Top 7 Agritech Companies In Nigeria

Agritech Companies In Nigeria

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Most times people want to make money from agriculture but they are scared to lose their money.

Thankfully, technology has made life easy for anyone anywhere in the world to make money from any investment whatsoever particularly agriculture. This brought the advent of agritech companies.

The coming together of technology and agriculture has made things easy and allowed people to make money from agriculture without even leaving their houses.

What is Agritech Business?

Agritech business is using technology and technological innovations to improve agriculture output.

In simple terms, agritech is agriculture and technology. The introduction of technology will make potential investors want to use digital platforms to invest in agriculture without blinking an eye.

Do you ever wonder how do I invest in agriculture digitally? What platforms can I invest in?

In this article, I will be talking about different agricultural investment platforms (agritech companies) that you can put your money in.

Agritech Companies In Nigeria

The list of agritech companies in Nigeria that will be mentioned in this article is based on research and are in no particular order.

DISCLAIMER

This is not a financial or investment advice. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your research. I am merely sharing my opinion with no guarantee of gains or losses on investments. Your level of success in attaining the results claimed in this article will require commitment, hard-work, experience, and knowledge. We have taken reasonable steps to ensure that the information in this article is accurate but we cannot represent that the website(s) mentioned in this piece is free from errors. YOU EXPRESSLY AGREE NOT TO RELY UPON ANY INFORMATION CONTAINED IN THIS VIDEO.

Farmcrowdy

Farmcrowdy
Image From Farmcrowdy.com

The first agritech company in Nigeria is Farmcrowdy. Farmcrowdy says “they are the leading agritech company in Nigeria focused on providing the necessary tools and technology for farmers and agribusiness to boost food production with better yields, lower costs, and smarter marketing.”

The company was founded in 2016 by Onyeka Akumah. Other founders on the team are Ifeanyi Anazodo, Tope Omotolani, Akindele Phillips, Jimoh Maiyegun.

According to Farmcrowdy, since their launch, they have empowered over 25,000 farmers. They have raised over 3 million chickens over 3 years.

Farmcrowdy has its offices located in Abuja and Lagos State.

The agriculture products that you can invest on the Farmcrowdy website are maize, poultry, tomatoes, and rice. They have an investment cycle from 5 months to around 12 months depending on the product you want to invest in.

  • They have a pre-incubation period of 2 to 3 months.
  • The minimum amount that you can invest with is N 20,000
  • They are insured by Leadway Assurance

For more information on how it works, you can send them an email at [email protected]

Groupfarma

Groupfarma
Image from Groupfarma.com.ng

The second agritech platform in Nigeria that you can put your money is Groupfarma.

Groupfarma says they help you get high returns on your investment when you sponsor a farm with them.

Since its establishment, Groupfarma has partnered with over 42,000 farmers and has farmed on over 29,500 hectares of land. It is founded by Niyi Ogungbade, Folarin Oloyede, and Dotun Oloyede.

The agricultural products that you can sponsor on Groupfarma are but are not limited to Ginger, Poultry, Maize, Fish, Rice, Soybean, and so on.

The minimum amount you can invest with is #50,000 with a return on investment of at least 12% depending on the product you sponsor.

You can earn as high as 28% on your investment in 6 months if you invest in Ginger.

Groupfarma has its offices in Lagos and Ibadan. They have their farms in Oyo, Ogun, and Kaduna State.

Groupfarma has partnered with some companies like Fidelity Bank, IITA, Zenith Bank, Piggyvest, and so on.

They are insured by Leadway Assurance.

For more information on how it works, you can send them an email at [email protected]

Farmsponsor

Farmsponsor
Image from Farmsponsor.com.ng

Third, on the list of agritech companies in Nigeria is Farmsponsor.

According to them, they say “they leverage technology to create an inclusive platform where everyone can be involved in agriculture.

Farmsponsor was formed in 2018 by Bill Kenneths. As the name implies, you bring a certain amount to sponsor any farm of your choice and you collect your returns at the end of 12 weeks.

Since its establishment, Farmsponsor has partnered with over 300 farmers and has had over 4,000 sponsors on over 1,000 farms.

They also allow for equity sponsorship. You bring N 1,000,000 to sponsor a farm for 5 years which is a medium-term investment. 

The only agricultural product you can invest in is chicken with a minimum amount of N 100,000.

Farmsponsor has an ROI of 15% within 3 months.

Farmsponsor has its office located in Port Harcourt, Rivers State.

For more information on how it works, you can send them an email at [email protected]

FarmKart

Farmkart
Image from Farmkart.ng

The next agritech company you can put your money in is Farmkart.

Farmkart says they help you invest in farming to increase food production, and support farmers.

Farmkart was started in December 2015 by Jesse Osiobe alongside other founders like Evans Akanno, and Temitope Aina.

The agriculture products that are available on Farmkart website for investment are Fish and poultry. Their investment period ranges from 6 months to 12 months with a minimum return on investment of 14%.

 Farmkart has its office in Ogba and its farm in Otta, Ogun State. They are insured by Leadway assurance.

