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5 agritech investments to consider, as COVID-19 causes uncertainty in stock market

Fakoyejo Olalekan by Fakoyejo Olalekan
April 13, 2020
in Markets, Socio Economic, Spotlight
CBN to increase loans to agricultural sector to 10% of total bank credit, Agritech, Efficient Power: Addressing a Critical Element in Nigeria’s Agro-Industrial Revolution
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In a world where the Coronavirus pandemic has caused uncertainties in capital markets, agritech startups may have become safer options for investors. Today, there are various agritech startups that have made farming more profitable, by eliminating risk exposure and delivering ROI to investors who do not have to buy land, place workers on salaries, or even burn cash on pest control and management.

These agritech startups have reinvented the way farm business is operated, hence, making more Nigerians – most especially blue-collar workers –to weigh their investment options and consider becoming digital farmers.

The following are five selected agritech startups that offer high yield investment opportunities through internet/mobile app-farming.

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  1. Groupfarma

This agrictech startup was founded by Niyi Oguntade. It is an initiative of Timesellers Limited. Groupfarma focuses on tubers, small ruminate, vegetables, poultry, and rice farms. The investment options offered by Groupfarma have various returns on investment, falling between 20% and 28%, with farming cycles from 6 months and above.

READ MORE: COVID-19: How your business can provide superior customer service despite lockdown

The capital required for investment is at least N50,000 per unit and the farm is covered by Leadway Assurance. Groupfarma has farms located in Ogun, Oyo, and Kaduna states. The company partners with the Nigerian Agricultural Insurance Corporation.

2. Farmsponsor

The firm is co-founded by Bill Kenneths and Akpa Chike. Farmsponsor leverages on technology to bridge the gap between interested investors and the farmers. It mainly focusses on poultry farming and offers investors assurance of 15% on 12-week cycles.

The start-up opens its farm to investors who are willing to invest from N100,000 to as much as N1 million. The investment firm also offers investors the opportunity to save their cash with vestwallet for upcoming cycles. Farmsponsor is also insured by Leadway Assurance and the Nigerian Agricultural Insurance Corporation.

READ MORE: Dangote: The King cement maker moving against all odds

3. Requid

Felix Imafidon is the founder of the marketplace, Requid, which won the maiden edition of the Nigerian Stock Exchange X-Kathon competition. The agric investment platform operates with a twist, as it offers investors the option of liquidating (selling) at any time if an investor cannot wait till the end of their cycles. Note that the cycles are usually between 3 to 12 months.

Five agric-tech funds you can invest in as COVID-19 causes uncertainty in stock market
Uka Eje, Co-founder Thrive Agric

The company also has the lowest capital investment among the selected agric-tech startups. Interested investors can invest as low as N5000 in investment opportunities aggregated by Requid, which include rice, goat, pig, cowper, cashew nuts, fish, yam, and poultry farms. Surprisingly, Requid offers as high as 60% cumulative return on investments annually.

READ MORE: Robots controlling spread of virus: A potential game changer

4. Thrive Agric

The agritech startup was co-founded by Ayodeji Arikawe and Uka Eje in 2016. Thrive Agric has farms in Oyo and Kano. Investors are allowed to invest from as low as N10,000 to as much as N85,000, depending on the investor’s preferred crop. Returns on investment fall between 12% and 20%, depending on the level of investment.

Thrive Agric manages both poultry and rice farms, which are insured by Leadway Assurance.

5. Farmcrowdy

This list will not be complete without mentioning this agritech startup. Farmcrowdy is a household name in the agric investment space. It was co-founded by Onyeka Akumah, Akindele Phillips, Tope Omotolani, Christopher Abiodun, and Ifeanyi Anazodo four years ago to empower farmers and help investors earn profits without having to lift a shovel.

(READ MORE: Covid-19: Nigeria risks supply chain bottleneck, loss of N2.27 trillion in trade)

Farmcrowdy offers a variety of investment options to investors, ranging from maize farms to rice, potatoes, fish, cassava, poultry, cattle, and more farms, most of which are located in Kaduna, Oyo, Ogun, Niger State, and Lagos states. These farms are insured by Leadway Assurance.

