This archive report was first published on 31 July 2019.
On July 31, 2019, Farmcrowdy, a pioneering agriculture platform in Nigeria, announced a significant consolidation move by bundling its sister companies, Farmgate Africa and Agricsquare, into one entity.
This strategic move aims to create a stronger foothold in the agriculture value chain, enabling the combined entity to deal with core crop farming processes, production, trading, and marketing of commodities.
According to Farmcrowdy, the consolidation will allow the company to expand its reach and offerings, providing investors with access to a broader range of agricultural projects, including beef processing, ginger farms, cattle farms, poultry farms, and more.
The company's founder and CEO, Onyeka Akumah, will become the chairman of the newly formed entity, while Kenneth Obiajulu, the MD for Farmgate Africa, will oversee the operations of the Farmcrowdy Group.
As part of the consolidation, Agricsquare, a community of over 20,000 agriculture enthusiasts, will continue to run as a product of Farmcrowdy.
With this move, Farmcrowdy aims to attract more talent, expand its reach in the agriculture value chain, and provide more options for sponsors on its platform.
Since its inception, Farmcrowdy has been operational in 14 states across Nigeria, signing up over 25,000 farmers into its program and cultivating over 16,000 acres of farmland.
