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Crime / Re: CEO Of Pruvia International, Izu Osuji Accused Of ₦‎10 Million Fraud by NairalandAngel(m): 9:34am On Aug 21
If the return on investment they promised you is too good to be true just know there is a high likelihood you are about to be defrauded

1 Like

Investment / Re: Crypto Scams Uncovered: How To Protect Your Investments From Them by NairalandAngel(m): 7:11pm On Aug 19
Noted
Investment / Re: I Need A Partner. by NairalandAngel(m): 7:21pm On Aug 17
Goldyeye:
Ikorodu lagos
No steady power supply.
I can do d setup and monitoring to get desired result.
At the moment I don't have capital

I am not ready to bear 100% of the risk alone.

If you are not ready to contribute at least 40% of the capital for set up then I'm not interested.

Before I put in my own money in a business which will be managed by a third party I must see evidence that the person has something to loose if that business collapses

1 Like

Investment / Re: I Need A Partner. by NairalandAngel(m): 8:29pm On Aug 16
Goldyeye:
Dis Wil cost us 2.5million
Also a small gen Incase sun no shine

How much of your own money are you ready to contribute as part of the capital for this business?

Which state are you based in?

What part of the state do you live in?
Business / Re: Top 20 Fintech Companies In Nigeria And Their Capital Share by NairalandAngel(m): 7:47pm On Aug 16
penielx:
Nigeria’s financial technology (fintech) sector has witnessed explosive growth in recent years, driven by a young, tech-savvy population, increasing mobile penetration, and a need for accessible financial services. Fintech companies in Nigeria are revolutionizing the financial sector by providing innovative solutions that cater to the unbanked, simplify transactions, and offer new financial products. This article explores the top 20 fintech companies in Nigeria, their capital share, and the unique features of their services.

1. Flutterwave
Capital Share: Estimated at $3 billion (2021 valuation) Flutterwave is a payment technology company that provides seamless and secure payment solutions across Africa. Founded in 2016, it allows businesses to accept payments in over 150 currencies and through various methods, including cards, mobile wallets, and bank transfers. With a robust API, Flutterwave enables businesses to scale quickly, making it a favorite for e-commerce platforms and international businesses looking to expand in Africa.

2. Paystack
Capital Share: Acquired by Stripe for $200 million in 2020 Paystack simplifies payments for businesses by offering a suite of payment tools that support multiple payment methods. Known for its easy integration and reliable service, Paystack is popular among SMEs, startups, and large enterprises in Nigeria. Its acquisition by Stripe marked a significant milestone in the Nigerian fintech landscape, highlighting the country’s potential in the global fintech market.

3. Opay
Capital Share: Raised $570 million in Series C funding in 2021 Opay is a comprehensive mobile payment platform that offers services such as money transfers, bill payments, and ride-hailing. Backed by Chinese investors, Opay has rapidly grown its user base, focusing on providing financial services to Nigeria’s underbanked population. The platform’s low transaction fees and user-friendly interface have made it a popular choice for many Nigerians.

4. Interswitch
Capital Share: Valued at $1 billion (2020) Interswitch is a pioneer in Nigeria’s fintech industry, providing integrated payment processing and transaction services. Established in 2002, Interswitch has expanded its offerings to include a variety of digital payment products, including Quickteller, Verve cards, and an extensive ATM network. Its services are widely used across Nigeria’s banking sector, making it a backbone of the country’s digital payments ecosystem.

5. Carbon (formerly Paylater)
Capital Share: Raised $10.4 million in 2019 Carbon is a digital financial services platform that offers quick loans, investment opportunities, and payment solutions. With a focus on providing credit to underbanked Nigerians, Carbon has gained significant traction by offering unsecured loans through its mobile app, making it easier for individuals and small businesses to access credit.

6. Paga
Capital Share: Raised $34.7 million to date Paga is a mobile payments company that enables users to transfer money, pay bills, and buy airtime using their mobile phones. Paga’s extensive agent network across Nigeria has made it a critical player in driving financial inclusion, especially in rural areas where traditional banking infrastructure is lacking.

