Israel Chigozirim is committed to returning wealth to farmers in Africa. He is doing this through his company, Riwe, an altruistic Nigerian startup in the Masters Business Creation (MBC) Global program that provides expedited insurance and crucial resources to farmers.
“There has been an ironic shift in agriculture,” he said. “We see farmers struggling and people who grow food for a living going to bed hungry.”
Chigozirim’s creativity and passion for community-driven change inspired him to become an entrepreneur. “I’ve always been passionate about solving problems,” he said. He had several successful endeavors before dedicating his efforts to the gaps within the agricultural industry.
Chigozirim first noticed these market gaps in his youth, spending time with his father on the farm. “There are more losses than there are gains,” he said. “For every dollar made, farmers are losing up to 90 cents of it.”
Given his solution-oriented nature, Chigozirim started searching for ways to lessen the gap. “We realized that the problem of agriculture is not just the problem of the availability of food,” he said. “We’re having to deal with knowledge gaps and the digital divide. That’s what started Riwe.”
With ambitious goals and a clear vision, Chigozirim enrolled in the MBC Global program at the University of Utah’s David Eccles School of Business to gain deeper insights from like-minded founders and grow from the MBC’s structured curriculum. “As a founder, you are not losing sight of your vision, and every task you do improves your business while getting a degree,” he said. “You’re able to have a grasp of all of the concepts you need to build a startup.”
To date, Riwe has insured just over 2,000 hard-working farmers. “Our goal is to insure one million farmers by 2030. I want to scale this across Africa and across the globe,” Chigozirim said. He is currently fundraising to reach this goal and expand Riwe’s impact. “We are more than a startup; we are a beacon of hope within our community.”
Chigozirim shared how many of the challenges he’s encountered while building his company stem from the need to “Innovate from scratch.”
“There is no other company in Nigeria that does what we do,” Chigozirim said. A notable example of innovation is Riwe’s commitment to offering their parametric climate insurance to women, despite traditional and cultural norms that would typically limit women’s access to these resources.
Another deeply rewarding aspect of starting his company, Chigozirim said, is “watching the people that work for Riwe grow, watching them make a career out of this. It’s very inspiring.” He takes a creative approach to managing his team, encouraging them to tell stories through their work and view life through a broader perspective.
Riwe will continue to foster hope within African communities. Donation information, along with how you can become involved within the Nigerian agricultural community, can be found here. You can also learn more about Israel Chigozirim and Riwe’s story here.