For more information on how it works, you can send them an email at [email protected]

Thrive Agric

The next agritech platform you can invest in is Thrive Agric. The company was established in 2016 by Uka Eje who is Co-founder and CEO alongside Ayodeji Arikawe (Co-founder and CFO).

According to Thrive Agric, they say they are an agricultural technology company making agriculture profitable for you and Africa’s smallholder farmers by providing access to finance.

Thrive Agric has worked with over 19,000 farmers and has farmed on over 150,000 acres of land.

They have their office located in Abuja.

Their ROI goes from 6 – 25 % within a stipulated period of time.

For more information on how it works, you can send them an email at [email protected]

Ezfarming

Ezfarming
Image from Ez-farming.com

Another agritech platform that I will be talking about is Ezfarming. Ezfarming was established in the last quarter of 2018 by Adewale Oparinde.

They have empowered over 100 farmers, farmed on 200,000 acres of land, and invested over 800,000 dollars.

The agricultural products that you can invest in on Ezfarming are but not limited to Poultry, groundnut, maize, farm equipment, goat, etc. The minimum amount you can use to invest is N 41,000 with a return on investment of 15%.

Their investment in Farm Equipment has the least ROI of 7% for 36 months. You also have the option to own your farm with a token of N 285,000.

Ezfarming also offers internship opportunities to empower youths and encourage them to go into commercial farming.

For more information on how it works, you can send them an email at [email protected]

Payfarmer

Payfarmer
Image from Payfarmer.com

Next on the list of agritech companies in Nigeria that you can put your money in is Payfarmer. Payfarmer was founded by Bamidele Alimi in 2019. They say “they are passionate about bridging the gap between investors and agriculture”

At Payfarmer, they have a range of agricultural products you can put your money in, ranging from Poultry, yam, catfish, pepper, and so on. Their head office is located in Epe.

The minimum amount you can invest with is N 25,000 and gives a return on investment of 12% in 5 months.

Within the short period of operation, they have connected over 1,800 farmers and 6,488 investors.

For more information on how it works, you can send them an email at [email protected]

Other Platform You Can Invest In is:

Piggyvest

Piggvest
Image from Piggyvest.com

This is a savings and investment platform that has been tested and trusted. Piggyvest formerly known as Piggybank was founded in 2016 as just a savings platform. It later added investment opportunities for its savers.

There are different agriculture opportunities that you can invest in through this platform. You can start investing in Piggyvest with as low as N 5,000.

For more information, you can visit their website or send them an email at [email protected]

If you want to get started, sign up using this link https://www.piggyvest.com/?newref=1&ref=1aeaa112cd

Things To Look Out For Before Investing In Agritech Companies

There are various agritech companies in Nigeria you can choose to invest your money in but there are things you need to look out for so you don’t fall victim to scam.

Before investing in any agritech company, you must make sure the following checklist is being ticked.

Registration And Regulation

The first thing to look out for in any company before investing in them is the registration and regulation of the company.

All companies in Nigeria are registered with the Corporate Affairs Commission and regulated by the Security Exchange Commission (SEC). Before putting down your cash, make sure you ask and carry out your findings to see that the company is registered and regulated by the appropriate authorities.

If the company cannot provide this information, do not INVEST

Company Structure

The next thing to check before investing in any agritech company is the company structure. After confirming if the company is registered and regulated, you need to make sure the company structure is strong and standard.

Insurance

Another thing you need to check before investing in any agritech platform is the insurance. Aside the fact that your investment is insured, you need to confirm what is covered in your investment policy.

Most agritech companies are insured by Leadway Assurance Ltd. You can check their page to see if the company you want to invest in is insured by them, and what is being covered in your investment.

You need to read and understand very well the insurance policy of the company, ask questions if need be before splashing that cash.

Do not let any marketer cajole you into investing without first understanding the policy.

Location

The next thing you need to look out for is the location of the company. You need to be able to access the company address at any time. Their physical location is somewhere you should walk into at any time to ask questions. You should also do some secret findings to make sure that the company truly carry out their daily business in the location they claim to have.

Also, you should have access to the farm location where you want to invest in. For example, if you want to invest in catfish, ask that you want to visit the farm where they are raising the fish. If they are not ready to take you there before putting your money, then back out, do not INVEST.

Return On Investment

The last thing you need to check before investing in any agritech company is the return on investment. If the return on investment promised is too good to be true, then it’s probably a scam.

The reasonable return on investment for any agricultural product that agritech companies can give should be within 5% and maybe 35% within a short time. If it’s more than that, then you should be vigilant.

Every investment whatsoever is a risk, you cannot be too careful when trying to make money digitally. Nevertheless, following these steps doesn’t guarantee that things will go smooth or the way you want them to go, but the steps above will serve as a guide to safer investment in agritech companies.

Conclusion

The choice of agritech company or companies you invest in is left for you to decide. Make sure you do your due diligence, check all documents, read the policy, and understand them well before putting your money into any company.

Doing this will somehow safeguard your investments from fraud.

If you are ever confused about anything, ask questions and make you are convinced.

If you are not satisfied, it’s better to involve the service of a professional like an accountant and a lawyer to help shed more light on things.

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