7. Kuda Bank
Capital Share: Raised $90 million in Series B funding in 2021 Kuda Bank is a digital-only bank offering free banking services, including savings and spending accounts with no maintenance fees. Kuda’s mobile app provides users with a seamless banking experience, allowing them to manage their finances, save automatically, and access overdrafts. Its customer-centric approach has earned it a rapidly growing user base in Nigeria.

Read more
Source: https://loansharkreview.com/Insightdetails/Top-20-Fintech-Companies-in-Nigeria-and-their-Capital-Share

It's not "Capital share", it's "Share capital"
Business / Re: See How You Can Earn ₦40,000 Daily With Shareops by NairalandAngel(m): 2:49pm On Jul 06
Anojo:
Shareops is a new business that helps you earn at least......
Read more
https://www.globalalat.com/knowshare/

What's the business about?

1 Like

Business / Re: #50,000,000 Business Advice by NairalandAngel(m): 3:17am On Apr 10
Kunle56:
I need advice on which business I can start with 50M and expect a monthly return of 1M and above

I have been down this road before so listen very carefully to what I have to tell you

First - Nigerians have no regard for business agreement whether written or verbal therefore if you go into any form of partnership with the anyone where you would provide the capital just know that at some point he would renege on your business agreement and cheat you.

If you must go into business partnership where you would provide capital then just make sure that your money does not leave your sight at any point in time. You can do this by ensuring that the business has a dedicated bank account with you as the sole signatory and you must vet all payments going out through that account.

Do not ever invest your money in a start-up business, if you do just kiss the money good bye.

I can guarantee you that most of the people making noise about some fantastic business that pays millions of Naira as returns have never actually run that business before but they will come here to boast and make empty promises they can never achieve.

Any money you invest in a start-up will be used for experiment and learning curve therefore just kiss it good bye cos you will never get it back!

Don't be fooled by business plans showing fantastic figures, anybody can prepare a business plan and garnish it with cooked up figures.

Do not ever put your money in a business that is not at least 5 years old and you can see evidence that the promoter of the business has actually taken a risk by investing a significant amount of capital.

With regards to security of your funds I would advise you to give a loan and ask for a solid asset as collateral security instead of just making an equity investment.

One animal with Nairaland moniker Mel... who I invested N2 million in his business absconded with my money to the UAE, this is just one of my terrible experiences.

In conclusion the only business worth investing money in as far as Nigeria is concerned is a business you are managing yourself.

If you do not have the time to manage the business yourself then just leave your money in the bank or invest it in treasury bills, that way you will sleep easy knowing that someone is not scamming you under the guise of business partnership!

5 Likes

Jobs/Vacancies / Re: How Did You Know You Weren't Going To Get The Job During Job Interview? by NairalandAngel(m): 11:07am On Mar 05
Pistolx:
The guys doing the interview where very bored and began asking me personal questions like do I have a gf, do I smoke and drink, do I play football, do we have fine babes in my locality, I knew the guys where not serious just catching cruise

They did not behave like professionals

2 Likes

Romance / Re: Let's Raise 4000$ by NairalandAngel(m): 10:34am On Mar 05
MrBrownJay1:
only $4000? praise the lord....




grin

1 Like

Travel / Re: Funds To Japa by NairalandAngel(m): 7:46pm On Nov 27, 2023
Tohsynetita1:
most people you see moving out sold their resources. But if you can do some business like exportation of Nigeria food, some farming crazy farming that are small scale but return is large within some months, it's good. in export, you can make 1 millionaire gain on 100kg of Garri only in a week. Export is the best but hard to come by.

A kg here is around 700 naira, there is around 12 USD that's like 12000 naira. their are some courier that charges 3500 per kg multiply it by 100, that's 350k for transportation, getting there if sold like say 10 USD, that's 1000 USD within like 5 days. 1000 USD is around 1.1 million naira here in just few days, now imagine you send, egusi, elubo, etc.

