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Digital Agriculture Investment platforms/options in Nigeria - Investment (577) - Nairaland

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Crowdfunding Investment Platforms And Options (non Agritech Categories) / What Is Digital Agriculture Investment All About? / Have You Heard About Social Insurance Investment Platforms (2) (3) (4)

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Re: Digital Agriculture Investment platforms/options in Nigeria by Sugar97(f): 7:45pm On Mar 05
Petyprince:
[s][/s]It seems you just bought a Tecno phone and it's making you misbehave right!! Continue supporting a criminal you will arrested too!

Oya run along
Re: Digital Agriculture Investment platforms/options in Nigeria by Sugar97(f): 7:57pm On Mar 05
Petyprince:
[s][/s] Sharrap stop acting like depressed Lesbian criminal. I'll be watching you closely.

How are you on this thread with so many serious minded people? Oga I said run along na, that can't be too hard abeg

5 Likes

Re: Digital Agriculture Investment platforms/options in Nigeria by DrAkpa: 7:59pm On Mar 05
Petyprince:
It seems you just bought a Tecno phone and it's making you misbehave right!! Continue supporting a criminal you will arrested too!
Re: Digital Agriculture Investment platforms/options in Nigeria by Oy777: 8:01pm On Mar 05
Farmfunded(RICHFIELD) has promptly paid me without me calling them even before 15th that my farm is due. Give them a shout.

2 Likes

Re: Digital Agriculture Investment platforms/options in Nigeria by Sugar97(f): 8:07pm On Mar 05
Petyprince:
[s][/s]I said Sharrap and remain mute. I blame your banker gay bf for allowing you come on here with that Tecno phone he bought for you. I will keep you in your place soon Fraudster.

You are clearly demented. I should have realised this earlier

6 Likes

Re: Digital Agriculture Investment platforms/options in Nigeria by Treasuredvessel: 8:07pm On Mar 05
Nusah09:


Thanks
You're welcome and thanks for registering with my link.

2 Likes

Re: Digital Agriculture Investment platforms/options in Nigeria by DrAkpa: 8:07pm On Mar 05
Petyprince:
I said Sharrap and remain mute. I blame your banker gay bf for allowing you come on here with that Tecno phone he bought for you. I will keep you in your place soon Fraudster
.

1 Like

Re: Digital Agriculture Investment platforms/options in Nigeria by Petyprince: 8:12pm On Mar 05
Sugar97:


You are clearly demented. I should have realised this earlier

mynd44 lalasticlala seun Justwise

Rule 2

Please take this person to jail

2 Likes 1 Share

Re: Digital Agriculture Investment platforms/options in Nigeria by Petyprince: 8:15pm On Mar 05
Sugar97:


You are clearly demented. I should have realised this earlier
You just defined yourself but don't worry help is on it's way. I'm not the cause of your frustration.

1 Like 1 Share

Re: Digital Agriculture Investment platforms/options in Nigeria by Sugar97(f): 8:26pm On Mar 05
Petyprince:


mynd44 lalasticlala seun Justwise

Rule 2

Please take this person to jail

Lol. You called me a depressed lesbian criminal plus fraudster and then report me for calling you demented?
How pathetic can you be?

5 Likes 1 Share

Re: Digital Agriculture Investment platforms/options in Nigeria by Petyprince: 8:49pm On Mar 05
Sugar97:


Lol. You called me a depressed lesbian criminal plus fraudster and then report me for calling you demented?
How pathetic can you be?
I believe you're a graduate and you did GST 101. Why do you find English difficult!!
I said stop acting like a depressed Lesbian criminal.
Lemme enlighten you, that was an advice and not insult.
As for calling you a criminal and a Fraudster. It's only criminals that support criminals.
For supporting a criminal your also a criminal.
You and your likes come on Nairaland to steal from peaceful investors.
I'm here to see that you do not harm peaceful Citizens, I will be watching you closely.

