Agriculture is the oldest business on earth but it seems the least penetrated by technology especially in Africa. Also, when it comes to investment, access to capital is an issue for the local farmers who own large expanse of land but lack adequate finance to cultivate them.
Introducing Nigeria’s first digital agriculture platform, Farmcrowdy.com, a platform that offers Nigerians with finance the opportunity to invest in agriculture using online technology.
Farmcrowdy works by connecting farmers with partners(Nigerians) around the world who would sponsor the farmer in one farming cycle.
According to Onyeka Akumah, CEO and Co-Founder, the company has acquired “over 1,000 hectares of farmland in the southwestern part of Nigeria especially in Oyo and Ogun state as we launch this initiative. With one farmer working on one hectare per season, this means that we have provided a platform to engage a minimum of 1,000 farmers with Farmcrowdy. Our goal is to secure 10,000 hectares around the eastern parts of Nigeria and the Lakaji Corridor in other to make use of dams and irrigation facilities in these areas.”
To join Farmcrowdy, visit the website and select to either become a farm sponsor or farm follower. Create your farm sponsor profile and visit the farm shop to put your money on a farm of interest.
Go through the profile of the farms and pick any of interest. Farm types include cassava farms, maize farms, tomato farms, chicken farms also all farms have different tenure/contract period and varying ROI from 13-25%. You get to know about the metrics of farming, get updates through video/pictures/timeline on what happens on the farm, learn what it takes to farm in your selected farms, watch your farmer grow the farm and engage him/her at will. At harvest, the farm produce are sold to the consumer market.
Profit is then split between the farmers, farm sponsors and Farmcrowdy.