Export of food from Nigeria to Europe and America is not as easy as you're making it sound here
Business / Re: Make Money From X (twitter) When You Open A Stripe Account by NairalandAngel(m): 4:18pm On Oct 29, 2023
TechBIZwiz:
@NairalandAngel the process starts with getting a US business registered. That takes about 3 - 5 days on Norebase. Once you have that, you can open a US bank account which enables you to get a Stripe account. There are more details in the article here
https://blog.norebase.com/x-ads-revenue-program-how-to-get-a-stripe-account-in-nigeria-using-norebase/?campaignId=nairaland

Ok...thank you for the feedback
Crime / Re: A Debt Recovery Agency Needed by NairalandAngel(m): 4:16pm On Oct 29, 2023
I'm interested in seeing how this plays out because I will also need the services of debt recovery agents
Investment / Re: This Project Urgently Needs An Investor by NairalandAngel(m): 11:08am On Sep 15, 2023
ZOT2023:
After all these discoveries,i found out that with an investment of N1.5million into this project,i can make a sale of 600k every week from this waste.
I have this two things in mind;
A) An investor ready to invest N1.5million into this project and get 200k per week from a month after commitment,you get the money everyweek for 3months,after which your investment of N1.5million would be returned to you.
B) A person ready to invest into this great idea all alone,i will be ready to put such person through the A to Z of this business at a price after which the person can start the business and i can also start mine conveniently.
If you are interested in any of these options, kindly send an email to
zot2023@yahoo.com

Have you actually processed a transaction from start to finish on a small scale with your own money?

Your starting point should be to run this business on a small scale for at least 3 to 4 years so you can understand everything about it including it's seasonal cycles and all trade secrets associated.

It is after you have done this that you can start looking for investors when you want to scale up operations
Business / Re: Make Money From X (twitter) When You Open A Stripe Account by NairalandAngel(m): 5:38pm On Sep 08, 2023
TechBIZwiz:
Here's the gist. Currently in Nigeria, you can't open a Stripe account. But Stripe is the only payment method accepted by Twitter ad revenue program. If you want to benefit from the Twitter revenue program and you meet the other criteria, here's a guide on how you can open a Stripe account legally in Nigeria
https://blog.norebase.com/x-ads-revenue-program-how-to-get-a-stripe-account-in-nigeria-using-norebase/

How does this work?
Romance / Re: I Feel Stuck With My Kind Of Job And Dont Knw How To Go About Changing It by NairalandAngel(m): 4:55pm On Sep 08, 2023
Collinsaik:
Have u ever felt stuck in a job that u do not like, and how did u manage to change it. Ive been suck in a job (construction) that would not allow me grow or live the kind of life that i wish to have, instead of moving forward it seems am retrogressing. Recently i even found a promising relationship that should lead to marriage but to be honest with you, i can not be able to afford a wedding becos my finances is nothing to write home about. What do u guys suggest i do..

You should consider upgrading your skill set so you can be in a better position to look for the type of job you want
Business / Re: What Business Can I Do With ₦1m In Nigeria Today? by NairalandAngel(m): 11:48am On Jul 31, 2023
EniHolar:


I can sew, but not an expert in it.

I love trading too

Trading in general or trading in currencies?
Business / Re: Business Partnership With At Least N3 Million Capital To Commit by NairalandAngel(m): 1:18pm On Jun 28, 2023
Brume001:
I have N3 Million to invest in a viable business idea where I will be primarily involved in its Operations and Oversight.

If you have a good business plan and want financial backing, I am interested as long as I will be primarily involved, contributing 50% to the hands-on operation, both directly and indirectly.

If we are able to work things out, I will commit more money monthly if need be.

If you are that Man or Woman, then contact me on WhatsApp at 09046595319. or via the email anabellily7@gmail.com (I am a man. so don't let the email id suggest otherwise)

Just so you know, we will have a lawyer involved to protect both of our interests before I commit the money. Dont Worry about the lawyer fee.


It is preferable if the person is in Benin City (or Edo State). But you may still contact me if you live outside the State. I could relocate to anywhere in Nigeria because I work online and don't have family commitments.

Dont contact me with stupid ideas and I will welcome both Online and Offline business proposals.


I have been down this road before so let me give you some advise based on my personal experience.

Do not ever invest your money in a start-up or any business that has not generated momentum by being in operation for at least 4 or 5 years.
Forget whatever bullshit the person wrote in the business plan, they're just figures which anyone can concoct.
If you have limited funds to invest, the only business you should put your money in is a business that has already started operations and has gone past teething problems and built up a customer list
If you ignore this advise just kiss your money good bye.