1 Like 1 Share

Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 8:54pm On Mar 05
BianuBianu:
Please who can explain the mail below from Crowdyvest in plain English

Welcome to Crowdyvest
Tope Omotolani Appointed as the New CEO of Crowdyvest

Onyeka Akumah Steps Down

We are pleased to inform you that Tope Omotolani who is the Managing Director and Co-founder of Crowdyvest has been appointed as the new CEO as Onyeka Akumah steps down. This new development enables Onyeka to focus on the expansion of Farmcrowdy and PlentyWaka.

We are especially excited to be making this announcement on International Womens’ week as our new CEO joins the other exceptional women in Leadership positions all over the world.

It is very important to note that there is no change in the management and staff of Crowdyvest, however, we will no longer be a part of the EMFATO Holdings Group and we will transition from our previous crowdfunding model to a registered cooperative structure.

We have acquired a Cooperative License from the Lagos State government which would enable Crowdyvest to promote the economic interest of its members by encouraging periodic and regular savings, and providing access to investment opportunities with a view to building up funds for their individual futures.

Our current focus will be on our Savings products namely Flex, Vault, Pace and Flex USD and other investment opportunities will strictly be for members of our registered cooperative. All individuals currently signed up on our platform automatically become members and are not required to do any other thing.

Kindly note that all previous sponsorships will be completed in the agreed time frame and payouts will be made accordingly. Please be rest assured that your funds are safe.

Thank you for the journey so far and we look forward to your continued support as we create financial solutions to achieve your short and long term goals while facilitating impactful growth in line with the United Nations sustainable development

Copyright © 2021 Crowdyvest
tunene:
I am not surprised these guys are exiting crowdfunding for good. Such regulation limiting companies to NGN1bln per year is not progressive at all. It shows the regulator do not even understand the volume of money in this space. How much is N1bln for such big companies? These are monies the like of Agropartner raise in 1 round not to imagine 1 year.
Anyway, let's see how it pans out.


I really don't like this plan by Crowdyvest to become a cooperative. I mean, here we all are after waiting for months for some sort of regulation of the agritech/crowdfunding space. We had previously appealed to agritechs to be transparent and responsible with investors' funds, but they mostly didn't refused to do that. Then when the first draft of regulations arrives, Crowdyvest decides to morph into a cooperative company instead, thus escaping the new regulations. At the very least, this now means that they will no longer be promising investors/their members a predefined ROI: what you get at the end of the year is what you get. Furthermore, these questions are heavy on my mind:
- Do the cooperative laws in Nigeria demand the same type of transparency that these new SEC guidelines demand?
- Do they require that a trusted intermediary exist that vets companies on behalf of investors?
- What are the limits, if any, on how much a cooperative can raise in a year?

Who knows answers to these? Cc theAccountant, stilldrift, MummyIMadeIt, MrMcJay, tunene, Acidosis, lax95, benedictuyi, Alkalosis and everyone. Because the answers to these will determine whether we can say they are trying to avoid heavy-handed regulation or are simply trying to avoid being transparent and answerable to investors.
Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 8:56pm On Mar 05
stilldrift:


It has been stated earlier that no new policy comes out perfect. Instead, it has to go through several iterations to get there.

Crowdyvest restructuring to a cooperative model doesn't exempt them from laws. Just like every financial sector working in a centralised system, there are also laws governing the cooperative circle.

For their other subsidiaries under Emfato like Farmcrowdy and Plenty Waka, I believe the business model is still crowdfunding until they change those too.

Really, I don't care if these guys restructure into a bank or an insurance company as long as whatever sector they are restructuring to is regulated and not a free-for-all affair.

I don't believe the present SEC regulation is the final be all; it's a work in progress. So, while we may clamour for a more inclusive and robust set of rules, I believe the more important thing is to start first with what we have. The rest will come later

Yes I do believe that starting with this first iteration of the regulations is the way to go.
Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 9:10pm On Mar 05
Oy777:
Farmfunded(RICHFIELD) has promptly paid me without me calling them even before 15th that my farm is due. Give them a shout.
Farmfunded? The same one that has defaulted and is busy making promises about how it will repay investors based on their net-worths?

