I’m always looking out for innovative side hustles and passive income streams. If one of these streams happen to help impact the lives of others and potentially create more jobs, then all the better.
So, when I learnt from Eelis about investing in Somalian livestock that can help nomads with job creation and stability, provide a food source (camel’s milk) and support the economy of Somalia, AND earn me a potentially nice return on my investment, I was all ears and google.
Introducing Agrikaab. Agrikaab aims to use technology to create a marketplace where investors from other countries can help stimulate the Somalian food economy, and contribute to job creation and food production, whilst earning a portion of the profits generated by the livestock your money will buy.
I feel like one of the main tenets of practicing FIRE and achieving FIRE, is to be able to lend your time and possibly money, in aid of other, more noble ventures. While we are definitely not FIRE yet, we can definitely lend a helping hand in the name of job creation and economy building.
And upon registering for an account and exploring the site, I saw something that made me love Agrikaab that much more. You can pay them by crypto! I love a forward-looking company.
Agrikaab has several different projects at any one time. This is an example of a currently open project for a camel farm. Estimated returns are between 17 – 30% ROI per annum. Of course, as we’re dealing with an unfamiliar territory and livestock, risk is inherently much higher.
The way it works is roughly this: Your money will go into purchasing camels and probably day to day operations of the farm. Nomads will harvest the camel milk to sell, and after deducting for operational costs, profits will then be disbursed back to the investors.
I see this as not so much an investment, but more of a charitable endeavor, and a most interesting, conversation-worthy side hustle. I will be investing into this over the next few weeks, so watch this space for my camel updates!