It is no longer news that our business has faced challenges since the onslaught of the Covid-19 pandemic.
We encountered losses across our farm projects, experienced setbacks with obtaining forex from CBN for some vital equipment, had to contend with technical issues on our processing machinery, disruptions to our supply chain and distribution networks.
We were not adequately prepared and failed to mitigate our losses despite our best efforts and well intentioned plans. In spite of these odds, we managed to keep the business afloat.
Unfortunately, our partners have had to bear the brunt of this.
Our efforts to secure significant funding to help with an aggressive turn around are yet to materialize. We have continued operations regardless, in order to meet obligations according to our current realities.
It is pertinent to note that our business is a going concern and a truly valuable solution to the current food crisis. Many Distributors, customers and indeed partners can testify to the pride and joy of encountering our neatly packaged products in markets and supermarkets. Many have experienced our products and continue to stick to our brand. Demand for our products is constantly greater than we can supply.
It is also pertinent to note that we have made significant refunds in the past two years in varying percentages. We are also working on a new plan to resume repayments in batches and will communicate by July 31. This will enable us to reassess our realities and put forward a plan that works.
While we understand the frustration and justified outrage that this staggered repayments generates, we would like to plead for patience while we work through these challenges to beat expectations and refund partners in FULL.
Please rest assured that we are firmly on course and will continue to put in our best effort to turn this ugly situation around.
We remain committed to our founding vision to make food affordable to the common Nigerian. We especially remain committed to our partners and will return all funds within the most realistic timeframe.
At this difficult economic meltdown, and while we stick to our pledge to refund all stakeholders’ concerned, we want to assure you that you are valuable and we still hold you in high esteem regardless of the current situation.
With your trust in ABADINI and your unwavering support, we shall weather the storm.
Thank You.
SIGNED
Abraham
Ogebe Adonduwa
(Chief Founding Officer)
