Somali startup Agrikaab (formerly Ari.farm) folds

[repo]

Somalia's agrifood startup Agrikaab shuts down its goats and sheep farms

According to Agrikaab, they “informed users who invested in the goats and sheep”. Agrikaab added that they “will take responsibility

digestafrica.com

Crowdfarming is being used to bring Somalia’s livestock market into the digital economy

African start-ups are committed to crowdfarming as an avenue for investment and social impact.

qz.com

 

[Removed]

Happened a while ago this was there cover screen months ago. I suspected Corona.

 

[repo]

Happened a while ago this was there cover screen months ago. I suspected Corona.
View attachment 132978

Their reviews are not good.

Agrikaab - This is a scam..
This is a scam... I invested in the beginning but when I sold the livestock in beginning of 2019 but they didn´t have any money should pay out later... I waited a year... now when I contact them the money is gone... But they still running the companies and still looking for new investors all the time... but never tell anyone that they have money issues... In mars 2019 they were missing 80.000 USD

Super strange to me... But I guess it´s easy to scam people when it´s hard to control... and sounds like your doing goof for the the people in Africa.

I don´t care about the money because I knew it was a big risk... But when people are scamming others and continue doing it. It´s not ok!

"Because one project failed doesn't mean we have to stop all the other projects. Every project has its own merits, risks, and rewards. Some succeed and some fail. We do not mix the finances of one project with others." ????

On normal companies if one project fails the other projects pays for the others mistakes. And in Swedish newspaper you told that money was going to be payed from profits from other projects..

"We communicated well about the issues we had with this project and the losses."

No... Not in one newsmail, facebook or homepage you informed the public about the "mistakes"... But when press starting to check up on you... Then you tell... You stopped the farm in late 2018... december 2019 I got the info that I´m not going to get any money back... When I asked for the 3:rd time...

Dear Johan, it is unfair to call our company a scam. Your complaint is related to the Goats and Sheep project which we closed at the end of 2018 due to losses. We communicated well about the issues we had with this project and the losses. We have paid out all the revenues we received from the project and informed everyone else about the losses. As you acknowledge there are risks with our projects and sometimes these risks are beyond our control. We have done the best we could do about this situation.​

​

Because one project failed doesn't mean we have to stop all the other projects. Every project has its own merits, risks, and rewards. Some succeed and some fail. We do not mix the finances of one project with others.​

​

Best wishes​

Agrikaab (formerly Ari.farm) Team​

 

[BobSmoke]

When I hear cryptocurrency, I log out. Red flag of all red flags
When people talk about investments and cryptocurrency, best believe it's a red flag that they don't know shit about shit and they're tryna lead a fool into a baxar.
I've tryna buy Bitcoin back in 2011 twice and once in 2012. Got finessed on all of them and since then, I got allergic to cryptocurrency. Gambling on a concept whose worth is based on nothing. f*ck that sxb

 

[repo]

When I hear cryptocurrency, I log out. Red flag of all red flags
When people talk about investments and cryptocurrency, best believe it's a red flag that they don't know shit about shit and they're tryna lead a fool into a baxar.
I've tryna buy Bitcoin back in 2011 twice and once in 2012. Got finessed on all of them and since then, I got allergic to cryptocurrency. Gambling on a concept whose worth is based on nothing. f*ck that sxb

They took crypto as funding which they could have converted to real fiat. I agree crypto is in general is a scam I wouldn’t sit on it but it would take it.

 

[Abaq]

You can make good money from goats and sheep, but the moment you start to industrialize it Western style with feed and fertiliser, you'll make a huge loss. Your ranch needs to be able to provide the water and grazing the animals need without any outside input. Your only expenses should be farm labour and the occasional vet visit. Even then if you selectively breed, ensure a healthy soil, and use natural traditional remedies (the old folks all know them) you can cut on vet costs.

If you do this, you can make serious money from goats and sheep. They give birth twice a year, and each birth is usually twins and some triplets. Real money right there.

 

[BobSmoke]

You can make good money from goats and sheep, but the moment you start to industrialize it Western style with feed and fertiliser, you'll make a huge loss. Your ranch needs to be able to provide the water and grazing the animals need without any outside input. Your only expenses should be farm labour and the occasional vet visit. Even then if you selectively breed, ensure a healthy soil, and use natural traditional remedies (the old folks all know them) you can cut on vet costs.

If you do this, you can make serious money from goats and sheep. They give birth twice a year, and each birth is usually twins and some triplets. Real money right there.

100% agreed.
Had they been using Permaculture, they would make profits on the livestock and off the land in a circular fashion