FAQ

General

• Who is an Outgrower?
  Outgrower is an individual or a institution who owns the farming land and is keen to undertake farming activity. He can register with Grow For Me for support towards farm finance or produce purchase.
  
• Who can be a funder?
  Funder is an individual or an institution who is interested in investing in farming produce for any specific crops of his/het choice.
  
• Who can be an Off Taker?
  Off-taker is a buyer of the farm produce. He/She can get into a contract with Grow For Me to buy the produce of a crop cultivated by the farmer.
  
• Is this governed by SEC, do you have a license
  We are a registered broker with GCX which is under sec. And there is monitoring and oversight from SEC directly. please see our SEC approval here: SEC Approval
  
• I have land - can you use it
  Currently we only work with farmers who have their own land and have min 3 years experience (typically its 10) with that particular crop growing on that land. That way we mitigate risks around soil moisture, growing conditions, yield variations etc. We have been asked this question several times and are currently exploring the option for the future
  
• I have a team of farmers who have their land - can they onboard
  Currently we only work with farmers who have their own land and have min 3 years experience (typically its 10) with that particular crop growing on that land. That way we mitigate risks around soil moisture, growing conditions, yield variations etc. We have been asked this question several times and are currently exploring the option for the future
  
• Are your produce organic? Whats your farming process
  No. Most of the lands used by the farmers have been worked on before with fertilizers and other chemicals, thus we do not certify that any of our produce is organic. We intend to consider sole organic production with virgin lands and proper certification before we can confidently label a product organic.
  
• Are you doing anything for the next part of the value chain in terms of processing
  This part of the business is still on the discussion table. It may be implemented in the future.
  
• Where are your farms located?
  Our farms are scattered all over Ghana. Each crop lists its location.
  
• Do you have in-house agronomists and farmers working on the harvest or is there an out-growers models in your supply chain?
  Yes we do, and we work with an out-grower model. Our in-house and external agronomist team supervise the activities of the out-growers
  
• Do any of your produce include GM productions at any stage?
  No, we have not considered GM at any stage yet.
  
• Would you be able to grow for us based on our requirements including - products, quantity and consistent supply adhering to Ghanaian and exportation standards and certifications?
  Yes, we can grow for you at your specification. We are already implementing good agriculture practices on all our farms to ensure our products meet export quality.
  
• Are your farms certified by PPRSD, GLOBALGAP to enable export of chillies, aubergine, scotch bonnets?
  No we are currently not growing them. However, if you want such crops we will find the farmers with the certification and fund them to produce to your capacity.
  
• At end of cycle can the farmers be rated?
  No, customers do not have access to farmers hence they cannot rate them
  

Funding a Crop

• What are the types of crops available?
  We currently have Pineapple, Maize, Soybean, and rice for farming purposes. available with chili coming up soon. Visit our Farm page for current crops that are available.
  
• What currency do I fund a farm in?
  The sponsors can do both in USD as well as Ghana Cedis GHȼ
  
• What does your due diligence process look like?
  For being an Outgrower our agronomist will engage with you to understand the current status of farm and how well it suits our requirement. Further post the discussion and exclusive contract will be signed with the company.
  
• How long will I stay funded?
  The crop like pineapple has a cycle of 12-15 months. So the funder will be typically with any such project for a period of 12-15 month.
  
• Are these farms Insured?
  Grow For Me drives hard to protect the crop from any damages. Hence it has tied up with ____ crop insurance company for all such coverages. You can find details of the Insurance when you sign up for our program
  
• What does the option, when creating a new farm Harvest Proceeds as Cash or Crops mean?
  We at Grow For Me will give the Funder the ability to either request for the harvest in cash (Meaning GFM will manage the sale of the harvest), or we can allow the harvest to be collected by the Funder as the harvested crops.
  If you would like the crop, we can transport the crop to a chosen destination in Ghana at your cost.
  
• What does your insurance cover
  Drought and Flood
  
• Is there a contract between the farmer and grow for me. can they grow for others during that period?
  Yes, there is a contract between GFM and the farmer. The farmer has the right to run his personal farm and also engage with other parties so long as he is not engaging with a GFM funder.
  
• Does insurance cover principal and interest
  Insuance only covers principal in event of a flood or drought
  

Risk and Returns

• What is Return on Funding (ROS)?
  The Return on Funding is calculated based on the crop period and funding size based on the market price.
  
• What was the return or what will the percentage of returns be?
  The returns for each funder will be displayed as a percentage in the user’s account depending on the amount funded.
  
• How can I receive my payout?
  Your payout is paid to you via the settlement method you select.
  We currently have 3 major settlement methods. They include
  1. Local bank with transactional fee of 25gh
  2. Foreign Bank with transactional fee of 5$
  3. Moblie Money with transactional fee of 1%

  
  
• FX risk - given USD and GBP vs GHȼ has depreciated 15% in past year alone
  The prevailing FX rates apply.
  
• Are returns Guaranteed? What assets back it
  Like with any investment returns are never guaranteed but what we have in place at grow for me are systems and processes in places to mitigate as many risks as possible. There are 2 variables that will determine the returns. Yield and Market price. We always offer a range for returns, typically we get middle of the range but we always aim for the upper.
  Please see our risk policy for more information.
  https://www.growforme.com/en/riskpolicy/
  
• How are you managing the spread in terms of FX risk
  
  

Payments and Account

• How do I make payment?
  {% trans 'The company has got both card based as well online transfer facility. We accept the following channels for payments
  1. Mobile Money
  2. Online card Payment (Visa, debit, credit, and master card)
  3. Bank payments' %}
  
• Do I need a Ghanaian bank account for payments to be made or received?
  No, payments can be made on this site from any location, and all debit/credit cards are accepted on our payment platform, SSL secured for your reassurance.
  
• What are the transaction costs involved with me sending to my local (Ghanaian) or international bank account?
  It costs $0.50 and $40 to pay to local and international bank accounts respectively.
  
• Where do I specify the payout method, and what are the exact options?
  {% trans 'The option to select the payout method will be displayed in your account. There are currently four (2) methods of payouts with different charges and costs. These costs are regularly updated depending on financial market charges for transferring money.
  1. Mobile Money (Ghana) costs 1% to fund.
  2.i. Bank Transfer (local) costs 25gh to pay back. Payments are done directly into your bank account from our accounts through bank transfers. This takes about one day to two weeks to reflect. ii. Bank Transfer (International) costs $5 to pay back. Payments are done directly into your bank account from our account through local bank transfers. This takes about two to five days to reflect.
  
  To be able to update your payout method, 1.Log into your account on www.growforme.com 2. Navigate to the Finance section> Payout Method >Select settlement/Payout method. 3. Fill in your payment details and click update..' %}
  
• Where is the money held, whats the custody acc
  The money is held in Grow For Me Bank accounts in Ghana.
  
• What happens if the bank where the money is held goes bust
  The money goes into the farm once the cycle begins, if the bank that holds the money goes bust, we will need to wait till we get paid by the goverment. That said, we do buiness with banks that have long history of stability and operations
  
• Can I reinvest my payout?
  Not currently available. However, we are working on the new version of our platfom which will allow sponsors reinvest thier payout with just a click of button.
  

Monitoring Your Farm

• How do I track my funded farms?
  On the click track farms, all farms funded in will be listed, clicking view details shows farm updates,farm status and timeline gone in the farming cycle.