ThriveAgric

ThriveAgric Unveils Partnership with Acorn - Rabobank to Provide Carbon Credit Access to 30,000+ Smallholder Farmers

April 3, 2024
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3 min read
Arcon ThriveAgric

Photo Caption- LR: Uka Eje, CEO ThriveAgric and Marjolijn Hekelaar, Representative Acorn Rabobank

Plans to facilitate the sequestration of 1.3 million Metric Tons of CRUs and generate over $50 million in carbon credit revenue

ThriveAgric, a leading agricultural technology company today launched a strategic partnership for Nigeria with Acorn Rabobank, a project committed to sustainable agroforestry practices and carbon market development globally. This initiative, which aims to enable over 30,000+ smallholder farmers with carbon credit access and general benefits of the adoption of agroforestry practices, further establishes the company’s mission to drive sustainable agriculture practices to provide adequate support for farmers and impact rural communities.

The project seeks to enhance carbon sequestration, promote biodiversity, improve soil health, and provide economic benefits to local communities impacting smallholder farmers across 9 states including Kaduna, Gombe, Adamawa, Taraba, Bauchi, Jigawa, Niger, Nassarawa, and Kano states, affording them the opportunity to receive additional income from carbon credit and other climate-smart benefits on the initiative. The farmlands of these farmers will be regenerated and climate change mitigated, thereby increasing crop productivity and reducing the impact of climate related shocks leading to amongst others post harvest losses.

At a roundtable discussion hosted by ThriveAgric in collaboration with AGRA earlier today, key stakeholders, including policymakers, industry experts, investors, and agricultural practitioners had the opportunity to share innovative ideas and best practices aimed at driving sustainable agriculture practices across these various touchpoints.

Speaking about the unveiling, CEO ThriveAgric, Uka Eje, emphasized the importance of collaborative efforts in addressing the complex challenges facing the agricultural sector. “Through partnerships like the one forged with Acorn - Rabobank, we are confident in our ability to drive positive change and create lasting impact in the lives of smallholder farmers across Nigeria."

The partnership between ThriveAgric and Acorn - Rabobank aims to leverage their respective expertise and resources to implement innovative solutions that enhance the resilience and productivity of agricultural landscapes while promoting environmental stewardship and social inclusivity.

Marjolijn Hekelaar, ACORN - Rabobank representative, expressed enthusiasm about the partnership and its potential to drive transformative change in the agricultural sector. "At Acorn - Rabobank, we are committed to building lasting partnerships that enable the promotion of sustainable agroforestry practices and empower farming communities. Our partnership with ThriveAgric represents a shared commitment to harness the power of the Voluntary Carbon Market to create value for both farmers and the environment. Together, we aim to unlock new opportunities for nature based solutions and sustainable development in Nigeria's agricultural sector."

It is estimated that Africa currently generates only 2% of its maximum annual potential of carbon credits. About 30% of the carbon abatement potential is also estimated to lie within the agriculture sector with key low-carbon options such as agroforestry, regenerative agriculture and other initiatives that bring this to the fore. Trees need Carbon to grow, however, several deforestation activities have resulted in increased drought, conflict, and climate-related calamities, which result in high pre- and post-harvest losses, thereby decreasing food availability amongst others, bringing the proportion of hungry people to 17 million in 2022. The project offers a holistic approach to agricultural development that addresses environmental, economic, and social challenges while promoting long-term sustainability and resilience in farming communities.

ThriveAgric is also building a platform known as Dorewa, a solution to help other African climate focused companies get started on their carbon journey. Sign up for early access here.

For additional   information   or   interview   requests with a ThriveAgric spokesperson, please contact us at

info@thriveagric.com

About ThriveAgric

ThriveAgric is a fast-growing agricultural technology company passionate about ensuring food security. They empower smallholder farmers, leveraging their technology to access finance, and improve productivity & sales to promote food security. ThriveAgric has 450+ warehouses and works with over 800,000 smallholder farmers in Nigeria, Ghana and Kenya & Uganda. ThriveAgric’s Theory of Change target for 2027 is to provide $500 million in credit to 10 million smallholder farmers and to double the numbers by 2050.

About Acorn - Rabobank:

Acorn is on a mission to empower smallholder farmers globally. They support them as they transition to sustainable agroforestry practices and measure the resulting biomass increase, issuing carbon credits accordingly. These are then sold to responsible corporations, with 80% of the total revenue flowing back directly to the farmers.

This article is a Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

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