The carbon credits market, valued at over $103 billion, offers a significant funding source for farmers globally.
Lower-income African countries face hurdles in accessing the carbon market due to limited funds, technical capacity, and unpredictable prices.
ThriveAgric and Acorn Rabobank Partnership:
ThriveAgric, a leading Nigerian Agritech startup, collaborates with Acorn Rabobank to provide carbon credit access to over 30,000 smallholder farmers. The initiative aims to remove 1.3 million metric tonnes of carbon emissions and generate $56 million in revenue for the farmers.
Empowering Smallholder Farmers:
Spanning nine Nigerian states, the project empowers farmers to regenerate farmlands, improve soil health, boost biodiversity, and enhance carbon capture. Farmers benefit from increased productivity, reduced losses, and additional income from carbon credits.
Expanding Scope and Potential Impact:
ThriveAgric’s CTO, Ayo Arikwe, emphasizes the vast potential of the carbon market in Africa. With plans to expand beyond agriculture, the initiative aims to address climate change challenges and contribute to sustainable development.
Launching the Dorewa Platform:
ThriveAgric launches the Dorewa platform to facilitate seamless carbon credit transactions for farmers across Africa. Through Dorewa, farmers can list their projects and earn additional revenue, contributing to carbon offsetting efforts.
Outlook for African Agriculture:
The partnership between ThriveAgric and Acorn Rabobank marks the beginning of a new era in African agriculture, leveraging carbon credits to promote sustainability and empower smallholder farmers.
Source: Benjamindada