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FAQ

FAQ

General

Can investors take advantage of making money through bulk purchase/distribution of the company’s terrestrial products?

Yes, they can! Depending on their target market and price negotiation skills, they can get bulk purchases at favourable prices add sell with a reasonable mark-up.

How can I be sure my investment is safe?

Investors could be sure of maximum security on their investment as Farmkonnect holds the security of its sponsors, staff and projects as very paramount. Farmkonnect explores numerous opportunities offered by insurance companies in risk mitigation. Working in Partnership with NACCIA, Agfin, NAIC and Leadway, Farmkonnect operates to enhance a fully covered business and easy access to finance for its clients and sponsors. Our business is such that within few days of full subscription to any of our packages, investors are issued ownership license and insurance certificate on their investment.

 
 
How do I monitor my investment myself?

There is provision for a software application through which customers could monitor their investment portfolios. Customers are also issued access card to visit the farms to see for themselves activities going on in the farms. Therefore we operate chiefly to guarantee the maximum satisfaction of our clients or investors.

How quality are the company’s terrestrial products, and how are they different from the ones I can get anywhere?

The company’s terrestrial products are produced and acquired from certified producers with internationally recognized quality assurance bodies like the International Standard Organization (ISO), Standard Organization of Nigeria (SON) etc.

If members of a family invest, is there a special package for them?

Currently, there is no special family package. A member of a family only get bonuses on others’ investment if they invested through him/her.

What happen if a sponsor does not invest regularly?

There is no problem if a sponsor does not invest regularly. It is only that return on investment depends on the investment mad e by the investors.

What is FarmKonnect all about?

Farmkonnect Agribusiness Nigeria Limited is an agribusiness company in Nigeria and the first Agricultural real estate company in Africa which seeks to enhance farming conditions and outputs of farmers by providing innovative services with a view to facilitating better operating conditions, equipment and effective distribution of farm produce. Our business is to connect stakeholders, smallholder farmers, investors and smart individuals in the Agricultural sector.

What is premature liquidation?

Premature liquidation means termination of investment and withdrawal of same before the actual time agreed in the terms of the investment package.

What is premature liquidation?

Premature liquidation means termination of investment and withdrawal of same before the actual time agreed in the terms of the investment package.

When shall bonuses and privileges be due for withdrawal from sponsors’ accounts?

Withdrawal of bonuses and privileges depend on the terms of the investment package concern. It may take as short as 3 months as we have in the Military Standard Package to 2 years in term packages.

Why should I invest my money in FarmKonnect?

With over a decade of cumulative experience in the agro-allied and agribusiness industry and success testimonials from our clients and sponsors, FarmKonnect has distinguished itself as an influential company in the nation’s food system and national income. FarmKonnect generally aims to create wealth and wider economic opportunities to as many people that are willing to invest in Agriculture as well as promote food security and empower youth and women through farming. Our business hinges on the philosophy that food availability and sustainability as well as ability to earn income are key to individual growth and national development.
Therefore we operate chiefly to guarantee the maximum satisfaction of our clients or investors.


Greenhouse

Can I invest above 1.3 Million Naira?

Investors can invest above 1.3 Million Naira if capable.

Can I invest in more than one slot?

Investors can buy as many slots as they can afford.

Do I have the right to visit the Greenhouse?

Investors have the liberty to visit the farm at their convenience.

For how long will an investor own a Greenhouse?

15 years.

How could I be part of the greenhouse investment Package?

To be part of the greenhouse investment package, you can talk to our customer care representatives who will guide you on the processes involved and feed you on the terms and conditions of the package.

How long does a cycle last in the Greenhouse project?

Six months.

How much does it cost to invest in a Patch?

One hundred  and fifty thousand Naira (N150,000).

What if I don’t have up to 1.3 Million Naira, can I still invest?

Of course, investors can invest in a Patch or Half-Unit. These packages are designed to meet the budget of investors with less than 1.3 Million Naira.

What is the greenhouse package?

The greenhouse package is an Agricultural Real Estate Plan which gives investors the opportunity to own a greenhouse at 1.3 Million Naira with a return on investment of 500,000 Naira every six months for fifteen years. The greenhouse package has a flexible structure such that investors could own more or less than a unit of the greenhouse and make returns in proportion to their investment.   The pay out on a greenhouse is 300,000 Naira per cycle. This is however a promo that is currently open to our investors.

What is the return on investment of a Unit?

Five hundred thousand Naira.

What is the return on investment of an Enclave?

10.4 Million Naira.

Where is FarmKonnect’s Greenhouse project located?

FarmKonnect has two Greenhouse farms; one known as the WaVe city is located in Wasimi, Osun State, and the other known as the Navigand clusters is located in Omuagwo, Imo State, Nigeria.

The Basal Plan

Are you really sure I can cash out my money after 13 months?

Yes, you can cash out your money after the 13th month.

How will I monitor my contribution on my phone?

You will be able to monitor your contributions through our app that will be installed on your phone.

