Pastures New

Nigeria’s ThriveAgric seeks $30m for African agri-fintech expansion

By David Whitehouse

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Posted on June 22, 2023 04:00

 © REUTERS/Afolabi Sotunde
REUTERS/Afolabi Sotunde

ThriveAgric is seeking to raise about $30m in equity to expand its agri-fintech business in Nigeria and new African markets, CEO Uka Eje tells The Africa Report.

The fundraising is making “good progress” and Eje aims to conclude the round in August. The company will also seek to raise an additional, unspecified amount of debt and is in discussions with debt investors, he says. Eje aims to enter Tanzania and Zambia in the first half of 2023.

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