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Digital Agriculture Investment platforms/options in Nigeria - Investment (743) - Nairaland

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Re: Digital Agriculture Investment platforms/options in Nigeria by Dramadiddy(m): 9:52pm On Jul 02
CountVersailles:

There is not one agrictech company that is still functioning right now. Not one. Even the almighty Farmcrowdy's gone to the dirt.
very sad indeed

3 Likes

Re: Digital Agriculture Investment platforms/options in Nigeria by Resurgent2016: 12:09am On Jul 03
dogmart:


cheesy Nice and interesting. Since we are learning, and you must know certain things which I may not know, Please kindly cite some examples of Fraudulent startups which VCs have funded.

That would prove your point.
Thank you.

Chief early stage funding is largely based on your ability to sell a concept sometimes backed by a pilot project which is often heavily loss making but you try to create a spin around being able to break-even on scaling or with time. In fact pre-seed companies essentially sell ideas with often no real proof-of-concept.

The $1m that was invested for many big VC/PE funds is chicken change and they esssentially have a diversified portfolio with high rate of redundancies already built in. So they can afford to take the high road on a convincing pitch deck even without any real proof of concept because if successful they can do as much as ×100 in capital appreciation in a few years...if they are targetinh x100, they only need 1 in 100 firms to deliver on their expectation to break even

1 Like

Re: Digital Agriculture Investment platforms/options in Nigeria by Resurgent2016: 12:15am On Jul 03
Theranos raised over $1billion in early stage funding without a vetted MVP right in the heart of start up country (silicon valley)....and there are many others like that

https://www.google.com/amp/s/news.sky.com/story/amp/elizabeth-holmes-former-chief-executive-of-blood-testing-startup-theranos-found-guilty-of-fraud-12508609

1 Like

Re: Digital Agriculture Investment platforms/options in Nigeria by Freethinker87: 5:05am On Jul 03
goody234:


Very intresting i suspect they are playing hide and seek ....they are due to pay some money this month, so they say for investments they are very quiet no email as to when payments will be made etc ...we are not dumb agropartnership its time you pay up

They're preparing the ground for a legal battle. I assure you that they have no intention of paying their investors.
Re: Digital Agriculture Investment platforms/options in Nigeria by Tikobanidi: 7:35am On Jul 04
A beg, has anyone been paid by the CEO of Adama Group. He promised to be paying those who invested in Farm4me/Ceepas/Viablex at the last week of every quarter, starting from the last quarter that ended last week.
Re: Digital Agriculture Investment platforms/options in Nigeria by Dramadiddy(m): 10:02am On Jul 04
Tikobanidi:
A beg, has anyone been paid by the CEO of Adama Group. He promised to be paying those who invested in Farm4me/Ceepas/Viablex at the last week of every quarter, starting from the last quarter that ended last week.
scammer is promising you and you believe? Someone that is buying time to escape
Re: Digital Agriculture Investment platforms/options in Nigeria by Abokiherbal: 1:38pm On Jul 04
dogmart:


Smiles. I will tell u this as a fact, Some had good intentions but still found themselves incapable to pay.

U only need to do the maths, then u will realise how they got themselves into the mess.

Yes a good number of them had no plan whatsoever, and were only in the game to defraud people. But for companies like thriveagric, crowdyvest etc which had solid structures and even external fundings, believe me they had a long term solid plan. Yet they ended up failing when SEC dropped the sledgehammer.

Truth be told they were biting much more than they could chew and weren't being truthfully. How will u raise hundreds of millions of naira for a farm investment and in less than a month u are calling for another round of investment for another farm.
Who does that?

Let's call a spade a spade,
Do u think it is 100% feasible to get 40% profit from broiler production every 3months without fail?
considering the fact u will stock Day old chicks, brood and fatten, slaughter and process, market hundreds of thousands of the birds . All in 3 months?
Even if nothing fails in the production line, are we forgetting the fact that market has to be created? There is no void anywhere. I remember seeing where some people commented that Farm sponsors were selling frozen chicken in units to interested individuals. That for example is how difficult it is to sell at a good price. It takes time and efforts.
If u want to sell tonnes of frozen chicken in a day you can, but it will be at low prices. U would be selling to people who have the facility to store and market them.

Telling people they can give them 30-40% return on their investment in 3-4months was all simply a lie.

Good analysis man. I learnt some business lessons from it.
Re: Digital Agriculture Investment platforms/options in Nigeria by goody234: 6:09pm On Jul 04
Freethinker87:


They're preparing the ground for a legal battle. I assure you that they have no intention of paying their investors.
I knew that it is why I have an ace up my sleeve …Agropartnership ppl will be begging when I finish with them ..
Re: Digital Agriculture Investment platforms/options in Nigeria by Freethinker87: 7:14pm On Jul 04
goody234:

I knew that it is why I have an ace up my sleeve …Agropartnership ppl will be begging when I finish with them ..

