By Adedapo Adesanya
Nigerian agric tech startup, ThriveAgric, bested competitors from Europe and America to win the Visa Everywhere Initiative (VEI) – a global open innovation program and competition for start-ups and fintech companies.
Taking place in Qatar in the ongoing FIFA World Cup 2022, the global finale was preceded by a year-long competition that saw entrepreneurs across the world compete in regional editions before advancing to the final stage.
ThriveAgric defeated Zeti, a fintech enabling pay-per-use financing of sustainable transport from Europe (2nd place), while audience favourite was awarded to Huli, a platform that connects patients, doctors, and other healthcare services from Latin America.
Speaking on the victory, Mr Ayo Arikawe, co-founder of ThriveAgric and winner of Central Europe, Middle East and Africa (CEMEA) leg of the competition, delivered his pitch on how ThriveAgric is enabling strategic partnerships with financial institutions and agriculture value chain players to provide smallholders with financial services, agriculture inputs, extension, market linkage, e-commerce, and payment services.
“As a central part of the Nigerian economy, agriculture is the livelihood and main source of income for many of our people. The hard work we’ve put into ThriveAgric will ensure that technology is leveraged to empower farmers across the country. To not only win the CEMEA regional VEI competition but also pitch at the final here in Qatar gives me great confidence in our ability to scale our solutions and continue to enrich farmers’ lives,” he added.
As for the organisers, Mr Andrew Torre, Regional President for CEMEA, Visa, more than 4,000 fintechs participated in the global Visa Everywhere Initiative, including a record 1,130 applications from Central Europe, the Middle East, and Africa.
He said, “A new fintech generation is transforming the way consumers and businesses make payments, making it easier for more people to access and move money when they need it. We congratulate ThriveAgric and all the winners in this year’s competition, and we look forward to continuing partnering with fintechs to solve the payments challenges of tomorrow”.
On his part, Mr Ruben Salazar, Senior Vice President and global head of Visa Direct, said: “As we strive to create more ways for people, SMBs, and larger businesses to participate in the global economy, the VEI competition provides a unique insight on how fintech is helping shape the future of money movement and expanding access to underserved markets and regions. Today’s Visa Direct Award winner will have access to modern tools and teams that help enable global money movement to billions of endpoints worldwide.”
The event brought together Visa and industry thought leaders and a previous Visa Everywhere Initiative winner to celebrate the innovative fintechs and their solutions. Mr Wade Arnold, founder and CEO of Moov Financial and 2021 Visa Everywhere Initiative North America and Global winner, returned as a judge, with special guest Visa’s Dr Saeeda Jaffar, Group Country Manager for the GCC region, hosting a fireside chat with French football legend, Marcel Desailly.
Modupe Gbadeyanka