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Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 9:53am On Jul 08
ummitoagirl:
They have paid me 40% of my capital.

Please when did Bazuze pay you your 40%? I am yet to receive mine.

1 Like

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 3:52pm On Mar 10
qtguru:
Has ThriveAgric paid anyone for November payout in Feburary ?
Yes they paid me for the November investment in February 2021.

3 Likes

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 3:33pm On Mar 10
Lexusgs430:



Only 9 days, after FB paid your capital + ROI......... This life no balance at all, at all.......... grin



Some people are still waiting for 9 months +, no capital, no roi.......... cheesy
Lol. 9 days is unacceptable in my opinion especially since they didn't even send me a notification to say "your payout is due oo and we are working on getting it across to you".

These things count. Or why is Emerald not yet in the green section of our list despite operating without hitches for months on end? Isn't it because of failure to pay referrals? Lol.

3 Likes

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 1:08am On Mar 10
Meanwhile, I discovered today that it seems that both Greenfold and Farmbuddy belong to one Butren Investment Limited. That's kinda worrying considering how Greenfold has been performing recently. So who else can google it and see if they indeed both belong to the same company? Here's my source:
https://www.google.com/search?client=firefox-b-d&q=butren+investment
Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 1:02am On Mar 10
I was paid today by Farmbuddy for a farm that was due 9 days ago on February 9th. I am not pleased at all and the only consolation is that I eventually did get my capital and ROI. They really need to improve how automatically and quickly they process payouts. I'm bearish about them.

And I continue to remain bearish about all other agritechs until I see them implement SEC's new guidelines. The deadline is almost here, so fingers crossed.
Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 11:36pm On Mar 07
OpenHeaven2019:
Emerald came through!!!
Yes I got an alert from them this evening for a farm maturing tomorrow. Keep up the good and honest work Emerald!

Now, I return to waiting for the deadline for implementing SEC's guidelines.

1 Like

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 11:12am On Mar 07
tunene:
The answer to your 3 questions is NO. However, cooperative members get to read the annual report of their cooperative unlike crowdfunding that you get a fixed interest and take it like that without knowing the health of your funding company. Indeed, both operate differently. I belong to 2 cooperatives so I know this for a fact.

I like the person who said river follows the path of least resistance. Indeed, crowdyvest took the path of less wahala. Does that make them a bad company, I doubt. What I also can predict is that Farmcrowdy will become active again crowdfunding and collecting money for farm projects. They will serve as intermediary for farmers. These are only my views.

Just for info, I have moved my investment from crowdyvest with the last one due in June (12months investment). This is because of the low ROI coupled with long tenure. When the whole thing settle, I will reconsider. 20 to 24% per annum for a cooperative is best in class but in crowdyfunding, not really.
Just my views. Thanks.



Hmmm. I see. Thanks for sharing your thoughts chief.
Investment / 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.
Investment / 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.
Investment / 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.
Investment / 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.
Investment / 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.
Investment / 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.
Investment / 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

Investment / 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.
Investment / 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.
Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 10:40am On Feb 15
Meanwhile I was paid by TA this morning even though my number on the queue for November payouts was over 400. Yessss!

So check your accounts folks and see if you've been paid. See proof of my own payment below:

2 Likes

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 3:56pm On Feb 14
silverluci:


I have been trying to join this group but to no avail. I searched for the group on telegram but no results found. Is there something I'm doing wrong?
That's odd. People have been joining presumably using that link. I also found it hard to use it at first because of capitalisation errors. Try using the link again while paying close attention to capitalisation and let me know if you still have issues.
Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 5:45pm On Feb 13
drneurone:
Please what is happening with let's Farm.What was the date they promised to commence payment?Who has a link to the telegram page we talked about?

Here you go. Cc everyone that wants to join the Lets farm investors group.

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 5:38pm On Feb 13
tairat:


Hello, I'm also an investor with GoatmeatHQ and I can tell you that Priestly is not willing to pay us our money. I have been quiet for a while because he wasn't happy that I was giving updates here.
We have a group on WhatsApp, contact me so I can add you. Priestly cannot go with our hard earned funds just like that, he's a scam!

Aha! Welcome back. Glad to hear you're fine, but sad to hear that you've still not been paid.

However, don't let Priestly intimidate you. Give updates here all the time. For it will be easier for him to play a fast one on his investors if they act as individuals, but it will be impossible for him to achieve that if you folks keep each other updated and work as one united group. So refuse to intimidated until you get your capital and ROI abeg. Cheers.

2 Likes

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 12:12am On Feb 09
Katlyst:


Risk appetite differs.
I am waiting for SEC_90 days.