Godspeed. I didn't invest with them actually. My row is with Farmfunded and I'll get my pound of flesh even if it takes 20 years.

1 Like

Re: Digital Agriculture Investment platforms/options in Nigeria by Lamorigogo: 9:58am On Jul 11
Please Who has Agropartnership functional phone number and email address? Pls assist me
Re: Digital Agriculture Investment platforms/options in Nigeria by Freethinker87: 4:00pm On Jul 11
FarmFunded CEO Joshua Ajisope Threatens to Sue Investor Asking for His N3m

https://fij.ng/article/farmfunded-ceo-joshua-ajisope-threatens-to-sue-investor-asking-for-his-n3m/
Re: Digital Agriculture Investment platforms/options in Nigeria by martin123: 5:12pm On Jul 13
Lamorigogo:
Please Who has Agropartnership functional phone number and email address? Pls assist me

info@agropartnerships.com
Re: Digital Agriculture Investment platforms/options in Nigeria by Freethinker87: 5:22pm On Jul 13
martin123:


info@agropartnerships.com

Another way to check if a domain is intentionally parked is to test the RCPT protocol of the email address.

As you can see grin

Website get technical problem but email wey dey attached to website dey work. No be juju be that?

1 Like

Re: Digital Agriculture Investment platforms/options in Nigeria by somehow: 9:11pm On Jul 13
Freethinker87:


Another way to check if a domain is intentionally parked is to test the RCPT protocol of the email address.

As you can see grin

Website get technical problem but email wey dey attached to website dey work. No be juju be that?

I thought the website is working? Actually logged in few days ago.
Re: Digital Agriculture Investment platforms/options in Nigeria by Freethinker87: 9:29pm On Jul 13
somehow:


I thought the website is working? Actually logged in few days ago.

grin Look at the website again. Did you see anything different?
Re: Digital Agriculture Investment platforms/options in Nigeria by goody234: 1:44pm On Jul 16
Freethinker87:


grin Look at the website again. Did you see anything different?

They are being crafty we all know they are covering up their fraud !! What your seeing is just a widow ,behind it is absolutely nothing ...Agropartnership said they will be paying from july ...nothing coming out from them telling us when payments will commence ..

They better hide because what is going to befall them let me not say more !!
Re: Digital Agriculture Investment platforms/options in Nigeria by somehow: 3:04pm On Jul 16
14 days more to the end of July.

Failure to pay destroys whatever 'grace' they are enjoying for now.
Re: Digital Agriculture Investment platforms/options in Nigeria by hustla(m): 5:44pm On Jul 16
somehow:
14 days more to the end of July.

Failure to pay destroys whatever 'grace' they are enjoying for now.

grin
Re: Digital Agriculture Investment platforms/options in Nigeria by Petyprince: 3:57am On Jul 23
Freethinker87:


No, they are not. Their website (www.agropartnerships.com) is still parked. They're trying to be clever by half by redirecting their .com TLD to another domain suffix .co. It's a desperate move to calm investors while hiding credible data from law enforcement.
One thing these guys should understand is that there's no such thing as privacy on the internet.
Even if you erase a website, there'll still be snippets of metadata all over the place and a good Tech can piece them all together.

I can tell you for free that on June 23, 2022, at exactly 11:34:23, www.agropartnerships.com executed a URL redirect to www.agropartnerships.co. For those not familiar with IT, there is no way you can execute this action from outside www.agropartnerships.com so therefore, www.agropartnerships.com is live but intentionally parked.
Shey when I told you people of how they will all end 2 years ago. u guys called me names!!

2 Likes 1 Share

Re: Digital Agriculture Investment platforms/options in Nigeria by martin123: 4:51am On Jul 25
Today is 25th of July, and we haven't seen or heard anything from Agropartners. I hope they don't want to see violence? They nolonger take calls, no reply to emails, shutdown their office. One thing they should know is that we know some of their workers and where they live. I think I have been patient enough, I am about to take laws in to my hands and I hope no one will blame me.....
Re: Digital Agriculture Investment platforms/options in Nigeria by hustla(m): 7:01am On Jul 25
martin123:
Today is 25th of July, and we haven't seen or heard anything from Agropartners. I hope they don't want to see violence? They nolonger take calls, no reply to emails, shutdown their office. One thing they should know is that we know some of their workers and where they live. I think I have been patient enough, I am about to take laws in to my hands and I hope no one will blame me.....