Only you can grow your business
Forget the idea of setting up a business to give someone to run for you. If you cannot find the time to run and grow the business yourself then it's better for you to just leave your money in the bank or you buy shares in a structured business that is in a regulated sector of the economy where corporate governance is taken seriously.

Nigerians do not respect written agreement.
Even if you like go and use the the chairman of the Nigerian Bar Association as a witness just bear in mind that an average Nigerian has little or no regard for legal agreement.
This is because he knows that if he defaults and you want to enforce the agreement you will have to spend a lot of money to police and the judicial process; you may not want to spend the amount of money involved when you realise that the process for obtaining justice is so slow and frustration.

Apart from this if the person has embezzled or misappropriate the money and is as a broke as a church rat then how exactly do you plan to compel him to refund your money since he does not have a Kobo to his name.

I do not have the time right now to give you an exhaustive write-up on other challenges of financing a business partnership in Nigeria but what I would tell you is that in any business partnership you are entering into with a Nigerian the only way you can avoid being scammed or cheated is by being in control of the money 100%.

Any payment must be made by you after you have fully investigated the supplier to be sure that it's not a scam, also payments from clients or customers must enter an account that is controlled by you or a brand new business account that is opened solely for that business.

Do not for any reason agree to use the account that is already opened by the business promoter even if he agrees to make you a signatory to that account.

Before you agree to finance any business make sure you ask as many questions as possible so that you will understand how the business makes money which will enable you guage if it is even profitable and the level of integrity of your partner.

While assessing any business opportunity and you see any strong red flag just walk away from the deal and do not look back for anything!

1 Like

Jobs/Vacancies / Re: How Was Your Experience Working With A Start-up? by NairalandAngel(m): 2:46pm On May 19, 2023
My experience with start-ups was providing funding.

Most of them are rubbish!

Any money you inject in a start-up business in Nigeria just kiss the money good bye angry

5 Likes

Business / Re: Which Business Did You Regret Starting Because It Ended Up In HUGE Lose? by NairalandAngel(m): 5:53pm On Mar 29, 2023
If I start telling my story I will not leave this place today angry

Once you start having serious doubts about the financial viability of a business you want to start or provide finance just back out immediately and don't look back no matter what!

4 Likes

Business / Re: In What Business Can I Invest #1,000,000 And Get A Profit Of #4,000 Daily? by NairalandAngel(m): 10:33am On Mar 22, 2023
enoch273:
There are lots of business start-ups with great ROI. Meanwhile if you also want your business to grow exponentially, you can apply for an online business account and get access to business loan facility, via the link on my signature.

Most of those start-ip only work on paper, when you actually invest in them you realise that they're junk which are not viable in real life!
Business / Re: For Educational Reasons, Sites You Can Use A Card Without Pin Or OTP by NairalandAngel(m): 9:58am On Mar 22, 2023
namiji2598:
Is it possible to use a debit card for any kind of online transactions without otp

Yes it was possible to make payment for an online transaction without OTP but I think most companies are blocking that loophole
Romance / Re: If You Are Given 1m Now, What Profitable Business Will You Start by NairalandAngel(m): 2:07pm On Nov 30, 2022
Ibtxxo:
I need a practical analysis and business details

Just pick one business idea and drop your plan

I have been down this road before, it is long and winding and covered in thorns.

Just bear this in mind - Any money you invest in a start-up business is already a bad debt which you will likely never recover!
Business / Re: Can You Draft A Start-up Documentation ? Come In by NairalandAngel(m): 10:21am On Nov 15, 2022
hyfr:
Looking out for a competent and qualified financial analyst/advisor that can deliver a well drafted, and quantified Start-up coy documentation .

You can reach out with a quote or comment, or whatsapp
8028229183.

