GrowForMe is revolutionizing how local farmers access funding while creating opportunities for agric enthusiasts and investors to put their money where their mouth is.
In this review, we’ll take a closer look at what the company is offering and what’s in it for interested investors.
So, What’s GrowForMe All About?
The company believes that farming is not only for farmers, as everyone can farm and trade agric commodities no matter where they are.
All they have to do is sponsor a farm and get their money farming for them.
On the GrowForMe platform, you can either farm remotely from the click of a button or sponsor a farm for mouthwatering ROI.
When you start a farm on the website, you can harvest and sell during the harvest season or harvest and gather your proceeds for personal use.
Just by the click of a button.
This is a very innovative concept which encourages inclusiveness in farming by removing the hurdles of tools, skills, and resources for people who have interest in farming.
How to Start Investing With GrowForMe
We know that you can start your own farm on GrowForMe, but the focus of this post will be for those looking to invest towards sponsoring a farm.
To start investing with GrowForMe, all you need to do is log on to their website, create a user account, then start browsing to find a farm that may interest you.
Opportunities you may come across on the website include soybean farm, maize farm, and rice farm.
Once you find a good farm opportunity, simply click on the “sponsor farm” button and start investing.
Most of the farm deals on the GrowForMe website require a minimum of 200 cedis ($15) to start investing.
How Much ROI Does GrowForMe Offer?
The ROI on offer depends on the specific farm you are investing in.
ROIs on the platform varies from 10% to 30% for farming durations ranging from six months and above.
But realistically, you should expect a ROI of about 15% for a 6-month tenure.
Not too bad.
Is GrowForMe Legit or Scam?
The company seems like a legit company, but you have to be careful with them considering the level of risk in the agricultural sector.
They claim to be a registered broker with the Ghana Commodities Exchange (GCX) which is under the supervision of the SEC, and that “there is monitoring and oversight from SEC directly.”
This can pass for some level of legitimacy, considering that they have made the effort to present themselves under regulatory scrutiny.
So, Can You Lose Money With GrowForMe?
It looks likely.
The company does not mince words when they say that they do not guarantee ROIs for farm sponsors and investors.
According to GrowForMe, “There Is Risk In Farming. We don’t Guarantee returns of your sponsorship or profit.”
The company also has a no refund policy where “all client’s capital payments made to GrowForMe are non-refundable from the Effective Date of your Sponsor Agreement.”
The only insurance coverage GrowForMe provides for farms only covers losses from flood and drought, which is a very limited insurance coverage.
So, investors should know that investing with GrowForMe is at their own risk. If you win, good for you. But if you lose, sorry for you.
What I Hate About GrowForMe
I would like them to offer better guarantees for investors. The farm insurance should cover more areas or they should offer a percentage return in case of losses.
Most investors wouldn’t mind a cut in ROI if there was a guarantee that their capital is at least safe.
What I Like About GrowForMe
GrowForMe is a much needed initiative to help work towards future food security.
With more inclusiveness for everyone interested in farming, we can all put hands together to work towards a future where hunger wouldn’t be a concern.
And by the way, the ROI is mouthwatering. I won’t forget.
So, should You Invest in GrowForMe?
This is a little bit risky.
So, I’d say, invest only what you can afford to lose.
Or if you have time on your hands, you can flip the deal and start a farm instead of sponsoring one.
That way you get sponsors through GrowForMe to fund your farm and you make money.
If GrowForMe allows you to physically inspect the farm, even better. That way, you can be sure to have some form of control over your agric investment.