$500,000 is needed to make the up-front payment to the village community and start up the farm. The contract has been drawn up by lawyers in Buea and signed.
The project is very simple in its structure and aims. We will operate a business and like any business, operating at a profitable level is our objective. Unlike other businesses however, this is designed to put large proportions of its profits back into the economy by sharing the profits with selected beneficiary partners.
To get the project moving, we have to inject money at the start. This money is to be provided by an investor, who will receive his money back, plus substantial levels of interest. The investor MUST be financially rewarded for risking his capital. Investors will operate a system in which they provide money in advance of receiving their benefit.
The Contract we are putting forward includes the Chiefs (the village community leaders) as major beneficiary partners and like the investor, we are respectfully asking that the Chiefs allow us to conduct our agricultural operations using land that they provide, with the contractual commitment that they get rental returns, plus financial premiums after the crop harvests have been gathered and sold. After a lengthy negotiation with the combined village councils, the chiefs settled on a compromise in which they would not allow us to use their land without payment, but they were prepared to reduce their up-front requirement. The agreed terms were that we are to pay 60% of the annual total up-front and 40% at the end of the agricultural year. This reduction allows us to pay the chiefs AND operate the farm.
The contract has been drawn up by lawyers in Buea and has been signed on behalf of A.F. Enterprises by B. C. and P. T. The village community leaders will sign the contract at the time of the first stage payment being made.
We need $500,000 to make the up-front payment to the village community and start up the farm.