And when did they become known as Richfield?

Thanks.

2 Likes

Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 9:22pm On Mar 05
Meanwhile, who else has seen Farmcenta's mail on the steps they have taken and intend to take in order to comply with the SEC's crowdfunding guidelines? Their report looks good to me. I will be looking forward to them fulfilling all the requirements by the April 21 (i.e 3 months from January 21, 2021) deadline.

Let the wheat be permanently separated from the chaff. Enough of all this drama abeg.
Re: Digital Agriculture Investment platforms/options in Nigeria by stilldrift: 11:02pm On Mar 05
enigmatique:
Meanwhile, who else has seen Farmcenta's mail on the steps they have taken and intend to take in order to comply with the SEC's crowdfunding guidelines? Their report looks good to me. I will be looking forward to them fulfilling all the requirements by the April 21 (i.e 3 months from January 21, 2021) deadline.

Let the wheat be permanently separated from the chaff. Enough of all this drama abeg.

Yes, I have seen the farmcenta report which is not as in-depth as I expected. They talked about their new investment/savings platform and my question is,

"Do they want to be both an intermediary and a fundraiser at the same time by running both centavest and farmcenta?"

Because that's something SEC is trying to checkmate. We can't have Buhari as executive, legislative and judiciary at the same time.

We need a separation of roles for proper checks and balances.

Just my humble opinion

2 Likes

Re: Digital Agriculture Investment platforms/options in Nigeria by stilldrift: 11:16pm On Mar 05
enigmatique:



I really don't like this plan by Crowdyvest to become a cooperative. I mean, here we all are after waiting for months for some sort of regulation of the agritech/crowdfunding space. We had previously appealed to agritechs to be transparent and responsible with investors' funds, but they mostly didn't refused to do that. Then when the first draft of regulations arrives, Crowdyvest decides to morph into a cooperative company instead, thus escaping the new regulations. At the very least, this now means that they will no longer be promising investors/their members a predefined ROI: what you get at the end of the year is what you get. Furthermore, these questions are heavy on my mind:
- Do the cooperative laws in Nigeria demand the same type of transparency that these new SEC guidelines demand?
- Do they require that a trusted intermediary exist that vets companies on behalf of investors?
- What are the limits, if any, on how much a cooperative can raise in a year?

Who knows answers to these? Cc theAccountant, stilldrift, MummyIMadeIt, MrMcJay, tunene, Acidosis, lax95, benedictuyi, Alkalosis and everyone. Because the answers to these will determine whether we can say they are trying to avoid heavy-handed regulation or are simply trying to avoid being transparent and answerable to investors.

Do the cooperative laws in Nigeria demand the same type of transparency that these new SEC guidelines demand?

Co-ops are expected to do and submit their annual reports but only at state level. There's no stipulation that makes those reports open to the members. For, that reason, I will say that the new SEC regulation for crowdfunding is more transparent IMO

- Do they require that a trusted intermediary exist that vets companies on behalf of investors?

Not specified. I believe due diligence falls under the purview of the society and its members. Good thing is that co-op members have the power to vote in and vote out officials of the society's management committee.

- What are the limits, if any, on how much a cooperative can raise in a year?

None. But individual members are not expected to own more than 1/5 or 20% of the share value of a particular society.

Just found a link to the Nigerian Co-operative Societies Act if you want to read the whole thing.

https://nlipw.com/nigerian-co-operative-societies-act/

4 Likes

Re: Digital Agriculture Investment platforms/options in Nigeria by pinkkystel(f): 12:38am On Mar 06
Richfield is farmnow and not farmfunded. Guess she made an error in the name.
enigmatique:

Farmfunded? The same one that has defaulted and is busy making promises about how it will repay investors based on their net-worths?

