Foxygreen Halts Payment

Foxygreen a multipurpose platform has halted payments to investors citing different reasons including renewal from investors.

Quoting the organization latest press release: "Good day, We want to use this medium to appreciate everyone for your support and trust over the years. We are extremely grateful for the confidence that you have in us. In the spirit of transparency and demonstration of our commitment to you and your partnership with us, we wish to inform you that, all subscriptions to our partnership projects will be suspended effective today 13th August 2021 as at 4pm. Furthermore, we will also need to temporarily suspend payouts at this time. This is because we have had a lot of premature partnership withdrawals recently and in light of the capital-intensive nature of our ongoing projects, any more depletion in our resources especially through payouts or withdrawals could jeopardize our operations. These withdrawals can be attributed to the following: 1. the current skepticism about crowdfunding in the agricultural sector;(even though we are not a crowdfunding organization but a Multipurpose cooperative Partnership) and 2. low partnership renewals in the last few months. In light of the foregoing, you will agree that there is a need to re-strategize to avoid any delays in your payments or the efficiency of our business operations. Consequently, we hereby request a 4-month extension for the disbursement of any due payout. During this period, we intend to restructure our processes for more effective operations. We are confident that with the proposed restructuring we should be able to commence payout and subscription to our partnership programmes soon thereafter.

We encourage you not to panic especially when you bear in mind that we have maintained over 1200 days of consistent payouts even during the heat of the pandemic. Rest assured that we will keep you apprised of developments and are available on all our communication channels to provide any clarification you may require before, during, and after this period."

For more information visit the Nairainvest website.