Shalom

Essentially what you need is a business plan therefore you should describe it as such otherwise most people will not know what you're talking about!
Business / Re: Pharmacy Business,how Profitable by NairalandAngel(m): 5:38pm On Nov 06, 2022
Olabukola11:
Hello business minded people of Nairaland. I am a diasporan Nigerian and to be honest am tired of this UK and am thinking home now. I have a plan to come and invest in pharmaceutical retail business.
Am not a pharmacist, my plan is to employ a pharmacist that will run it while I supervise the day to day activities. Am thinking of starting it next year after the election. Set it up and go back to UK to finalize my final exit by Dec next yr. Am looking for location along Lekki Epe Exp or Ibadan Oyo State for now. Am hoping to make it a chain of pharma Stores in future

I have mapped out 10m naira for it, hope it will be enough.

Looking forward for your good advice and contributions.

Thanks and happy Sunday

Running a pharmacy is very profitable in Nigeria but pleas make sure you get some form of hands-on experience before you invest in it.

If you fail to do this just know that your employees will be stealing money right from under your nose but you will not know!

Also be aware that you must have a licence a s pharmacist before you can get a licence to open a patent medicine store...people who do not have this licence get around this problem by going into partnership with a pharmacist who has the licence or by renting the licence for a fee

1 Like

Crime / Re: Have You Been Duped/scammed Before? Share Your Experience by NairalandAngel(m): 7:50pm On Sep 11, 2022
...

3 Likes

Business / Re: Our Intell by NairalandAngel(m): 1:24pm On Jul 23, 2022
ntrukpum:
Please mods help me push this to front page. I need urgent professional advice

This is exactly one of the reasons why I stopped providing finance for start-up businesses.

Once you agree to provide funding they will just dump all the expenses on your head so that they can quickly bale out if the business hits any challenge!

For your information the project manager is not answerable to you as far as this project is concerned; she reports to the Executive Producer and must render account to him on how the money was spent.

She and the other consultants who she brings in are not equity owners in this project therefore the project must bear their transport expenses; you on the other hand are an equity partner so you must bear personal expenses of appearing for meetings or attending events related to the project.

Your personal travelling expenses cost for activities related to this project are your responsibility and should be completely borne by you.

If you want potential sponsors to put their money into your project then you must lead the way by also committing your own personal funds to it so that people can see that you're also risking your own money!

Let us even assume that the Executive Producer agrees to bear all the expenses including your transportation expenses and at the end of the day the business flops it then means that only he makes a loss because he is carrying 100% of the risks while you will just walk away free.

Does this sound fair to you considering that you were the one who brought up the business idea?

On the other hand if the Executive Producer decides to bear all the costs and the business is successful it then means that he is entitled to and can claim ownership of 100% of the profits from the business.

But I'm very sure you will not agree to this.

Based on what I know of reality shows you need a budget of at least N100 million for this show to have any chance of success, the N5 million the EP has agreed to contribute so far is not even enough for just marketing and publicity alone which should have a budget of at least N30 million.

Your preoccupation at this time if you truly believe in this project should be how to convince and bring in additional sponsors and financiers instead of scrambling to get a share out of the project funds for yourself because you're trying to dodge risking your own money!

1 Like

Business / Re: Our Intell by NairalandAngel(m): 12:49pm On Jul 23, 2022
ntrukpum:
Good morning nairalanders
Four years ago I met a guy who shared an idea of a reality Tv show on leadership and governance with me and I bought the idea. We started work on it, we made research and wrote things to put the Project together. After some months of intensed brainstorming we were able to complete the paperwork of the project and we proceeded to The Nigeria Copyright Commission for licence. Three months later we were given the copyright ownership of the work.

We had no dime to do anything. You all know what it takes to put up a reality show on TV, even on social media. It's not a child's play. We started meeting big and influencial men who we knew either had d money to sponsor the Project or could connect us with people who could push the Project. 99% of people who we met gave approval and really praised us for thinking that far and outside the box.

We met this young philanthropist who is in early 30s now and this guy couldn't stopped worshipping us. He said most young people don't think again, rather they beg rich men for money. He said so many Nigerians are clamouring for BBN to be scrapped off the screens. And he said we had brought a solution to that problem. He promised to work with us and asked us to go back and think of how we want him to come in. And also pleaded with us not to show the work to any politician. That politicians don't have time to think so they hijack people's work.

