In the past few years, there’s been a proliferation of crowdfunded AgriTech investment businesses in Nigeria. These companies are providing digital platforms that allow individuals to invest in agriculture. This helps farmers with the funding they need to scale; it also yields profits for the people who invest in the farms.
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While the majority of startups in this space are focused on crop production, one platform, ePoultry, is taking the crowdfunding investment model to poultry farming. For almost two years, it’s been connecting wiling investors with viable poultry businesses in Nigeria, and enabling both parties to reap from this relationship.
ePoultry was founded in 2019 by Anthony Owei. He says his company is on a mission to “solve the problem of poverty among small-holder farmers.” Besides plugging the funding gap in this sector, Owei wants to help numerous farmers acquire relevant skills and get market access.
His company does this by providing a complete value chain solution to rural poultry farmers, including helping them in the processing and sales aspects of their operations.
Persons interested in investing in poultry farms can visit the ePoultry website. It has a constantly updated list of projects available for sponsorship, featuring prices, investment duration, and expected ROI. Anyone can invest as soon as they register on the site.
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The ePoultry team says their investments yield returns of up to 50% per annum—one of the best returns there is in the AgriTech space.
Owei notes that the company is itself run by experienced poultry farmers. He believes that this sets it apart from other startups in this niche. Thanks to their work with founding and running the Tonyve Farms in Port Harcourt, they are firmly grounded in the intricacies of the poultry business. This plays to their advantage, and also benefits investors on their platform.
According to the ePoultry team, the startup has gained over 500 farm sponsors since its launch. They also say the platform has worked with 54 farmers, and over 400 retailers who have made profits from selling their partner farmers’ products. They count insurance companies, FinTechs, and input suppliers among their working partners as well.
ePoultry has gotten coverage from several quarters, including the Embassy of Ireland, the Obama Foundation, Wharton Africa Business Forum, the French Government, and the Embassy of France in Nigeria.
In 2019, ePoultry was named one of Nigeria’s Top 100 Emerging SMEs by Connect Nigeria. It was selected from among thousands of businesses after screening and voting processes. The company secured a spot in the prestigious list thanks to the support of its loyal followers.
Going forward, the ePoultry team intends to expand its capacity to work with other farmers in the Niger Delta area. They hope that, in the long run, it will also establish in other African countries.
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