They have nothing to offer
Re: Digital Agriculture Investment platforms/options in Nigeria by justinbravo: 1:18pm On Jul 26
Does anyone know how to go after these guys to get money back, maybe form a group or something, they're silent because they are running after stealing people's funds.
Re: Digital Agriculture Investment platforms/options in Nigeria by martin123: 3:18pm On Jul 26
This is the message I just got from them. I now believe we,ve been scammed


Dear Agropartner
We want to thank you for your support during this difficult time. We understand the inconveniences our delayed payments might have caused you and we do not take your patience for granted.

Since our last communication, we have been working diligently to ensure our obligations to you are met. As you may have read in the media, on March 14, 2022, our offices were sealed and a hold was placed on our bank accounts. We assure you that Agropartnerships operates with the highest ethical standards and are cooperating with various regulatory bodies to ensure all on-going assessments proceed smoothly. As an organization built on integrity, we appreciate and support the mandate of all regulators in Nigeria and are confident that all concerns will be critically examined and promptly resolved.

In the meantime, with an understanding of the urgency for payouts, we will continue to work intensely, doing all we can to ensure every pending issue is settled, after which, schedules would reflect on your dashboard and shortly after, payments will commence.

Thank you for your understanding.

Management
Re: Digital Agriculture Investment platforms/options in Nigeria by Myahuza: 7:02pm On Jul 26
Just like all the defaulted companies that came before and refused to pay this too will come to pass with out any investor receiving any Kobo

1 Like

Re: Digital Agriculture Investment platforms/options in Nigeria by Dramadiddy(m): 11:17pm On Jul 26
Myahuza:
Just like all the defaulted companies that came before and refused to pay this too will come to pass with out any investor receiving any Kobo
ha,
Re: Digital Agriculture Investment platforms/options in Nigeria by goody234: 2:11pm On Jul 30
martin123:
This is the message I just got from them. I now believe we,ve been scammed


Dear Agropartner
We want to thank you for your support during this difficult time. We understand the inconveniences our delayed payments might have caused you and we do not take your patience for granted.

Since our last communication, we have been working diligently to ensure our obligations to you are met. As you may have read in the media, on March 14, 2022, our offices were sealed and a hold was placed on our bank accounts. We assure you that Agropartnerships operates with the highest ethical standards and are cooperating with various regulatory bodies to ensure all on-going assessments proceed smoothly. As an organization built on integrity, we appreciate and support the mandate of all regulators in Nigeria and are confident that all concerns will be critically examined and promptly resolved.

In the meantime, with an understanding of the urgency for payouts, we will continue to work intensely, doing all we can to ensure every pending issue is settled, after which, schedules would reflect on your dashboard and shortly after, payments will commence.

Thank you for your understanding.

Management


They are the biggest scammers agropratnership ...anyway all their ogas will be begging for mercy soon until they pay ..it was a glorified ponzi scheme

1 Like

Re: Digital Agriculture Investment platforms/options in Nigeria by maasoap(m): 8:57pm On Jul 30
dogmart:


Smiles. I will tell u this as a fact, Some had good intentions but still found themselves incapable to pay.

U only need to do the maths, then u will realise how they got themselves into the mess.

Yes a good number of them had no plan whatsoever, and were only in the game to defraud people. But for companies like thriveagric, crowdyvest etc which had solid structures and even external fundings, believe me they had a long term solid plan. Yet they ended up failing when SEC dropped the sledgehammer.

Truth be told they were biting much more than they could chew and weren't being truthfully. How will u raise hundreds of millions of naira for a farm investment and in less than a month u are calling for another round of investment for another farm.
Who does that?


Let's call a spade a spade,
Do u think it is 100% feasible to get 40% profit from broiler production every 3months without fail?
considering the fact u will stock Day old chicks, brood and fatten, slaughter and process, market hundreds of thousands of the birds . All in 3 months?
Even if nothing fails in the production line, are we forgetting the fact that market has to be created? There is no void anywhere. I remember seeing where some people commented that Farm sponsors were selling frozen chicken in units to interested individuals. That for example is how difficult it is to sell at a good price. It takes time and efforts.
If u want to sell tonnes of frozen chicken in a day you can, but it will be at low prices. U would be selling to people who have the facility to store and market them.

Telling people they can give them 30-40% return on their investment in 3-4months was all simply a lie.


They were not biting more than they could chew, it's all scam, it is all ponzi scheme. Forget about the physical structures and visible investments, it was all plots to get "investors" to part with their money.
Re: Digital Agriculture Investment platforms/options in Nigeria by maasoap(m): 9:01pm On Jul 30
Petyprince:
Shey when I told you people of how they will all end 2 years ago. u guys called me names!!