Same here bro. I'm waiting till then. I don tire for all these games wey some agritech firms dey use us do.
Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 11:26pm On Feb 08
silverluci:


Tried to join the group but couldn't find it. Could you please check the link and send again?

Three Defaults from Letsfarm as at today: Rice Trading, Garri Trading and Fish processing and still no word from then.

Lets-farm pay me my money o.

Here it is:

1 Share

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 1:01pm On Feb 08
Meanwhile, am I the one just noticing this or has Farmfunded changed their address from somewhere in Gbagada, Lagos to far away in Kano state? Here's a screenshot of their current (and new?) address below. You can also see it for yourself by checking the footer of their website.

Who can confirm that this has been their longstanding address?

3 Likes

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 12:58pm On Feb 08
Gfab20:

Me too. They are just awesome with the way they've handled the repayment, keeping to their every word. Too much integrity.

Yes I totally agree.

1 Like

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 3:37pm On Feb 06
benedictuyi:
The continued progress made by thr.ive agric has gone to show us that not all agritechs are scammers or Ponzi schemes as some persons would like us to believe.

Agriculture remains a viable means for profit-making and when combined with intensive capital (eg through crowdfunding), it becomes a force.

In my opinion, people who compare all agritech crowdfunding to ponzis are mistaken.

If an agritech company actually engages in farming, has a market to sell its products, has robust risk management, and a competent leader, it will be cheer mischievousness to label it a ponzi.

Regardless of the numerous defaulting firms, with some being outright scammers (menorah and pork money for example), others actually experienced genuine challenges.

Most of us who have been burnt by some of these crooked firms will admit to not carrying out proper DD. I mean a simple farm visit with demand for documents showing farm ownership or lease would have shown menorah as a complete scam. Even a simple request for an insurance policy number would outs some of these scammers.

All in all, agric investment when carried out properly is not a ponzi scheme...

In fact I have an opinion that if TA finish paying their debts, open new farms that have BETTER evidence of farming and a BETTER go-to-market strategy than just waiting for off-takers, my respect for them will be high.

8 Likes

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 3:16pm On Feb 06
drneurone:
Nobody is talking about let's Farm.Has payment recommenced

No oo. Payment has not commenced at all. Even the food trading investment that Enitan Bello said wasn't affected by these payout difficulties- even for that, folks have not be paid all round. So let's-farm has been a total disappointment.

I suspect that folks have been quiet here because of the discussions we are already having on Tele..gram about how to collect our dues from Enitan and Lets-farm. So if any other investors in Lets-farm are here who haven't joined that group, please do so ASAP using the link in the attached screenshot. Thanks.

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 1:05am On Feb 02
TAGM:


Ok please do, invested with them few days back.

tunene:
I am Also waiting for them. Its 7pm but the payout says 11pm. So, make I still chill small.


I checked now and I wish to confirm that I have been paid by Agrilet. I encourage them to keep this up, and I hope they transition quickly and seamlessly to a firm that abides by SEC's new guidelines on agritech/crowdfunding.

Until they and others do, I remain bearish about them all.

3 Likes

Investment / Re: Crowdfunding Investment Platforms And Options (non Agritech Categories) by enigmatique(m): 6:44pm On Feb 01
Bridget001:
Update:
https://adviserinfo.sec.gov/ for the CRD number

Insurance is via https://alpaca.markets an SIPC insured broker.

@ enigmatique


Thank you very much for this Bridget001. However, I found something rather unsettling when I checked adviserinfo.sec.gov to see Risevest's registration, and it can be seen in the screenshot below. You, and anyone else, can visit the link in the address bar of my screenshot to confirm this yourselves. If 2-3 of you also confirm it, then we have a question to ask Risevest.

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 1:51pm On Feb 01
kemi21:
Agrilet has paid me for the poultry investment due today.
I am also due to be paid today. I'll keep everyone posted about whether or not I get paid before the end of the day.

3 Likes

Investment / Re: Digital Agriculture Investment platforms/options in Nigeria by enigmatique(m): 10:22pm On Jan 31
DaBogu:
At this junction, all investors on Agritech should desist from investing either I green or red list.

Concerned Investor.

I agree. Let's wait to see which of the firms are serious and stable enough to implement the new SEC rules. Then we can get a little less bearish.

4 Likes

Investment / Re: Crowdfunding Investment Platforms And Options (non Agritech Categories) by enigmatique(m): 6:09pm On Jan 08
Bridget001:

Thank you smiley
All right, I will try to add them.
Sounds good. Please quote me after you do. Thanks!
Investment / Re: Crowdfunding Investment Platforms And Options (non Agritech Categories) by enigmatique(m): 12:22am On Jan 07
Ah I'm just seeing this. This is brilliant work @ Bridget001! You have done very well. This is very interesting.

