Katlyst:



Any update about payment from Shopagric?

tipsy
PerfectMatchNG
Whaless
temi4fash

ajaolu:


It's so relieving now that we've come to the realization that they have no intention to pay their investors a dime unless by forceful means via the unity of all.

They said in their statement that paying everyone now will eat deep into their working capital so they want to use investors money to run their business for so many years and start paying then which I'm sure will even never happen cos they'll give another bunch of excuses again when that time comes. This is crystal clear from a very close observation of their tricks of making promises and deadlines and failing to meet up repeatedly.

They are even yet to explain the main reason for defaulting as it is intentional. All they keep on saying is SEC has new guidelines for crowdfunding. If that's the case and you want to stop crowdfunding then why did you default four (4) whole cycles including those that have matured even before SEC's guidelines and also why can't you just return back investors money if you can't continue? It is now obvious that they are just staging a well planned script.

THE ONLY MEANS OF RECOVERING FUNDS FROM FARMSPONSOR IS TO MAKE THEM USE THEIR SO CALLED WORKING CAPITAL FOR THE PAYMENTS AND ALSO SELLING THEIR ASSETS IF NEED BE.

It is insane to want only the investors to suffer for their own intentional acts and wickedness while they have no responsibility at their end whatsoever.

A public telegram group has been created for this course; Just search for "Farmsponsor Investors Reclaim" on Telegram and join.

It is a victory battle already!

Treasuredvessel:
Kenfarms has started paying those who invested between August to December 2020. It's a good sign,I got paid yesterday, will patiently wait for phase 2 and 3.The investor reps did a good job,and it also looks like the CEO has some form of integrity.

nicestlady:
But why apply for refund? Isn't it better to sell the land? Or is it impossible to sell?

israelboy1:
from farmsponsor.

toyeenb:


Have join the group. I encourage every one that has an investment with dafaulting farmspnosor to join this group and let form a strong force to fight farmspnosor for hard investment money. Farmspnosor is very wicked and want us scam of our investment meant matured I'm three later prostone to six month also extend to Nine month and NOW to years. We need to united and fight for our money with all availabe resource. Please join this group on telegrams: FARMSPONSOR INVESTORS RECLAIM

MummyIMadeIt:


Their is already a group seekn legal option already on telegram

ajaolu:


Alright, good. Then kindly provide the group's name so people can join to know the progress and to render any help if need be.

We an also merge the two groups easily if you provide the group's link in the other group for people to join easily. Thanks.

Bcpump:


No one should fall for this.
Only repaying to get people to invest in their new ones.


I pity any human being still investing in agro

Bcpump:


No one should fall for this.
Only repaying to get people to invest in their new ones.


I pity any human being still investing in agro

Treasuredvessel:

I don't think they have any new farms open now,anyone who goes ahead to invest with all that's been going on is on their own, I'm only stating that they've started paying some people.

Bcpump:


See the email they sent below and tell me they are not planning on opening new farms


[s]Dear Investor,



APPRECIATION

We would like to express our appreciation for the level of understanding that we have enjoyed from you over the course of the past few months, as we work our way through the current situation.



Our appreciation also goes to members of the team who made the trip down to Ilorin, Kwara State for an on-site assessment. The team was able to see our farm locations, operations, and also our books. We hope that the visit has also helped to bolster investors’ confidence by showing that we still have full control of the situation, learnt our lesson and we are willing to do our best in paying back all outstanding payments in spite of all that is happening.





THE REASON FOR PAYMENT DELAY

The delay in paying our investors is a result of two key factors:



The first factor is the SEC regulation of crowdfunding in Nigeria. SEC’s decision made a lot of investors go into a panic mode, leading to massive withdrawals and zero reinvestment. So, we were bleeding funds, without commensurate funds coming in, making it difficult to properly run our farms.



The life cycle of layers is 18 months; however, the fact that our investment run in cycles of 3 months, and we pay interest and capital together. Normally for every pay out we make, our investors reinvest, or new investors come in to fill up the slot. However, the panic withdrawal resulted in a high rate of funds being pulled out with no new fund reinjected.



The second factor is the rise in the production cost of layer feeds. This has been the case because of shortage in supply of maize. Unfortunately, while the cost of production was increasing, the selling price of eggs did not increase at the same proportion because an increase in the price of eggs will lead to a fall in demand, so most layer farms have been experiencing very low profit margins in egg production.



As a result of the two factors, we had to pause payment, in order to save the business from imminent collapse due to lack of operating capital.





PAYMENT OF OUTSTANDING ROI

As we begin to find our feet again, we have begin repayments from 1st of September, 2020. Payments are structured to be in three batches starting with investments that were made from

August 2020 to December 2020 after which Investments that commenced from

January 2021 to march 2021 will be treated next and the last batch from

Match 2021 to July 2021.


If you fall into the first batch, you can login to your account to place for withdrawal.





NEW OPPORTUNITIES

As we navigate our way through this, we have had to pivot our focus from eggs to broiler production. Broiler production has consistently maintained a better profit marg




Kenny Afolabi

CEO


KenFarms

goody234:
whats the story with agrilet are they paying ...i have money due this month ..

Greenvaiper:


This one done miss road

MummyIMadeIt:


what is the latest from them

olystic:
[/s]

All these ppl get mind sha

Onajobs:

How U wan take make am for business if U no get mind?

