Business

Payouts to resume in July, Agropartnerships assures investors

Author:
Wasilat Azeez

Agropartnerships, an agritech crowdfunding platform, says payouts will resume in July 2022.

Agropartnerships is an investment platform powered by Farmforte Limited.

The company shared the update during its latest stakeholder meeting, which also featured the presentation of a consolidated payout plan.

In recent weeks, many of the company’s partners and investors have complained about delayed payouts.

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At the meeting, Uyi Osayimwense, co-founder and co-chief executive officer of Agropartnerships, told stakeholders that the company is working relentlessly to strengthen its pillars for longevity.

Osayimwense said the payout strategy presented would enable the business to fully return to healthy financial standing.

He said it would also ensure that partners are paid in the earliest possible time frame.

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“We have spent a huge amount of time since the last webinar with our team of experts, speaking with employees, contractors, institutional investors, agencies, technical partners, and some agropartners,” Osayimwense said.

“I can assure you that everyone has worked tirelessly with us and our internal teams to fully analyse the situation – past and future maturing cycles, operations, future cash flows, risks, and opportunities.

“It is based on the outcome of this deep assessment that we have come up with the most viable way out of the present challenges.”

Also speaking on the payout schedule, Osazuwa Osayi, co-CEO of Agropartnerships, said: “To this end, we have halted all payouts from February 18. While we plan to begin interest payments in July 2022, all payments will be made in three batches; July 2022, October 2022, and February 2023.”

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