Being victims to fraudsters in Lagos motivated these entrepreneurs to found their agritech startup that helps people interested in acquiring land for farming with verification, documentation and operational services.
Since 2016, the agritech industry has witnessed a growing interest in countries, such as Kenya, Nigeria and Ghana. In Nigeria, President Muhammadu Buhari identified the sector as a viable option to achieve the diversification of the nation’s economy in a bid to rid Nigeria of her oil dependency.
Africa has a food shortage problem with 20% of her population experiencing hunger according to World Vision. With a rapidly increasing population, there needs to be an increase in food production if Africa is to meet her food demand.
Startups leveraging technology to solve food insecurity in Africa have attracted sizable investments from venture capitalists totaling up to $6.7 billion in the past five years.
Farmaax, a Lagos-based agritech startup is joining the list of African companies that are on a mission to help Africa meet her food demand.
Set to launch on February 27, 2021, the startup has developed an innovative solution to solve the problem of food insecurity through the provision of secure and affordable arable farmland, access to market for smallholder farmers and an opportunity for corporate workers to make farming investments.
Farmaax’s team comprises the co-founder and CEO Nsirim Emmanuel Segun, an experienced legal practitioner in property and corporate law; Adeyemi Segun, an experienced software developer who serves as the CTO; Amachukwu Excel Chinemerem, an experienced human resources personnel acting as the COO. The idea for the company began when the co-founders where undergoing the compulsory national youth service.
Beyond offering advisory services to intending farmers seeking to acquire a land, Farmaax helps them with their hiring and in finding capital.
According to Segun, the innovation in their solution is that they offer an opportunity to experienced farm managers in different areas of farming to register on their platform. “Our uniqueness shows in the fact that our lands are registered, verified and are tailored for farmers. Our platform is seamless as with a click on your mobile device everything is started and completed. We also provide other services to ensure farmers success, thereby making us a One-Stop shop for farmers,” he says.
As with many startups during their early days in this part of the world, Farmaax has been self-funded along with generous donations from family and friends.
Farmaax wants to connect real estate experts with intending farmers. They plan to onboard 100,000 brand consultants and realtors and reach out to 100,000 smallholder farmers. “Currently, we have started preregistration for consultants, lawyers, marketers and realtors, it is N5,000 instead of the normal fee of N15,000. It will give them the opportunity to leverage on the company’s platform to make at least N450,000 monthly,” Segun says.
Providing access to market for farmers is also a plan of Farmaax. “We look forward to supplying fresh farm produce directly from the farm to our customers through our store and market,” he adds.
You can register to be a consultant, lawyer or realtor on the platform through this link.
Through Farmaax, Segun hopes to provide transparency in the real estate space so that farmers seeking to acquire lands never have to experience what he did in the hands of scammers.