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Nigerian Farmcrowdy launches mobile app for farm sponsors and enthusiasts

14 Nov 2017, 12:58 pm
Financial Nigeria
Nigerian Farmcrowdy launches mobile app for farm sponsors and enthusiasts

News Highlight

Agritech startup marks its first year of operations with the launch of a new mobile app aimed at increasing participation in agriculture by Nigeria’s growing middle-class, diaspora and youth.

Farmcrowdy App in Use

Farmcrowdy, a Nigerian digital agriculture platform, today announced the launch of its first app for Android, iOS and Windows mobile devices. The Techstars Atlanta alumnus also announced its introduction of a new category of funding small-scale farming in Africa by allowing Nigerians to venture and sponsor agriculture.

Farmcrowdy is reshaping the way in which people participate in farming and food production, through using their online platform to source funds from sponsors, whose money is used to secure land, plant crops and meet the funding needs of boosting food production with small-scale farmers.  

Since the launch of its website 12 months ago, Farmcrowdy has recorded close to 1,000 unique farm sponsors, aggregated a combined 4,000 acres of farmland in Nigeria for farming purpose and grown over 150,000 organic chickens to date, according to a statement it shared with Financial Nigeria today. Farm sponsors can expect to see returns after harvest of 6-25% between a 3-9 month period, depending on what farm type they choose, according to the statement.

Having worked with close to 2,000 small scale farmers in Nigeria already, the vast majority of Farmcrowdy sponsors are based in Nigeria, whilst 10% are located in the US and UK.  

With another 6,000 online ‘followers’ visiting Farmcrowdy’s website every week, the launch of its new mobile app will provide a more accessible platform for agriculture enthusiasts to experience, learn and appreciate agriculture practice first-hand. Farmcrowdy currently provides regular updates, images and videos from the farmers as they work on the sponsored farms, providing an opportunity for their sponsors and farm followers to digitally track the journey of their sponsored farm through regular updates.

“We have launched the Farmcrowdy app to provide an accessible, real-time platform for people on the go, who do not want to miss out on empowering their own communities,” says Onyeka Akumah, Co-Founder and CEO of Farmcrowdy.  “In the past month alone, we have witnessed over 500 farm units of poultry - 25,000 chicks - sell out in a few hours to engage farmers who would have found it difficult accessing loans in the banks; so it’s super fast-paced. People are equally excited about creating impact in the lives of our farmers while earning a decent return.”

Currently operating in eight states across Nigeria, farm sponsors can choose to sponsor a variety of farm types including cassava, maize, rice, soya beans and poultry (broiler chickens for meat); with cycles lasting between 3 to 9 months depending on the farm. Farm sponsorships start from N96,000 [$270], and Farmcrowdy coordinates pre-arranged buyers to sell the farm harvest when the cycle is complete. The farm profit from the harvest is then split between the sponsors who receive 40% of the harvest profits plus their original sponsorship, while the farmers receive returns of 40% and Farmcrowdy gains 20% of the profits.

More than 80% of farmers in Nigeria operate on a small-scale level and it is currently estimated that 38 million of them are unbankable. Farmcrowdy, through pairing farmers with sponsors to effectively manage the farming cycle with training in smart farming techniques, supply of equipment and technical support, has over the last 12 months, ushered close to 2,000 small scale farmers into the financial ecosystem, making them financially inclusive.

The app, which is now available for download in Google Playstore, with Apple and Microsoft following suit soon, will through an accessible information feed and push notifications, allow users to view available farms, follow existing farms, provide ease of communication with farm account officers and allow the facilitation of easy feedback and comments.

Onyeka Akumah adds, “This app provides a safe and reliable platform for agriculture enthusiasts to participate in this growing sector from a knowledge stand-point to making informed decisions about exploring opportunities in farming.”

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