We left and came back with one thing on our mind, that is, for him to sponsor the whole Project. He agreed. But didn't show real sign of seriousness. We met severally because of this. He was always kind to us, one of the days we came to his office he personaly walked us down the gate and told the security men that any time we come we don't need to sign in b4 entering. It was a privilege.

After several years it was like he wasn't interested in investing his time and resources there again. He was always telling us to to be patient that he was still consulting with professionals who are into the system (media and entertainment world).

So last month he contacted a movie producer and asked us to meet with her, because he was and still out of the country. He told us to explain everything about our project to her. We met with this lady and she was thrilled with the idea of the Reality Tv show. He asked the lady if she understood our work, the lady said yes. She asked us if the lady is resourceful, we said yes. So he told us to start work on the project. He promised to invest 5million naira on the project and advised us to make sure the project works. He has automatically becomes the Executive producer (EP). For more than a month now we've been working on this project with the lady's team and she has become the official production manager of the project. We are just the copyright owners and part of content creators.

Last week the Executive producer(EP) dropped 1million naira for the commencement of some work on the project. He advised that we should all agree on what so ever we want to do b4 disbursement of funds. But surprisingly the lady is trying to sideline us ever since the money arrived because it was paid into her account. One day We raised an idea of us getting transportation fare and money for data, she rejected it. But she uses this same money to fund her transportation and do phone calls. She makes contacts with people and contract them on the Project without letting us know, not until it is time for payment.

She has spent all the 1million naira and we are to expect another batch of the money this week. But one thing dat disturbs us is that she has sidelined us ever since the money for the project that we worked so hard to create came. We've contacted a lawyer and he advised us to wait until we sign a contract with the EP. And that we should allow the lady to work with the funds and let the project start.

We are the content creators too but she brings in people that can't give any simple content content to the project. They all want to see our content, modify and work on it. So why are they called content creators. She pays transport for them whenever they come out of the money that was given but refused to give us money for transportation.

She wants to bring in movie concepts into an intellectual project that has nothing to do with movie. We are afraid. She feeds the EP unnecessary information about us. She wants to control the web site, all the social media pages. She said we should sign an agreement with her that she will handle the project in the subsequent editions. Like 5years contract. She's the boss now. She

Please lawyers and entertainment professionals advice us. Thanks

Investment / Re: List Of Ponzi Scammers In Nigeria: Those At Large By Nnamdi Chife by NairalandAngel(m): 10:14am On May 02, 2022
dubaino:
Successful Ponzi Scammers in the past....

MMM, MBA , Chinmark, Ovaioza.

They are not from other planets they are around you, they are your friends, lovers , Family. The list is endless.

Look before you make that transfer.

As shared by Nnamdi Chife on Twitter:


https://mobile.twitter.com/NnamdiChife/status/1515607462216355841

Please also include this organisation in your list of scammers Mel... Global Ventures which was run by ...

The name of his Nairaland monikers are Mel...
Investment / Re: Are There Real Investors Out Here ? by NairalandAngel(m): 10:10am On May 02, 2022
klbakare:
Please I really apologize for slow responses. I am presently the manager, marketer, labourer, supervisor, front desk etc. for my farm. Asides that, I’ve been sick. Lastly, I’m presently dealing with a frustration about getting water on the farm. I've dug a well three times on my farm and this most recent third one just hit a rock. I'm more than tired embarassed embarassed embarassed embarassed
@nairalandangel, I do not have a 3 years running history to start with. Secondly, please remember when I told you I didn't study finance, I don't know how to prepare a profit trade and loss, I also don't know how to prepare so many business documents, these are part of the stuffs I'm hoping someone will teach me. However, we keep a farm record that shows input into bird production and mortality rates. It covers basic costs like DOC costs, feed costs, drugs costs, vaccination and bird survival rates etc. I don't know if that will help. We also have a record of total production cost and total turnover per set.
I'm presently on the look-out for business developers, advisers etc. whose mouth is not wide (or with interest to help entrepreneurs like me) that will help me with basic foundational stuffs for a proper business setting like the required books for book keeping, proper understanding of shareholding, large investor network etc. and also who will help me to prepare the projection documents in the formats that you have stated here.
I want to do something big and my gut tells me “just go big, if you want to be big”
Lastly, I am still ready to do debt financing against my present assets but in the meantime, I will work on a handout (I presume to get an expert) covering all those areas you have mentioned.

