The lament over poverty has continued for decades since independence. The struggle for survival has taught us one thing – savings are not enough; one must continuously seek investment opportunities. Financial Technology (FinTech) comes as an option showing tremendous growth in Nigeria over the past few years championed by incredible intrapreneurs and entrepreneurs making individual contributions which have collectively led the FinTech industry in Nigeria to what it is today. Well, creative minds saw an opportunity to marry FinTech and the neglected agricultural sector and produce wealth for forward-thinking investors. One of the giant minds is – Farmcrowdy, established in 2016 with a mission to end hunger, achieve food security and end poverty in Africa. This ignited the establishment of many other agritechs in Nigeria today, but Farmcrowdy leads the market. De Critic, sworn to expose good and bad brands, independently looked into Farmcrowdy and found as follows.
Over the past 3 years, Farmcrowdy has succeeded in bridging the gap between willing investors, farmers and produce-buyers. Farmcrowdy is currently operational in 14 states across Nigeria and has signed up over 123,000 investors and 25,837 farmers into the company’s programs. These farmers, according to Farmcrowdy, have gone on to cultivate over 16,000 acres of farmland across Nigeria. Farmcrowdy is doing so well that it has now created a sister – Crowdyvest. It continues to extend into other areas including the recent extension to transportation buses. Interviews from investors reveal that there is minimal risk and investors are happy with Farmcrowdy’s services and return on investment.
Rural farmers are provided with improved seeds and farm inputs and are put through training on modern farming techniques. A market for the sale of their farm produce as well as logistics to move farm harvests to the market are made available. At the end of the cycle, farmers earn a decent return. On a larger scale, farmers are given the capability to farm more acres and by extension, leads to increased food production and security in Africa.
Investors on Farmcrowdy make their choice on the farm to invest in and simply transfer funds using their mobile phones or personal computers from anywhere around the world. The funds are then used to engage farmers, acquire and plant quality seeds, insure farmers and farm produce, complete a full farming cycle, sell harvests and then pay investors profits from a successfully farming cycle. During the farming process, investors are able to keep track of the full cycle and updates in the form of text, pictures and videos are sent to them.
This initiative has contributed immensely to and has ensured the provision of high returns to investors, availability of funds and technical assistant to farmers, increased employment opportunities for youths, the exportation of some of these farm produce and in turn, the generation of government revenue. Indeed,
for agricultural investment, Farmcrowdy changes the tide in Nigeria.
With the click of a few buttons in the comfort of your house, you too can become a digital farmer, contributing to economic development and earning while at it. And what is more? The Company is undergoing SEC compliances and security – https://www.farmcrowdy.com/
NB: This is not a paid content. De Critic independently analyse brands and protect the public from hideous facts. Do you find this info useful? Let us know in the comments below.
57 Responses
A nice initiative, This will help out those who want to go into agriculture, cushion the initial friction in starting up.
Yes Francis. That is an advantage of the initiative.
Some countries economy are thriving on agriculture. Most rich men in those countries are commercial farmers but here, it’s usually a different story. There is no known rich man in Nigeria that has made his money through farming.
Despite many calls for youths to engage in agriculture, it’s not yielding much positive response reason being that farming here is less profitable. It is not attractive.
For an investor to invest, earn back his/her capital plus profit, then farming must have been upgraded beyond what it used to be.
Aside provision of improved seeds and few other things mentioned, I know farmers encounters lots of challenges which extends to acquisition of arable land and lesser cost, DISEASE CONTROL and disaster such as flooding.
Eg, in my Town Ichi and extensively Anaedo, cocoyam was d cheapest farm produce about a decade ago but for past few years, it’s very scarce since emergence of on viral Disease, Mgbu-ede. Abundance of cocoyam is not in sight any more until the cure of this disease is found.
Many other crops and animals faces similar challenges.
How has Farmcrowdy addressed these challenges because, these are the things that would ensure return on Investment (ROI).
Daalụ Nenye.
I guess we will have to draw the attention of Farmcrowdy director to answer this, wherever he is. (I understand this is not a paid content).