And when did they become known as Richfield?

Thanks.
Re: Digital Agriculture Investment platforms/options in Nigeria by pinkkystel(f): 12:40am On Mar 06
Richfield is Farmnow and not Farmfunded
Oy777:
Farmfunded(RICHFIELD) has promptly paid me without me calling them even before 15th that my farm is due. Give them a shout.
Re: Digital Agriculture Investment platforms/options in Nigeria by Petyprince: 1:07am On Mar 06
joey150:


I'm not crying for Requid. Last I checked, all of us are still being owed for the same thing.


And stop repeating what I already said. I just said people have a right to react the way they do.

However, some of you are crying to others, for not crying like you.


My last say on this matter sha. Man's got better things to do than bicker over this.

Re: Digital Agriculture Investment platforms/options in Nigeria by QuinModah(f): 1:33am On Mar 06
Oy777:
Farmfunded(RICHFIELD) has promptly paid me without me calling them even before 15th that my farm is due. Give them a shout.
Don't invest again unless nyou want to cry before Easter

2 Likes 1 Share

Re: Digital Agriculture Investment platforms/options in Nigeria by semmyk(m): 9:05am On Mar 06
Flowing water will follow a path of least resistance. Whether that is the best or the optimal, or the shortest or longest, or the appropriate or expected, or the ..., those are converse that should and can take place.
Just a quick note; without #Intermediary and #Trustee, Crowdyvest might just be a cooperative that invests in its investments'!

Let's keep conversation going. Thanks everyone.

stilldrift:

Do the cooperative laws in Nigeria demand the same type of transparency that these new SEC guidelines demand?

Co-ops are expected to do and submit their annual reports but only at state level. There's no stipulation that makes those reports open to the members. For, that reason, I will say that the new SEC regulation for crowdfunding is more transparent IMO

- Do they require that a trusted intermediary exist that vets companies on behalf of investors?

Not specified. I believe due diligence falls under the purview of the society and its members. Good thing is that co-op members have the power to vote in and vote out officials of the society's management committee.

- What are the limits, if any, on how much a cooperative can raise in a year?

None. But individual members are not expected to own more than 1/5 or 20% of the share value of a particular society.

Just found a link to the Nigerian Co-operative Societies Act if you want to read the whole thing.

https://nlipw.com/nigerian-co-operative-societies-act/
tunene:
I am not surprised these guys are exiting crowdfunding for good. Such regulation limiting companies to NGN1bln per year is not progressive at all. It shows the regulator do not even understand the volume of money in this space. How much is N1bln for such big companies? These are monies the like of Agropartner raise in 1 round not to imagine 1 year.
Anyway, let's see how it pans out.
enigmatique:

I really don't like this plan by Crowdyvest to become a cooperative. I mean, here we all are after waiting for months for some sort of regulation of the agritech/crowdfunding space. We had previously appealed to agritechs to be transparent and responsible with investors' funds, but they mostly didn't refused to do that. Then when the first draft of regulations arrives, Crowdyvest decides to morph into a cooperative company instead, thus escaping the new regulations. ...
Furthermore, these questions are heavy on my mind:
- Do the cooperative laws in Nigeria demand the same type of transparency that these new SEC guidelines demand?
- Do they require that a trusted intermediary exist that vets companies on behalf of investors?
- What are the limits, if any, on how much a cooperative can raise in a year?
Re: Digital Agriculture Investment platforms/options in Nigeria by semmyk(m): 9:19am On Mar 06
As I've expressed in Jan/Feb, some of these AgriTech started with 'vest' mostly in 2020 in preparation for SEC.
They are not the only one that does similar. In corporate, you'll see Holding company, with divers (separate) companies and subsidiaries!
Ditto, Auditing firms with Audit practice and advisory and even (solutions) consulting!!

stilldrift:

Yes, I have seen the farmcenta report which is not as in-depth as I expected. They talked about their new investment/savings platform and my question is,
"Do they want to be both an intermediary and a fundraiser at the same time by running both centavest and farmcenta?"
Because that's something SEC is trying to checkmate. We can't have Buhari as executive, legislative and judiciary at the same time.

