You may have come across the Westagro Agri-tech Investment scheme and wondered if it is legit or a scam?
Can you really make 100% ROI as promised or is it just a marketing hype?
Well, in this review article, we’ll look at the Investment Packages offered by Westagro to see if they are really worth the money.
Note that this article does not serve as investment advice. You have the prerogative to invest or not to invest in Westagro.
That said, let’s dive in.
What Is Westagro All About?
Westagro is an Agri-tech and food processing company based in Nigeria.
The company is involved in several agricultural ventures such as farmland sales, farmland management, farm sponsorship, and food processing.
Westagro solicits investment from private investors to fund its agricultural ventures with a promise of mouthwatering ROIs for investors.
How Does Westagro Make Money?
Westagro makes money from agriculture and food processing.
The company is an active player throughout the agricultural value chain and provides several agro-allied services.
Yields from Westagro’s agricultural ventures are shared between the company and its investors.
How to Invest in Westagro
Westagro presents several investment packages for investors, depending on their ownership and management interests and scalability.
To invest with Westagro, you’ll first have to register as a collaborator with Westagro Farms, select your preferred investment package, receive your signed investment contract and wait to receive earned returns on due dates.
Here are some of Westagro’s Investment Packages:
Farmlands
This is for investors looking to own Farmlands for other types of crops not listed on Westagro’s Investment offering.
With a minimum investy of 275,000 Naira, Westagro helps investors procure farmlands, process and manage the farmlands, and deliver returns.
Cattle & Meat Processing
With a minimum of 500,000 Naira, you could invest in Westagro’s goat and cattle package, where you fund their cattle rearing and meat processing venture.
Westagro manages everything from start to finish, as they also process the meat for direct sales in the market, thereby maximizing profit.
Vegetable Farming
You can invest in Westagro’s vegetable farms with a minimum of 150,000 Naira.
They plant, harvest, and sell vegetables on behalf of investors, as well as management of vegetable farms for long-term yield.
Plantain & Flour Processing
With a minimum investment of 375,000 Naira, you can sponsor a plantain farm from harvesting to flour processing.
There’s also the option for investors to take ownership of the plantain farm while Westagro manages the farm on their behalf.
Fish Farm & Fish Processing
With a minimum investment of 500,000 Naira, you could invest in Westagro’s fish farm and fish processing venture.
Investment tenure is capped at 3 years before yield.
How Much ROI Does Westagro Offer?
Westagro offers a mouthwatering ROI ranging from 100% to 200% depending on the investment package.
For its vegetable farms, Westagro offers a whopping ROI of 200% payable over 2 years in 6-month payment tranches.
That amounts to an average of 50% ROI every 6 months.
For its other farm sponsorship packages, Westagro offers a ROI of 100% payable over 3 years in 6-month tranches.
That amounts to an average of 33% ROI every 6 months.
Is Westagro Legit or Scam?
There is no straightforward answer to know whether Westagro is legit or a scam.
After all, we’ve seen many legit investment companies in Nigeria default on their promise and leaving investors stranded.
Westagro happens to have insurance coverage with Leadway Assurance, with Insurance cover: Agric – Fish farm, and Insured item: Catfish.
So, it seems Westagro is insuring its fish farm venture in case of unforeseen losses.
I don’t know if Westagro has any insurance coverage for its other farms and agric ventures, which is the right thing to do, as anything could happen in the business of agriculture.
However, as it seems, except for some unverified promises on its website, it looks like Westagro is offering no guarantees that investors would get their due returns.
If anything goes wrong with Westagro’s farms, the insurance would only pay the damages for Westagro’s fish farms, while other ventures remain at loss.
Can You Lose Money With Westagro?
In my opinion and with the information on Westagro’s website, it seems likely that you can lose money when you invest in Westagro.
Of course, these Agri-tech Investment schemes could disappoint you when you least expect, no matter the number of promises they make to convince you to invest.
So, it’s best to invest with only the money you can afford to lose.
Should You Invest in Westagro?
To be honest, Westagro’s Investment Packages are really enticing.
Their ROI is one of the most lucrative in the industry. But then, it could all be marketing hype.
For me, the Investment tenure is too long, but I like the fact that they pay every six months.
However, it takes too long to earn the ROI and your money seems trapped.
For example, the most lucrative package, which is the vegetable farm, offers 45% ROI every six months, over 2 years.
That means in one whole year, you would have received 90% of your capital back.
At this point, you are yet to receive any ROI, and part of your capital is still being held.
I see this as a massive numbers game and a delay tactic that I’m not comfortable with.
Vegetables do not take that long to grow, and I’m suspecting that Westagro utilizes investors’ funds for other fixed assets or infrastructural development, which is not stated in the Investment proposal.
For this, I’m quite sceptical about the legitimacy of the Westagro investment scheme and for that, I would NOT invest my money with Westagro.
Investing with Westagro seems to be too risky, so if you choose to invest with them against all odds, please do so with money you can afford to lose.