Farmcrowdy Group, a tech-driven agriculture company, has announced the unification of its subsidiaries, namely, Farmgate Africa and Agricsquare, under Farmcrowdy, its flagship company.
This unification creates a bigger Farmcrowdy and will increase its impact in the agriculture value chain. Leveraging the strengths of these subsidiaries, Farmcrowdy will be engaging in the core crop farming process, production and trading of commodities and marketing media for agriculture.
In a statement made available to benjamindada.com, the Managing Director of Farmgate Africa, Kenneth Obiajulu will oversee the trading aspect of the 'new' entity, while Temitope Omotolani, the Chief Operations Officer of Farmcrowdy will oversee the production side (including crop and feedlot production) of the new Farmcrowdy.
Farmcrowdy says it is also seeking new partnerships as it plans to expand into four more states while increasing its daily supply of cows to hotels, retailers and eateries across the country from 50 to 100 by the end of 2019. Farmcrowdy recently partnered with Livestock247—an online marketplace for livestock—andBest Foods Livestock and Poultry Limited—a leading agribusiness company.
On April 2, 2019—two weeks after the launch of Farmcrowdy Group—Farmgate Africa went live as a subsidiary of the Group. Farmgate Africa was launched as the solution to the problems of market access such as ineffective communication, duplicate products, unregulated prices and poor after-sales service. Its focus is to provide major processors and international buyers the opportunity to purchase commodities directly from local farming clusters.
According to the statement, all sponsorship options previously available on Farmgate Africa platform will now reflect on the Farmcrowdy platform. These sponsorship options include beef processing, ginger farms, cattle farms and poultry farms.
As a result of this unification, the Farmcrowdy Group now has only one company under its portfolio.
The CEO of Farmcrowdy Group, Onyeka Akumah, said:
This process has always been in the plan to attract more talent, expand Farmcrowdy’s reach in the agriculture value chain and provide more options for sponsors
Farmcrowdy, which was founded in 2016, is currently operational in 14 states across Nigeria and has signed up 25,000 farmers into its programme. It has cultivated over 16,000 acres of farmland and recently raised additional $1 million in seed funding.