By Aduragbemi Omiyale
A Nigerian-based technology-driven agricultural start-up, ThriveAgric, has won the 2022 Visa Everywhere Initiative (VEI) for Central Europe, the Middle East, and Africa (CEMEA).
With this feat, apart from getting a monetary prize, the firm will get a spot in the finals of the global innovation program and competition for start-ups and fintech companies scheduled to hold in Qatar, in November 2022.
ThriveAgric was one of the 1,300 applicants which entered the competition from across the region, each with solutions aimed at delivering innovative payment and commerce solutions to consumers and businesses.
Co-founder of ThriveAgric, Mr Ayo Arikawe, while commenting on the feat, said, “Agriculture is at the centre of the Nigerian economy, yet the sector faces productivity-limiting challenges like access to finance, poor access to the market, and technical know-how. This is why our goal at ThriveAgric is to provide profitable support for smallholder farmers and enable food production efforts, leveraging technology.
“So, this partnership with Visa is a testament to the work we have put in so far and we look forward to scaling our solutions to more farmers.”
The Country Manager for Visa Nigeria, Mr Andrew Uaboi, stated that, “We have witnessed substantial growth in the fintech sector in Nigeria.
“Last year, Nigeria had the most entries from Central Europe, the Middle East and Africa, this year two indigenous startups made it to the finals with ThriveAgric emerging the winner. This is a clear demonstration of the country’s significance in the fintech sector, and the growth potential of the digital economy.”
ThriveAgric is a technology-driven agricultural company passionate about food security, that enables strategic partnerships with financial institutions & agriculture value chain players to provide smallholder farmers with capital (in form of agriculture inputs), data-driven best practices, access to local & global markets for their commodities, as well as financial, e-commerce, and payment services.
Meanwhile, another Nigerian company, Carepay, also made it to the final five and won the Audience Favourite Award.
CarePay is an aggregator of health services, driving accessibility and affordability of healthcare services through insurance and discount plans.
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Adedapo Adesanya