An agro-tech startup is helping smallholder farmers in Nigeria connect with middle-class citizens who can supply some much needed capital. The startup’s crowdfunding model allows Nigerians to sponsor existing farms for between $260 and $790. In return, upon harvest, farm sponsors earn between 9% and 25% profit on their initial investment. Having been successful so far, the startup could potentially help the Nigerian government achieve one of its often discussed ambitions: getting more Nigerians to practice farming. That ambition is largely driven by the government’s desire to boost food self-sufficiency, reduce imports and diversify its oil-dependent economy.
This startup is using technology to get Nigerians to farm again
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