However, I guess if their men on the ground have been delivering and investors have been reaping as we know, it shows they have the challenges covered.
This is the advantage of education and research. An agro-company must find means of surpassing such odds, and Farmcrowdy has.
I would rather invest my money on the man who knows how to get around it and bring me ROI than the handicapped man.
Awesome write up. Thanks Nenye.
But I’ll appreciate it even better, if it contains statistics as regards specific farm produce and related profitability.
Thank you Ugochukwu. We understand people may need more information that was why we dropped the link to Farmcrowdy website after the article. All the other information you need is there.
Very informative, I’m thinking about it next.
Thanks Chubby. Good to know.
I have been looking for such an opportunity, never knew such a thing like digital farming exist….its very illuminating, well-done Nenye
You are welcome Ifeanyi. Glad to be of help.
Nice work. Please do more of this on other platforms. This will help expose fraudulent ones who cheat Nigerians out of their laboured funds.
Thank you Cornelius. We will.
Wonderful!
I never knew that institutions like this existed and are properly functioning in Nigeria
This is so great as it will help bridge the gap between those willing to farm and funds required
How can one be a part of this both as a farmer and/or as an investor
Considering the high rise of Scams online
Do you have Any legitimate link to them?!
Thanks Chudi. They do exist.
Excellent review!!
Thank you Ibrahim.
This is a really nice and helpful article.
I also feel that more private companies like this farmcrowdy should be established to help in economic development of Africa at large
True Moyo. But although this article focuses on Farmcrowdy, there are many Agritechs in Nigeria today. many people just don’t know about it.
very nice,seems like digital farming is the way forward!!! nice article dear
Thank you Cex. It really does seem like it and more people are embracing it.
I got to know about Farmcrowdy 3-4 years ago. Their business model, strategy and impact is forever enticing. I must confess that this article has succinctly expressed all there is to know.
Thank you Chinenye, more power!
That’s nice to know Ifeanyi.
A very wonderful way to invest and make good profits…
Nice article…..Am so impressed.
Thank you Princewill. Pleased to impress.
Inspiring… Really nice content👌🏻… People especially Farmers should get this sort of awareness so as to produce in large scale😘
Thank you Anthony. Yes, I agree with you.
Very good write-up and very useful information👍
Thank you Chimee.
Well done Nenye! Thank you for the in-depth information. Investment minded people many a times have a problem of where to invest. With this information on our door steps and positive testimonials, many of us will give it a try.
Keep it up Nenye!
True Ada. That’s why we are here to give you quality information. Thank you very much.
Kudos to you De Critic. Every points noted above are unchallengeable facts. I would advice anyone who come across this to invest in farm crowdy. De critic u re doing well
Thank you SeanCreed. You can share the link to your friends and loved ones so that they too can be informed.
This is a good opportunity. And useful information.
I couldn’t agree more Obi.
Very true Obi. It is.
This is quite educational.
Thanks.
You’re really doing well…
The term analysis at the end should be analyzes though.
Thanks Thanos for the commendation and correction….It has being duly noted.
Wow! This is really something. I’ll surely look into it.
Good to know Nnamdi
Nice to note. Pls, keep it up.
Thanks, we hope to.
What an investment opportunity! Quite innovative and commendable. Right step in the right direction. Keep it up Nenye
Thank you Emeka, I sure will.
Very Expository…
Fintech is actually a deal for me everyone….
Nice article!!!
Thanks Victor, Good to know.
I have been using Farmcrowdy, indeed, I have never had issues with them.
This is nice to know. So says some other investors like you.
Wow! So much knowledge here, thanks Chinenye, I’ll give Farm Crowdy a try.
Thank you Sochima, I am very glad to help.
Thank you De Critic, for this.
We are glad we can help.
Nice one Chinenye, I always like your write up. I will give farmCrowdy a try.
Thank you Micheal, we always write to please while giving quality information.
Wowww, I have found another investment opportunity, thank you Chinenye, De Critic.
You are welcome.
This is great. The more investment, the better because this will go a long way to reduce our overdependency on oil.
Thanks Kelvin. Yes it will really go a long way.