SENCE Agric introduces its first ever agriculture crowdfunding project. This presents you with an opportunity to be a part of the Nigerian Agriculture sector and invest in the small establishments that the big investors consider too small for their investment needs. The good thing about crowdfunding is that you invest as little or as much you can, making it possible for most people to participate. We hope you will take advantage of this opportunity.
About the Farm
Selema Farms Limited is a company with two sub-farms namely Selema Farm Fresh and the Oloba Cattle Ranch. Selema Farm Fresh is a major player involved in the importation and wholesale distribution of fruits and vegetables, while Oloba Cattle Ranch is involved with the supply of organic small ruminant meat across the country. Selema Farms took over Oloba Ranch from the Osun State Government in July 2016 for the primary focus of Livestock Farming, Processing and Ranch management. The ranch currently has 6 pens each with the capacity to accommodate 700 animals. Their production target for now is 250 goats and 60 cattle weekly.
About this project
Since Selema Farms took over the ranch, they have been engaged in goat and cattle production and for this period, will engage in ram production specially for the upcoming Sallah celebration in September. The idea is to purchase a minimum of 2000 rams and fatten them in preparation for sale during the festive season. Three specific breeds of rams are intended to be sold and they include; the Balami, Ouda and Yankasa breeds. These breeds have been proven to survive under harsh conditions. Considering that, Osun State where the farm is located has a high concentration of Muslims, they anticipate huge sales and very good profit.
How is the Selema Farms’ Sallah Special crowdfunding structured?
A minimum of N150,000 plus a non-refundable administrative fee, equivalent of 5% of the amount contributed is to be paid by interested persons to SENCE Agric. All payments are to be made to SENCE AGRIC LIMITED; Union Bank Plc, Account number: 0053276666. SENCE Agric based on agreed terms will disburse same to Selema Farms for the purchase of the Rams. Selema Farms will then commence the process of fattening the rams in preparation for sale during the festive season.
SENCE Agric throughout this period, will monitor the process to ensure that due care and consideration is exercised and all quality standards maintained. Once the rams are ready for sale, we would also monitor the sales of the ram to ensure that all monies are accounted for and your interest protected. All proceeds from the sale of the rams will be paid into a joint account between Selema Farms and SENCE Agric. Once the revenue has been realised, SENCE Agric will begin disbursement of dividends to investors based on the amount invested and income earned.
N.B: the administrative fee does not attract any interest.
Risks and Challenges
Livestock production is affected by uncertain factors such as rainfall, pest and diseases. These factors especially the attack of pest and diseases could cause the death of any affected animal. This is referred to as the “mortality risk”. Normally 10% mortality rate is usually set aside when dealing with livestock production because it would possibly affect the projected income thereby having adverse effect on the return on investment. Thankfully, Selema Farms has put in place suitable housing structures to protect the rams from harsh weather conditions during the fattening process and made provision of veterinary doctors who will keep the rams’ health in check.
A crowdfunding contribution of up to N60 million will enable Selema Farms to purchase 2000 Rams for resale at a later date
Crowdfunding Length: 4 months
(May – September 2017)
Repayment schedule: From 16th October 2017
Final date of Payment: May 30th, 2017
Mortality risk: 10%
Minimum contribution: N150,000
ROI: Minimum of 20%
Facilitated by: SENCE Agric
Thank you for your interest in this our first step towards helping the small agribusiness owners in Nigeria. We hope this would be a rewarding experience and the beginning of many such successful ventures together.
The SENCE Agric Team
Combined with the minimum 20% interest, the listed incentives will be given to the following categories of contributors:
Pledge N500,000 or more: A public thank you shout out from Selema Farms on SENCE Agric Facebook page.
Pledge N1.5 million or more: A personalized “thank you” from Selema Farms + mention on the page.
Pledge N2 million and above: Your name listed on our websites as a platinum supporter of the first organised SENCE Agric’s crowdfunding project in addition to all the others.