Following months of having disgruntled investors wait for their funds, Thrive Agric has announced the completion of all overdue payments due to its crowdfunding subscribers.
The company, in an email to its subscribers, expressed regret for not being able to keep its promise of on-time returns on farm subscriptions, exposing them to the unexpected risk of “running an agriculture business during a pandemic”.
Signed by Adia Sowho, the company’s interim CEO, the mail stated “The COVID-19 pandemic changed our lives forever. It tested the world and the businesses around the world; ours included.
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“On behalf of a very hardworking team, I want to thank you for trusting us with your funds. When this company started 3 years ago, your funds made it possible to support local farmer communities in Nigeria and our vision to create an Africa that feeds itself and the world.”
While noting that the year 2021 has been off to a strong start and the company is progressing through planting season, in line with its vision of an Africa that feeds itself and the whole world, she stated, however, that crowdfunding remains paused indefinitely.
“We will announce our future plans as they evolve,” said Sowho.
It will be recalled that BusinessDay, like a number of media platforms, had reported the company’s inability to pay its crowdfunding subscribers, and while it has now redeemed itself, it is to be seen if others in the same boat will finally grant reprieve to their investors.
