Have you heard of Foxygreen Agri-tech Investment in Nigeria?
Are you looking to invest in one of their agricultural projects?
If yes, then you need to read this review to know if investing in Foxygreen is worth the investment or not.
In this review article, we’ll be looking at the Foxygreen investment proposition, and the pros and cons of investing with them.
This review is only for information purposes only. So, the prerogative is yours to choose whether to invest or not to invest.
Let’s learn more.
What Is Foxygreen All About?
Foxygreen is an Agri-tech inclined multipurpose cooperative with an initiative to help investors invest in the agricultural sector in Nigeria.
The company is registered with the Corporate Affairs Commission (CAC) of Nigeria as Foxy Green Hub Resources Limited.
The company’s agricultural projects include broiler rearing, egg distributorship, maize farming, and watermelon, soyabean, and vegetables planting.
How Does Foxygreen Make Money?
Foxygreen makes money in two ways.
First, it is a multipurpose cooperative, so members pay to join, which is an avenue to make money.
Secondly, Foxygreen makes money from proceeds of their agricultural projects.
When members invest in Foxygreen’s agricultural project, they share the proceeds or yield with their investors.
How to Invest in Foxygreen
To invest with Foxygreen, you first have to become a member of the cooperative. You can sign up via their website.
Once you become a member, you would be given a membership certificate, which qualifies you to invest with the company.
You can then choose from a list of their agricultural projects to invest in, which include:
- Broiler rearing
- Egg distributorship
- Maize farming
- Watermelon, soyabean, and vegetables planting
After investing, you would be given an investment certificate that shows your investment participation and what ROI you would receive.
How Much ROI Does Foxygreen Offer?
Foxygreen Investment ROIs are dynamic and are communicated as they come, so there is no clarity on the ROIs investors can get.
I guess you would have to call them to confirm the ROI they pay for each of their agric projects, as there is no such info on their website.
Is Foxygreen Legit or Scam?
There is no way to know if Foxygreen is legit or a scam, but there are a few things to be careful about.
Here’s what I observed with Foxygreen so far:
Firstly, the information on ROI is sketchy at best. There is no way to know what an investor would get in return and at what time the investment would yield.
If they cannot provide such important information to their potential investors, then something is really wrong.
Secondly, I hate the fact that you need to become a member of Foxygreen cooperative before becoming an investor.
This seems to me like a legal trick. If you are a member of a cooperative, you share the risks of the cooperative. So, if you lose money in any investment with them, you cannot complain because you are a member.
Does this ring a bell? Definitely.
I don’t want to be a member of any cooperative. I just want to invest my money and get good returns.
Can You Lose Money With Foxygreen?
It seems likely.
Foxygreen claims that their investments are insured by Leadway Assurance, but that is not true.
A look at the Leadway Assurance list of Agri-tech partnerships show that Leadway only covers a part of Foxygreen projects.
Foxy Green Hub Resources Ltd is covered by Leadway Assurance in the area of Agric-poultry, with the item: Chicken.
This means that Leadway Assurance only covers Foxygreen’s poultry projects. And the insurance is limited to livestock chickens. It doesn’t cover investors’ risks in the projects.
So, if anything goes wrong with Foxygreen’s projects such as egg distributorship, maize, watermelon, soyabean, and vegetables farms, investors would lose 100% of their investment.
Also, if anything goes wrong with their poultry or chicken farm, Leadway Assurance would only pay the cost for the direct loss. It is then left to Foxygreen to choose if they would refund investment capital back to investors.
So, on the part of investors, there is no guarantee whatsoever that you wouldn’t lose your investment with Foxygreen, as there is no control mechanism in place or insurance that protects Foxygreen investors.
Should You Invest in Foxygreen?
There is not enough information to make a decision whether to invest in Foxygreen or not.
But to play it safe, I wouldn’t invest.
If I get information about their investment tenure and the respective ROIs, then I can make an investment decision.
For now, it’s better to stay on the sidelines.