."

Recognizing this issue, Eje set out to solve the problem by ensuring that farmers were properly incentivized to farm. “For us at ThriveAgric, the goal was to offer farmers better incentives, so they would return to their farms and earn more for their hard work,” Eje explains. The company’s mission became to provide farmers with access to finance, expert advisory services, and direct market connections, thus cutting out the layers of middlemen that inflated prices and eroded farmer profits.

ThriveAgric has since grown into one of Africa’s most successful agritech companies. With over 450 storage warehouses and a presence in multiple African countries, the company is directly supporting close to one million smallholder farmers. The success of ThriveAgric has contributed to the company’s expansion into Ghana, Kenya, and Uganda, further amplifying its reach across Africa.

At the core of ThriveAgric’s success is a desire to address a massive problem—food insecurity. Eje believes that agriculture holds the key to solving some of Africa's biggest challenges. He explains:“The drive to solve a major problem, the love for one’s country, and the recognition of agriculture’s potential are what keep us going. Agriculture is not an easy sector, especially for young people, but the opportunities are vast if we stay focused. Africa is blessed with arable land, and agriculture represents a significant portion of the GDP in many countries. If we harness the potential of this sector, we can create lasting change.”

Like many entrepreneurs, Eje has faced his share of challenges. In the early days of ThriveAgric, securing access to finance was one of the biggest hurdles. “Initially, the challenge was figuring out whether our concept was viable in the marketplace. We needed to prove that our model could work,” Eje recalls. Additionally, the uncertainties surrounding financing and finding people who had experience in the agritech space made the journey difficult.

Beyond finance, team building and understanding the complexities of operating across diverse communities in Africa were also significant challenges. Cultural differences between regions such as Northern and Western Nigeria required ThriveAgric to adapt its approach in each locality.

“In the beginning, we relied on friends and family to fund our venture, and then we turned to crowdfunding. Convincing institutional investors about our business model was tough, but we persisted,” says Eje. He adds that the company's resilience was tested again during the COVID-19 pandemic. However, the lessons learned during these difficult times strengthened ThriveAgric’s ability to weather future challenges.

ThriveAgric’s Cutting-Edge Technology: Revolutionizing African Agriculture

At the heart of ThriveAgric's transformative impact on agriculture is its proprietary Agricultural Operating System (AOS), also known as Fida. This innovative agritech software is revolutionizing farming across Nigeria and Africa by providing essential tools for smallholder farmers. Fida enables facial recognition for accurate farmer identification, ensuring secure field data collection, which in turn facilitates access to financing from financial institutions.

The AOS technology which is used by 3,000+ agronomy agents and institutions empowers farmers with digital identity, data-driven insights, including real-time weather forecasts, helping them mitigate the risks of climate change and increase harvest yield by equipping farmers with timely information, financial access and access to market. ThriveAgric’s technology is enhancing productivity and sustainability in the agricultural sector across Africa.

Eje emphasizes the role that the government can play in supporting agritech companies like ThriveAgric. He advocates for a collaborative relationship where the government acts as a catalyst for new initiatives by providing an enabling environment for businesses to thrive. This includes ensuring infrastructure, financing mechanisms, and policies that support agriculture.

“The government should be a partner in creating an environment where agritech can thrive. This means providing access to the right infrastructure, financing, and a solid storage and transport network,” Eje advises.

For young entrepreneurs venturing into agriculture, Eje underscores the importance of setting a clear vision around the sector in agriculture one desires to focus on, patience, persistence, and grit. "Understanding the ecosystem, coupled with resilience, is essential. Agriculture is challenging, but these qualities can help entrepreneurs succeed even in the toughest environments."

Under Uka Eje’s leadership, ThriveAgric has garnered numerous accolades. In 2018, Eje was named among the Top 5 CEOs at the African Business CEO Summit, and in 2019, he received the Future Award for Agriculture. Other notable recognitions include his spot on Africa’s 40 Under 40 Business Icons in 2023, as well as recognition from The Guardian's spotlight on "Nigeria's Most Innovative and Leading Drivers of Food Security in 2023" Financial Times recognition as one of the top 20 fastest growing companies in Africa 

Conclusion

ThriveAgric, under the guidance of Uka Eje, is rewriting the story of agritech in Africa. By connecting smallholder farmers to finance, markets, and technology, the company is making significant strides in addressing food insecurity, increasing agricultural productivity, and transforming the agricultural value chain. With the right focus, vision, and commitment to solving real-world challenges, ThriveAgric is positioned to be a leader in Africa’s quest for sustainable food security.