The Visa Everywhere Initiative (VEI), a worldwide open innovation initiative and competition for start-ups and fintech businesses, has announced the winner as Nigeria's ThriveAgric, an innovative start-up that champions technology to revolutionize the payments environment for smallholder farmers.
The global finale, which took place in Qatar during the FIFA World Cup 2022, was preceded by a year-long tournament in which entrepreneurs from all over the world participated in regional competitions before moving on to the final round.
According to Andrew Torre, regional president for Visa's CEMEA region, "this year we have seen more than 4,000 fintechs join in the worldwide Visa Everywhere Initiative, including a record 1,130 applications from Central Europe, the Middle East, and Africa." "A new breed of fintech is revolutionizing how consumers and companies make payments."
In his presentation, Ayo Arikawe, co-founder of ThriveAgric and winner of the CEMEA leg of the competition, explained how ThriveAgric is enabling strategic partnerships with financial institutions and players in the agriculture value chain to provide smallholders with financial services, agricultural 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. Ayo Arikawe stated,
To honor the creative fintechs and their solutions, the event included thought leaders from Visa and the industry, as well as a past Visa Everywhere Initiative winner. Wade Arnold, founder, and CEO of Moov Financial and winner of the North American and global competitions for the 2021 Visa Everywhere Initiative served once again as a judge. Special guest Dr. Saeeda Jaffar, Group Country Manager for the GCC region at Visa, moderated a fireside chat with football legend Marcel Desailly.
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