We need a separation of roles for proper checks and balances.
Just my humble opinion
enigmatique:
Meanwhile, who else has seen Farmcenta's mail on the steps they have taken and intend to take in order to comply with the SEC's crowdfunding guidelines? Their report looks good to me. I will be looking forward to them fulfilling all the requirements by the April 21 (i.e 3 months from January 21, 2021) deadline.
Let the wheat be permanently separated from the chaff. Enough of all this drama abeg.
Re: Digital Agriculture Investment platforms/options in Nigeria by Aizenosa(m): 9:55am On Mar 06
joyce777:
Please has anyone been paid by foxygreen for the meat production project which expired on the 4th of this month? I haven't been paid yet.

Chat them up on whatsapp, it's unlike Foxygreen to default

1 Like

Re: Digital Agriculture Investment platforms/options in Nigeria by westliverenterp: 10:54am On Mar 06
cry
Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 10:58am On Mar 06
stilldrift:


Yes, I have seen the farmcenta report which is not as in-depth as I expected. They talked about their new investment/savings platform and my question is,

"Do they want to be both an intermediary and a fundraiser at the same time by running both centavest and farmcenta?"

Because that's something SEC is trying to checkmate. We can't have Buhari as executive, legislative and judiciary at the same time.

We need a separation of roles for proper checks and balances.

Just my humble opinion

Yes I agree that they can't be both the intermediary and the fundraiser under the new guidelines. So let's see how they will try to structure this new Centavest.
Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 11:00am On Mar 06
stilldrift:


Do the cooperative laws in Nigeria demand the same type of transparency that these new SEC guidelines demand?

Co-ops are expected to do and submit their annual reports but only at state level. There's no stipulation that makes those reports open to the members. For, that reason, I will say that the new SEC regulation for crowdfunding is more transparent IMO

- Do they require that a trusted intermediary exist that vets companies on behalf of investors?

Not specified. I believe due diligence falls under the purview of the society and its members. Good thing is that co-op members have the power to vote in and vote out officials of the society's management committee.

- What are the limits, if any, on how much a cooperative can raise in a year?

None. But individual members are not expected to own more than 1/5 or 20% of the share value of a particular society.

Just found a link to the Nigerian Co-operative Societies Act if you want to read the whole thing.

https://nlipw.com/nigerian-co-operative-societies-act/

I see. Well that just makes makes me as a person to further regard Crowdyvest's switch as an unimpressive choice.
Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 11:00am On Mar 06
pinkkystel:
Richfield is farmnow and not farmfunded. Guess she made an error in the name.

Ah I see. No problem then.
Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 11:04am On Mar 06
semmyk:
As I've expressed in Jan/Feb, some of these AgriTech started with 'vest' mostly in 2020 in preparation for SEC.
They are not the only one that does similar. In corporate, you'll see Holding company, with divers (separate) companies and subsidiaries!
Ditto, Auditing firms with Audit practice and advisory and even (solutions) consulting!!



Well I don't think that merely creating a holding company will satisfy the guidelines' requirement for the fundraiser and intermediary to be separate, INDEPENDENT entities that have no conflicts of interest in handling investors' funds. Thus I think those new "vest" companies have to do and be more than a subsidiary, sibling or holding company.
Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 11:06am On Mar 06
semmyk:
Flowing water will follow a path of least resistance. Whether that is the best or the optimal, or the shortest or longest, or the appropriate or expected, or the ..., those are converse that should and can take place.
Just a quick note; without #Intermediary and #Trustee, Crowdyvest might just be a cooperative that invests in its investments'!

Let's keep conversation going. Thanks everyone.




Yes time will tell what this transition for Crowdyvest itself (e.g access to funds from the crowd) and we the investors.

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