Is there a unique referral code or how will the person I register be attached to me?

You will be given a unique referral code.

Some months have 31 days while some are 30 and 29. What if I decide to contribute N15,000 per month instead of N500 per day, will it still match up?

Yes, you can choose to pay daily, weekly or monthly. Your convenience is our greatest concern.

What agricultural area exactly will you be working with the contributions?

Our Investors’ money are invested in crop farming and agricultural real estate.

What if I want to leave my 12 months contribution for 26 months, will I get double of what I was supposed to get after 13 months?

Yes, you get double returns for two slots.

Will I be paying the money to a bank every day or to whom?

You can pay to the bank or our agents.

The Standard Package

Do I have to come around to see the farm or whatever is being used for?

Not necessary, we manage the farm but you can come around anytime you want.

How do I make the payment?

You can pay through your account on our website or make transfer to our bank account.

How do I monitor my investment myself?

You will be able to monitor your contributions through our app that will be installed on your phone.

How many slots can an individual have?

You can own as many investment slots as possible.

Is this a legit business?

Yes, we are duly registered with CAC

Please explain this more ‘Selling for as low as N50,000 for a return as high as 45% per annum on 3.75% investment per month.

A slot of the standard package sells for 50,000 Naira with a return on investment of 45% yearly or 3.75% every month. However, sponsors could have as many slots as they can afford.

What agricultural practise will the investment be used for?

Crop farming and agricultural real estate.

What happens to the contribution in case of death?

Your investment account/s will be transferred to your next of kin.

The Term Package

How do I activate my package?

You activate your investment package by paying for the package you are interested in.

How many slots can one investor have?

You can own as many investment slots as possible.

Where will I pay to?

You can pay through your account on our website or make transfer to our bank account.

State and Business Representatives

How do I handle costs associated with training?

Every training organized for the business executives must be well-documented and the costs back up with evidence of payments (receipts).

How soon should a representative produce 10 business representatives from onboarding?

As soon as possible.

In what for form does NACCIA involve individual financing since the document states there is no out-of-pocket expenses in registration?

NACCIA does not involve any individual financing, costs involved from the point of purchase of the forms up to the sales of the products. However, as the farming operations progresses, these costs will be deducted from source (loan granted) and profits delivered to the farmer.

To what extent can I represent the company in my jurisdiction?

Since every on-boarded representative is equipped with the necessary items to function, they are expected to discharge their duties by taking initiatives and intimate the management when major decisions have to be taken.

What are 1st and 2nd generations?

1st generation is the level at which a representative/investor directly referred someone for the first time while the second generation is the level at which the person referred at the 1st generation refers another person. 

When shall bonuses and privileges be due for withdrawal from sponsors’ accounts?

Withdrawal of bonuses and privileges depend on the terms of the investment package concern. It may take as short as 3 months as we have in the Military Standard Package to 2 years in term packages.

Why can’t I make withdrawal less than #30,000 since it is my benefit?

There is a need to maintain certain level of liquidity in the account.

Why is ASEF targeting 15000 people in the whole of Africa?

The idea around ASEF is to mentor a number of agri-preneuer by thoroughly taking them through the principles of agribusiness, financial management and financial empowerment to succeed in farming. Each of these 15000 can then go on and mentor other youths and then we have a chain reaction of agribusiness mentorship in Africa.

Igbeja Snail Project

Can I invest above 1.6 Million Naira?

Investors can invest above 1.6 Million Naira if capable.

Can I invest in more than one slot?

Investors can buy as many slots as they can afford.

Do I have the right to visit the Snail village?

Investors have the liberty to visit the farm at their convenience.

For how long will an investor own a Snail Facility?

10 years.

How long does a cycle last in the Greenhouse project?

Nine months.

How much does it cost to invest in a Cluster?

120 Million Naira.

How much does it cost to invest in a Unit of the snail facility?

24 Million Naira

How will I have access to the Snail Farm?

Investors will be granted access card which shall serve as their pass to the farm, and they can see for themselves activities going on in the farm. 

Tell me about the Igbeja Snail Village?

The Igbeja Snail Village (ISV) is a self-sustaining multimillion dollar project of FarmKonnect Nigeria (in partnership with and under the tutelage of Touchstone Snail technology Limited, Lanacra, Cyprus). The snail facility is located in Igbeja, Okemesi area of Ekiti state, Nigeria, and is the largest in Africa. The first phase of the project will house a hundred units of Snail breeding facility and will produce a minimum of 2.6 Million Kg (2,600 Metric tons) of Snails per Annum.

What if I don’t have up to 1.6 Million Naira, can I still invest?

Of course, investors can invest in other subsets of the investment.

What is the return on investment of a Cluster?

70 Million Naira.

What is the return on investment of a Pack?

Eight hundred and fifty thousand Naira (N850, 000).

Where is Igbeja Snail Village project located?

The Igbeja snail village is in Okemesi, Ekiti State, Nigeria