Sorry for not responding earlier, i have been very busy

It's good that you keep records of your expenses especially as it related to each production set

Your next step will be to translate them to annual figures which you can prepare a Profit and Loss account to present to prospective investors.

Here is how you do that:

1) You need to add up all the sales which took place in a particular year eg if you sold 7 sets in the year 2019 you need to add them up

2) Next you need to add up all the costs of the production process that was used to achieve the 7 sets in year 2019. Lets say you bought 14 bags of bird feed, you need to add up their costs. After this you add the cost of medicines, payment to a vet for that year only, cost of supplements or additives to the meals of the chickens, wages of the farm hand or the person directly involved with looking after the chickens etc. All these are referred to as direct costs.

Another important expense that could also appear here i depreciation. This is an estimate in Naira value of the wear and tear that your equipment suffers while in use in the production process

Gross Profit
This is the figure you get when you subtract the total figure for direct expenses or operational costs from the total revenue for the period under review.

3) Next come the overheads
These are expenses of a general nature but which were also incurred in running the farm.
- Espenses that will fall in here include the following
- Rent that you are paying to lease the farm
- Expenses spent on petrol to run your
- Electricity bills for the year in question
- Salaries of administrative staff eg the farm manager, driver (if any)
- Levies paid to the government
- Levies and dues paid to the farmers' association etc
Please note that this list is not exhaustive because I'm not a poultry farmer so I don't know all the expenses involved but the objective is to make sure you capture all the expenses involved

An addition of these cost will give you administrative expenses which you will subtract from the Gross Profit obtained above to get Net Profit or Net loss.

You need to prepare this report in a tabular form for at least the 3 most recent years of your operations.

Be sure to use only actual figures based on historical figures to prepare this report because any figure you quote here can be independently verified using your bank statements

Note:- I decided to also post my response on your thread in the Investment Section so you can get more views and hence more suggestions

1 Like

Agriculture / Re: Help, I've Bitten More Than I Can Chew; Serious Investor/partner Needed. by NairalandAngel(m): 10:06am On May 02, 2022
klbakare:
Please I really apologize for slow responses. I am presently the manager, marketer, labourer, supervisor, front desk etc. for my farm. Asides that, I’ve been sick. Lastly, I’m presently dealing with a frustration about getting water on the farm. I've dug a well three times on my farm and this most recent third one just hit a rock. I'm more than tired embarassed embarassed embarassed embarassed
@nairalandangel, I do not have a 3 years running history to start with. Secondly, please remember when I told you I didn't study finance, I don't know how to prepare a profit trade and loss, I also don't know how to prepare so many business documents, these are part of the stuffs I'm hoping someone will teach me. However, we keep a farm record that shows input into bird production and mortality rates. It covers basic costs like DOC costs, feed costs, drugs costs, vaccination and bird survival rates etc. I don't know if that will help. We also have a record of total production cost and total turnover per set.
I'm presently on the look-out for business developers, advisers etc. whose mouth is not wide (or with interest to help entrepreneurs like me) that will help me with basic foundational stuffs for a proper business setting like the required books for book keeping, proper understanding of shareholding, large investor network etc. and also who will help me to prepare the projection documents in the formats that you have stated here.
I want to do something big and my gut tells me “just go big, if you want to be big”
Lastly, I am still ready to do debt financing against my present assets but in the meantime, I will work on a handout (I presume to get an expert) covering all those areas you have mentioned.

Sorry for not responding earlier, i have been very busy

It's good that you keep records of your expenses especially as it related to each production set

Your next step will be to translate them to annual figures which you can prepare a Profit and Loss account to present to prospective investors.

Here is how you do that:

1) You need to add up all the sales which took place in a particular year eg if you sold 7 sets in the year 2019 you need to add them up

2) Next you need to add up all the costs of the production process that was used to achieve the 7 sets in year 2019. Lets say you bought 14 bags of bird feed, you need to add up their costs. After this you add the cost of medicines, payment to a vet for that year only, cost of supplements or additives to the meals of the chickens, wages of the farm hand or the person directly involved with looking after the chickens etc. All these are referred to as direct costs.

