We’ve designed specific payout timelines, Agropartnerships tells investors

Agropartnerships, an agritech crowdfunding platform, says it has designed specific payout timelines to settle investors.

Agropartnerships is an investment platform powered by Farmforte Limited.

Uyi Osayimwense, co-chief executive officer of Agropartnerships, made this known on Wednesday in a video posted on the company’s official Instagram page.

TheCable had reported that Agropartnerships and similar agritech businesses have been unable to pay their investors’ money, both capital and profit.

Apologising to investors, Osayimwense explained that the delayed payout was caused by global supply chain disruptions, which impacted the company’s ability to obtain parts of machinery for processing facilities.

He added that the COVID-19 pandemic affected its business operations.

“In the past few weeks, many of our partners and investors have had to deal with the inconvenience of delayed cycle payouts of their investments,” Osayimwense said.

“On behalf of the management team, I would like to sincerely apologise for this (delayed payout of investment) and express that we deeply regret the situation.

“While we’re deeply sorry for the turnout of events, we understand that sincere actions speak louder than words this is why our team has been working assiduously over the past few weeks to answer two pertinent questions; how did we get here and how do we make sure that this never happens again.

“This is a turning point for us given the track record with over sixty thousand subscribers and over twenty thousand successful payouts over the last four years.

“We understand absolutely how disappointing this had been, however, I want to assure you; our esteem partners, that we cherish the hard-earned trust that you put in us, and that’s why we have taken corrective measures to make sure that this never repeats itself.

“We appreciate your passion, your endurance and your patience, and we take seriously our responsibility to ensure the safety of your investment.

“To this end, we have designed specific payout timelines, and we look forward to sharing this with you on the 18th of February during our town hall meeting.

“For certainty, our highest priority is the confidence of our investors and their inspiration, progress and safety.

“We remain absolutely committed to the sustainable development of an agricultural chain of Nigeria, and we’re glad to be your partner in progress within the ecosystem.

“Thank you all for the support and the loyalty that you’ve shown us through this period. Once again, we want to give you full assurance that your investments are safe with us.”