Two months ago we announced that we want to focus on the new microfinance service and wind down existing projects. Unfortunatley, it has proven difficult to find investors or buyers for the projects as there is a very low interest in new investments due to the current economic crisis. Somalia's economy is heavily dependent on remittances from Europe/US, foreign aid and trade which are all badly impacted by the coronavirus crisis. In addition, external funding we expected to receive from our global users has dried up.
We have put every bit of our energy into this company, but we weren’t able to turn the corner on creating a profitable business due to the difficult working environments and unforeseen situations.
Please direct any questions to email@example.com.
N.B.: Some people said this is just another Scam.
Agrikaab is a mission-driven startup that enables anyone to invest in African agriculture from their smartphone. We are currently active in Somalia where we provide microloans (murabaha) to farmers, livestock herders and agrifood entrepreneurs.
Maka Al Mukarama Str,, Mogadishu, Somalia
P.O BOX 102281-00101, Kujacraft bldg, Eastleigh, Nairobi, Kenya.