Not only you, many people were here telling them the same thing, including me.

1 Like

Re: Digital Agriculture Investment platforms/options in Nigeria by maasoap(m): 9:10pm On Jul 30
dogmart:


The minute SEC dropped the much awaited strigent regulations, it was only a matter of time for the whole house to come crashing down.

I took my time to read hundreds of pages of this thread starting from page one. I skipped a few, but In the end I got the entire picture.

It is unfortunate that people lost money as a result of these investments. However truth be told, it was only a matter of time.

I smiled as I read people argue and support these companies as if they are part of the members running the companies themselves.

I guess we all know the truth now.

Truth is that every last one of the companies were running a sort of PONZI. Even those who had the huge names and structures and had no intention to defraud investors are not exempted.

Theory is very different from practical, absolutely different! As a practising farmer and Veterinarian I know for certain all the bogus percentages and ROI I saw within those short time frame are almost impossible to achieve. Not without some hitches at certain periods.

Production entails a whole lot of Risks. Not to talk of Production,harvesting, processing , then marketing. 1+1 is not always going to be equals to 2. All these takes time. Time which you cannot just absolutely put a time frame to.

Plants and animals can fall sick. Disasters and crises can hit at any point in time. Yet u still MUST pay ur investors their capital plus ROI in 3,4,5 months.

Sorry to say you all were just playing with fire.

The companies were only using Peter to pay Paul. I.e using new investors money to pay old investors and hoping whatever they invested in will give enough return in years to come to cover all the compounding deficits that were piling up.

Unfortunately SEC broke the camel's back. The minute they could get no new money in, it became impossible to pay old investors.

I truly feel sorry for both the CEOs of the companies and more importantly for the investors who lost their money. Those CEOs who had good intentions are in a mess of their lives already.

I hope we all learnt a thing or 2 from this.

You said it yourself that they were running Ponzi scheme, how could their intentions be good?
Forget SEC, forget story. All those CEOs are now millionaires, they got themselves riches with the investors money. Or, you think that they didn't divert as much capital from the investors as possible before the whole thing crashed? Dey dia be consoling the "CEOs". grin grin grin

4 Likes

Re: Digital Agriculture Investment platforms/options in Nigeria by maasoap(m): 9:15pm On Jul 30
dogmart:


Smiles, calm down brother. There is no need for aggressions. If u will see anyone airing his view as being on a mission, then it must have been serious. Please calm down.

I am only analysing the present issues based on reasoning. I have no stake whatsoever in all of these. Didn't invest a kobo in any. Only came across the thread few weeks ago and started reading.

Understand this, venture capitalists do not invest in fraudulent businesses. So I truly doubt farmcrowdy was setup to scam people. Although in the end they failed woefully and should be bashed. But at least let's get things clear.

Nigeria isn't the only country where crowdfunding is working, and it has been successful in a whole lot of instances.
I think I read somewhere that thrive agric is trying to pay investors that it is owing. I am sure this is only possible because they have a structure in place.

I equally read that farmcrowdy/crowdyvesthad to change to a cooperative society in other to evade the SEC's problem. Although they are still having problems with that.

In the end, get this straight, businesses can either succeed or fail. And the fact that they fail do not nessesarily mean the businessman is a failure or that he is fraudulent. As a businessman I have failed several times and lost money, every successful businessman today has done same.

It is left to us to look critically and learn from our failures and failures of others and not just to judge them.

You sounded like one of them, haba! Why making arguments for what we all know as ponzi scheme?

2 Likes

Re: Digital Agriculture Investment platforms/options in Nigeria by IyaTola: 9:43am On Aug 09
grin
maasoap:


You said it yourself that they were running Ponzi scheme, how could their intentions be good?
Forget SEC, forget story. All those CEOs are now millionaires, they got themselves riches with the investors money. Or, you think that they didn't divert as much capital from the investors as possible before the whole thing crashed? Dey dia be consoling the "CEOs". grin grin grin

1 Like

Re: Digital Agriculture Investment platforms/options in Nigeria by Freethinker87: 10:09am On Aug 09
maasoap:


You said it yourself that they were running Ponzi scheme, how could their intentions be good?
Forget SEC, forget story. All those CEOs are now millionaires, they got themselves riches with the investors money. Or, you think that they didn't divert as much capital from the investors as possible before the whole thing crashed? Dey dia be consoling the "CEOs". grin grin grin

Everyone will have their laugh some day.

1 Like

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