Onajobs:

How U wan take make am for business if U no get mind?

HOcorninvestor:
Sad to see how the people of this country love to eat off their fellow peoples plate. No sense of conscience. Glad I pulled out all my investments a few years ago and left this country. Only if your own people will get their act together, will this country find their footing. Else its heading for a total disaster and civil chaos. God bless all those of you who are stuck and try to find ways to get out and never deal with your own fellow people again.

MummyIMadeIt:
NOTE * stands for new/latest changes
On 2nd September 2021 18:13 hrs

Updated List of agrictech by Nairalanders and their ratings.



FARMS HAVING MET SEC STANDARD:

*None*

---

List of Old farms Still Performing:

1. Agrorite
2. Ezfarming
3. Farmcenta

---

*List of Farms with New Model*

1.Agro partnership (Microfinance Banking)
2. CrowdyVest (Sec in Process + Corporative optional)
3. ThriveAgric(Institutional)
4. Farm4me/Ceepass/ViableX (Digital Agric Microfinance Bank)

---

List of New farms under Observation for now includes:

1. Farmnow
2. Farmtrove
3. DivaRice

---

List of those with issues for now includes:

1. Goatmeathq (defaulted in paying capital and ROI)
2.Selemafarms (delaying payments for months)
3.Goatti (delaying capital + Roi for months)
4.Groupfarma (delaying payments for 3months)
5.FarmFundsAfrica (delaying payments for months for 2 farm cycles)
6.Bazuze (delaying 60% payments for 8 months)
7.ChubiAgro (delaying payments for months)
8.Agrilet(delaying payment for months)
9.Kenfarms(Corporative + Yearly Locked funds compulsory + Delaying payments for weeks)
10.Eatrich (Delaying payments for months)
11.Titan farms (Delaying payments for weeks)
12.Shopagric (Delaying payments for weeks)
13.Foxygreen(Corporative + Delaying payments for Months)
14.Farm360(Institutional+Witholding funds for 3 months+ Yearly locked funds)
15.Emeraldfarms(Sec in Progress+Yearly Locked funds Optional + Paying Only ROI)
16.WestAgro (delaying payments for months)

---

[b]
List of those under critical watchlist includes:

1. Winichfarms (Suspected scam)
2. Efarms (Suspected scam)
3. Diaryfarms (suspected scam)
4. Tusherfarms (suspected scam)
5. Farminvest (suspected scam)
6. AgriBuisnessCapital (suspected scam tech by Menorah Farms)
7. Housefood.Africa ( suspected scam tech by MadakiAgro)
8. Agropark (suspected scam)
9.Iscomfarms (suspected scam)
10.DiaryFarmsInvestment(suspected scam)
11.Letsfarm (suspected scam)
12.ClickFarmsNg (suspected scam)
13.Agreecourse (Suspected scam)
14.HOCorn (Suspected scam)
15.ZionVest (Suspected scam)
16.GreenEaglesAgricBuis (Suspected scam)
17.Abadini (Suspected Scam)
18.RequidJV (Suspected Scam)
19. Farmkonnect (Suspected scam)
20.Gold+Vest (Suspected scam)
21.SGLfarms (Suspected scam)
22.Greenfold (Suspected scam)
23.Nigeria Farmer's Group and Coperative Society(NFGCS) aka Ga'atevest (Suspected scam)
24.Payfarmer (Suspected scam)
25.Farmfunded (Suspected scam)
26.Farmbuddy(Suspected scam)
27.*Farmsponsor/VestPay(Suspected scam)*
[/b]

---

List of those declared serial defaulters aka MMM Ponzi scheme:

1. Growcrops online (serial defaulters)
2. Grandeur solicitors (serial defaulters)
3. Abiyamofarm (serial defaulters)
4. MadakiAgro (serial defaulters)
5. Menorahfarms(systematic defaulters)
6. Pork+Money (Opened another outlet Pay+monthly+cars=confirmed defaulters)
7.FarmTISA (Opened by member of HOCorN an alleged scam product)
8.CashcowNg (serial defaulters)
9.Farmagric (serial defaulters)

---

List of Farms back after suffering setback(s) includes:
1.Farmkart (back after delayed payments for 3-4 weeks)

---

Cavet Emptor:

This is solely based on recent performances as attested to by Nairalanders and by no means a go ahead order/permit to invest with any of the above agrictech firms, hence further investigation should be carried out by the investor using SEC compliance status quo until convinced otherwise.

Yours humble Investor


^{Please assist yours faithfully with a job.
Thanks}

UDK:
Just to raise the red flag that I am yet receive my payment from FARMCENTA that was due since 27th of August. I was initially contacted and asked to exercise a little patience and that I will receive my payment before the end of last week but they were unable to make the payment. They have asked once again to be given till the end of this week and I will be waiting till Friday before activating the next line of action towards getting my money. I pray that they fulfill their obligations by end of the week.

Cjbros:
Plz
Any info on farm4me?
Are they still paying?

ycmdng:
Kenfarm just credited me with the withdrawal i initiated before the holdup.

Hommolarah:





People need to be wary of Titan Farms. I am yet to be paid my money for over several weeks now with failed promises. I need my MONEY!