ThriveAgric, a Nigerian agritech startup, is partnering with Visa as it expands into Kenya. This move is part of ThriveAgric’s broader effort to support local farmers and improve agricultural practices in the region.
ThriveAgric plans to set up accessible hubs in five Kenyan counties: Busia, Homabay, Migori, Nandi, and Narok. These hubs will serve as centres for training and input development. They will also help farmers consolidate their produce during harvest, ensuring they get paid based on market quality standards.
Agriculture is crucial for Kenya, involving over 40% of the population and 70% of rural residents. However, many farmers struggle with high-interest rates on loans needed for inputs and labour. Despite these challenges, agriculture remains a significant part of Kenya’s economy, contributing about 21.3% to the GDP, according to the Central Bank of Kenya.
Visa’s Country Manager for Kenya, Eva Ngigi-Sarwari, emphasised that this partnership will strengthen Visa’s network and directly benefit farmers. She highlighted the importance of smallholder farmers to Kenya’s economy and Visa’s goal of expanding the digital payments ecosystem.
ThriveAgric co-founder Ayo Arikawe called the collaboration a major milestone in their Kenyan expansion, which started last year with hubs in Busia and Homabay.
Agritech innovations have positively impacted Kenya’s agriculture, which employs more than 40% of the population and generates 65% of export revenue. This partnership aims to further empower farmers with access to capital, premium markets, and data-driven farming techniques.
Recently, ThriveAgric announced an initiative to generate $56 million in carbon revenue for 30,000 Nigerian farmers, showcasing its ongoing commitment to supporting agricultural communities.
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