(PS: can you add links/references for info like their insurance cover and their registration with the CRD in the USA? Thanks.

Bridget001:
Notes on Risevest
ABOUT THE COMPANY
Risevest is a digital asset manager that connects Nigerians to dollar denominated investments around the world:
1) Euro.bond
2)US Real Es.tate
3)US Stocks

-Was formerly Cashestate from March 2019 which was only real estate. In November 2019 new options like Eurobond and US stocks were added and relaunched as Risevest.

-Risevest is registered with the Corporate Affairs Commission as Rise Vest Technologies Limited with RC number 1622382 and provide financial services under a Lagos State Cooperative License number LSCS 17080.

-Risevest are also registered investment advisors with the United States of America securities and exchange commission as Rise wealth Advisors with CRD number 306658.

-Risevest operates in Nigeria and is open to Nigerians anywhere in the world that have BVN.

-Here is their latest stocks performance https://rise.capital/blog/stocks/performance-update-oct-2020/

INTEREST RATES OFFERED
1) EURO.BOND: 10-12% p.a.ROI(Return Of Investment)

2) US REAL ESTA.TE: 13-15% p.a.

3) US STO.CKS: 12-14% p.a. ROI. Last year record.ed 27% .
Made up of 20+ high growth sto.cks. You don't need a dom account for it. You can fund in dollars or naira which becomes dollars on the app.
-You can also withdraw in naira or dollars.

-You can invest for 3, 6 or 12mon.ths and rollover to com.pound your interest.
-Minimum investment is $10 and you can top up your inves.tments at any time.

FEES
1)Management Fees:
No fees on investment with returns below 10%.
1.5% on investment with returns between 10% and 15%.
2% on investment with returns above 15%.
The management fee is charged annually after your investment matures not before.
2) Withdrawal Fees
-NGN 35 transfer fee charged for withdrawals into bank accounts.
-And 5% withdrawal penalty fee charged on all withdrawals made from a locked (yet to mature) plan.

3) Transaction Fees
- No transaction fee if you transfer to your Risevest unique Providus Bank Account on the app.
-Card Payments:
NGN Cards: From 1.4% to (1.5% + NGN 100) per transaction and capped at NGN 2000.
USD Cards: From 2.9% to (3.9% + NGN100) per transaction.

ACCESS/INVESTMENT CHANNELS
Risevest is available on Android and iOS.

SUSTAINABILITY
Risevest seems sustainable having been in business for 1+years and having successfully completed two accelerator programs; LABS powered by ARM in Lagos, and Techstars & Western Union accelerator in Denver, USA.

KEY EXECUTIVES
-About Risevest--https://rise.capital/about-us
- Eke Urum: Founder and CEO,
https://www.linkedin.com/mwlite/in/ekeurum
-Bosun Olanrewaju: Co-founder and CTO,
https://www.linkedin.com/mwlite/in/bosunolanrewaju
-Tony Odiba: Co-founder and Data Analytics,
https://www.linkedin.com/mwlite/in/odiba-anthony

-Eke Urum was the cofounder of Buycoins

COMPANY FAQ
http://help.rise.capital/en/

INSURANCE
-Risevest claims that "as an investment firm, your investment are insured by the US government for up to $500,000 and all other investments are held by our SEC registered trustees to ensure security and safety. With our cooperative license with the Lagos state government, your investment with us is recorded and audited by the state. In the event of a liquidation the users account is credited with their investment."

LIMITATIONS
-- You can liquidate your investment at any time but doing so before maturity may cost you 5% penalty fee.
-- You can't select individual stocks, they do it for you.

SECURITY AND REGULATION
Their SEC registered trustees, ARM Holdings Limited monitors and maintains investments to ensure peace of mind for users and guarantee the integrity of assets and investment process. App features PCI-DSS (bank level) security to protect investments from unauthorized access.

SUMMARY
-Pros
-- It seems to belong to a stable company that has been running business for a while.
-- The owners are visible online and can be contacted and held accountable if Risevest has hiccups.
-- Safety from naira devaluation because of the dollar investment opportunities.
-- Telegram group where investors get to interact with one another and the admins including the CEO. Financial edu.cation is also shared there.
-- Monthly investors' zoom meeting.
-- You can liquidate your investment at any time.
-- This looks like a low to high risk investment, considering the range of assets that someone can invest in.
-- Diversification: Ability to invest in Euro.bond, US real estate and stoc.ks.

Cons
-- Only available on Android and iOS. Not on web yet.
-- Withdrawal takes 3 to 5 working days before it lands in your account because investments are in US and have to go through a process.

Happy Investing!

If you want to invest with Risevest kindly use my referr.al code: MISF3KC8


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