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/News/Kitovu Says It Has Reached $1.3M Revenue Since 2016

Kitovu Says it Has Reached $1.3M Revenue Since 2016

Kitovu says its eProcure platform connects smallholder farmers to processors, with $1.3M revenue, 25,000 farmers supported, and $4M demand.

In Short

  • Kitovu says it has generated about US$1.3 million in cumulative revenue since launching in 2016.
  • The Nigerian agritech connects smallholder farmers with processors and commodity buyers using a single platform.
  • Kitovu says it has supported over 25,000 farmers and secured over US$4 million in verified buyer demand.

What Happened

Kitovu is positioning itself as an end-to-end platform for agricultural supply chains in Nigeria, covering production support, aggregation, storage, financing, and trade.

At the centre is eProcure, which Kitovu describes as an AI-enabled commodity trading and supply chain platform. AI-enabled means it uses software models to help make matching and decision-making faster, like an automated broker. Kitovu says eProcure matches verified farm produce with processor demand, manages quality checks and traceability, and supports secure supplier payments through trade financing.

Kitovu also runs complementary tools. YieldMax provides farmers with access to inputs and agronomic advice, using AI and remote sensing, which is analysis of farm conditions from satellite or other data sources. StorageX offers storage-as-a-service and warehouse receipt financing, which is a loan backed by produce stored in a warehouse.

Founder and CEO Nwachinemere Emeka said he started Kitovu after running a five-hectare maize farm and seeing issues such as poor input access, unreliable markets, and risky farm loans. He argues the bigger problem is fragmentation, with farmers lacking advisory, storage, and affordable credit, while buyers struggle to source consistent and traceable commodities.

Kitovu says it has also run revenue-positive pilots in Rwanda and Benin Republic, and plans to expand further across West and East Africa as it unlocks more working capital.

Why It Matters

Agricultural trade in many markets still relies on informal networks, which can lead to quality disputes, delayed payments, and supply risk for processors. Platforms like Kitovu are trying to formalise this with verification, traceability, and embedded finance.

If Kitovu can convert its reported US$4 million verified demand into repeat supply, it could become a key procurement channel for processors. The bigger test is financing, because commodity trading often needs working capital to pay suppliers quickly while waiting for buyers to settle invoices.

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