Five agric-tech funds you can invest in as COVID-19 causes uncertainty in stock market
Co-Founder of Farmcrowdy-Onyeka Akumah

Capital for investment falls between N20,000 and N60,000 per unit, with ROI ranging from 7% to as high as 44% depending on the investor’s farm choice. Farmcrowdy’s farm cycle runs between 3 and 24 months.

Why you should invest in agric

Nigeria is gradually moving closer towards experiencing an agrictech boom, as food security within the country is still low. The population explosion has further increased the value of agric businesses.

With a population of over 190 million,  Nigerian farmers are in need of more investments to meet the local demand for agricultural production as well as exportation needs. Not only is there a demand, the land is readily available, considering that out of 82 million hectares of Nigeria’s arable land only about 32 to 34 million hectares are cultivated.

(READ MORE: Covid-19 Update in Nigeria)

Following the border closure by President Muhammadu Buhari to support domestic farming, these hectares are expected to drastically decline in number in the long run. Ongoing efforts by the government to diversify the economy from oil dependence will also help in this regard. This is already paying off, considering that agriculture was one of the key drivers of the non-oil sector’s contribution to Nigeria’s GDP, growing by 2.28% in Q3 2019.

However, there is a warning sign

Note that the agritech investment market is still very much under-regulated, even as the Securities and Exchange Commission (SEC) has warned interested investors must carry out due diligence before patronising any agritech platform. Part of this due diligence is to contact SEC after discussion with the investment platforms.


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Tags: Agritech StartupsCovid-19FarmcrowdyinvestorsMarketNigerian Business NewsNigerian Tech Startupsstock markettech roundup
Fakoyejo Olalekan

Fakoyejo Olalekan

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: fakoyejo.olalekan@nairametrics.com.

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Comments 13

  1. Bayei Daniel says:
    April 13, 2020 at 12:20 pm

    Educative Article on turning away from the ever crashing oil sector to the future of investment in Agriculture.

    Fakoyejo olalekan …..nice job

    Reply
  2. Uche Oguonu says:
    April 13, 2020 at 11:49 pm

    Agri-tech is certainly the way to go at this time. Changing the face of Nigerian agricultural sector is a task that must be done

    Reply
  3. Mayowa says:
    April 14, 2020 at 6:01 pm

    I’m surprised that Nairametric would criticise an Agric tech company for offering 6-monthly ROI of 50% whilst promoting another in the same returns band. Smacks of inconsistency, to me.

    Reply
  4. Mayowa Oduts says:
    April 14, 2020 at 6:02 pm

    I’m surprised that Nairametric would criticise an Agric tech company for offering 6-monthly ROI of 50% whilst promoting another in the same returns band. Smacks of inconsistency, to me.

    Reply
    • Agritech says:
      April 16, 2020 at 5:22 am

      This is a sponsored article. Lacks credibility and proper investigative journalism.

      Reply
  5. Gbemi says:
    April 15, 2020 at 10:11 am

    I love the fact that reQuid aggregates and verifies all the other agricultural technology companies in one place. Makes a whole lot of sense.

    Reply
  6. Kingsley says:
    April 16, 2020 at 7:47 pm

    Interesting facts here… & true too. My second year of doing business with ReQuid & it’s all you ever want; all Agrotech opportunities in one place & for a most discounted price too.
    It’s amazing & proudly Nigerian!!

    Reply
  7. Anonymous says:
    April 20, 2020 at 1:28 pm

    I didn’t understand this nairametrics

    Reply
  8. Anonymous says:
    April 27, 2020 at 12:54 pm

    Nice

    Reply
  9. Anonymous says:
    May 2, 2020 at 1:43 pm

    Nice one

    Reply
  10. Abiola says:
    May 10, 2020 at 4:51 pm

    Thank you for this timely information Mr Olalekan.

    Reply
  11. Anonymous says:
    June 28, 2021 at 10:19 am

    I tried one Farmpower, they are yet to pay up and keep giving excuses. I don’t think they intend to pay.

    Reply
  12. M Rhodes says:
    June 28, 2021 at 10:23 am

    I tried Farmpower, they are yet to pay up and keep making excuses. I don’t think they intend to pay.

    Reply

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