Another important expense that could also appear here i depreciation. This is an estimate in Naira value of the wear and tear that your equipment suffers while in use in the production process

Gross Profit
This is the figure you get when you subtract the total figure for direct expenses or operational costs from the total revenue for the period under review.

3) Next come the overheads
These are expenses of a general nature but which were also incurred in running the farm.
- Espenses that will fall in here include the following
- Rent that you are paying to lease the farm
- Expenses spent on petrol to run your
- Electricity bills for the year in question
- Salaries of administrative staff eg the farm manager, driver (if any)
- Levies paid to the government
- Levies and dues paid to the farmers' association etc
Please note that this list is not exhaustive because I'm not a poultry farmer so I don't know all the expenses involved but the objective is to make sure you capture all the expenses involved

An addition of these cost will give you administrative expenses which you will subtract from the Gross Profit obtained above to get Net Profit or Net loss.

You need to prepare this report in a tabular form for at least the 3 most recent years of your operations.

Be sure to use only actual figures based on historical figures to prepare this report because any figure you quote here can be independently verified using your bank statements
Agriculture / Re: Help, I've Bitten More Than I Can Chew; Serious Investor/partner Needed. by NairalandAngel(m): 9:26am On May 02, 2022
OnyeObodo:
Both the person that has the thread and the person responding are one and same person. 90% certain.

Even if they are not which I know they are, people should be careful about handing over money to people like this who speak verbose English and no actual plan or content.

You may think they have sorted everything out or learnt the whole business till you give them your money. Thats when tales by moonlight start coming.

Just like he said with his other moniker "Nigerians are very terrible people and should not be trusted with money".

I'm sure you were referring to me when you said that both the OP and the person responding are one and the person.

You even stated that you have a 90% confidence level in your wrong assertion! What a joker! grin

Ordinarily I would not have deigned to respond to you but I decided to clear the air so as to disabuse the minds of people who might be interested in offering some assistance to the creator of this thread.

Cheers!
Agriculture / Re: Help, I've Bitten More Than I Can Chew; Serious Investor/partner Needed. by NairalandAngel(m): 2:59pm On Apr 14, 2022
klbakare:
And @nairaland angel, i am ready to be committed to a loan and my company assets as the collateral including the ones I will procure with your funding. Let's talk further about loan tenure, interest rates etc. We can have an e-meeting, and others reading this and very interested should please get in touch.

This is 100percent legit. I'm out to make money and to stake my company for that. Also, i do hope you have other things you can add to me, like advisories, connect. Etc. You see this connect thing is very important to me. In my wanderings in life, i know there are people who would spend this same money I'm looking for on frivolities conveniently without battling an eyelid. Also, i know there are people who are interested in this line of business but can't find trust worthy, goal getter people. So if i have connect to meet people, I'm convinced people are God's solutions to problems.

It's good to see that you have finally come up with a ballpark figure of the actual amount of capital injection you need for the project you want to embark upon.

The next step would be for you to tell a prospective investor how you intend to payback the investment.

To do this you would need to provide a brief rendering of your financial statements which will show whether or not the project is financially viable.

Prepare the financial statements for the last 3 years then also prepare projected financial statements for the next 2 years which would show what you expect it to be assuming you get the cash injection you are looking for. (In the projection you will make provisions for interest and capital payments for the loan).

Make sure that you are as detailed as possible especially when preparing the actual profit and loss statement, all revenue captions must be shown e.g
Number of chickens processed,
Sales revenue for chicken sold;
Number of eggs sold,
Sales revenue from sales of eggs
Sales revenue from processing for third parties (if any)

Expenses
Here you will detail all expenses related to the business on a yearly basis for the last 3 or 4 years

Financial projections
The financial projections will prepared in the same format as your historical the only difference is that it is based on assumptions of what you expect will be the outcome of after injection of the fresh capital

Financial statements help investors make informed decisions with regard to making investment decision because he needs to see evidence of what the company has achieved in the immediate past to be sure that there is prospect before putting his/her money at risk.

Be ready to defend figures you quote in your profit and loss statement and provide proof where necessary because anyone who wants to invest will ask you questions based on them.

Good luck

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