The Agric business is one that requires adequate time and effort.
There are so many factors that are unpredictable: Weather, biological factors, labour, market price, off-takers and so on. That said, the agriculture business is also rewarding, and there is nothing as satisfying as growing food for people to eat, not to mention that the agric sector in Nigeria is very profitable. If you would love to be a farmer regardless, there is a platform that will make it easier, faster and help you start farming profitably in less than 5 mins.
You may remember that we featured Farmcrowdy when they first got started in November 2016 and we are excited that this is one startup that is here to stay. We have been following the progress of this platform for months now and they are genuine. Over the course of one year and six months, Farmcrowdy has been recognized by several media outlets like BBC, The Guardian, Forbes, Techcrunch and CNBC Africa, among others. They were also the only African startup to be selected for the US based Startup Accelerator, Techstars Atlanta in 2017.
Farmcrowdy has also won several awards including Agro-innovator of the Year 2017 and Agritech platform of the year 2017 by the Nigeria Technology Awards. They were also selected as Business Day’s Top 25 Most Innovative Companies 2017, and have been featured in The Rockefeller Foundation Food Loss and Waste Africa Report.
Farmcrowdy works by creating a platform where individuals can securely sponsor farms online. Their sponsorship then goes to a rural farmer who uses this fund to start and complete a farm cycle. At the end of the farm cycle, sponsors get back their initial sponsorship and returns on their sponsorship. The returns a farm sponsor gets depends on the type of farm sponsored.
Example 1, the maize farm has a farm cycle of 10 months, cost N95,000 with a 12% returns on sponsorship.
If 10 maize farms are sponsored, that means:
Initial sponsorship = N950,000
Returns after harvest = N114,000
Total = N1,064,000
Do a quick math for the maize farm using the profit simulator here
Example 2, the rice farm has a farm cycle of 9 months, cost N90,000 with a 15% returns on sponsorship.
If 10 rice farms are sponsored, that means:
Initial sponsorship = N900,000
Returns after harvest = N135,000
Total = N1,035,000
Do a quick math for the rice farm using the profit simulator here.
Sponsoring a farm also gives you a unique referral code that you can use to get a free farm of your choice when anyone makes a purchase with your code. Start earning from agriculture, Click here to sponsor a farm.
Farmcrowdy is bridging the gap between farmers who have no capital to cultivate farmland with farm sponsors who are passionate about influencing the Nigerian agricultural space and making profit while at it. In one short year, Farmcrowdy has already worked with over 1,000 sponsors to sponsor 3000+ farmers, and they have a huge goal to empower 50,000 rural farmers by 2022. This goal can only be achieved if other individuals buy into the vision of increasing food production in Nigeria, and that’s evident when farms are being sponsored.
The Vice President also recently recognized their efforts in the agric sector by paying them a visit at their office as a part of his tech tour and in a speech at the Harvard Business School earlier this year, where he cited Farmcrowdy as one of the startups pioneering groundbreaking innovation in agriculture. He even went ahead to sponsor farms on Farmcrowdy!
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