Onside PR have agreed to work with African Land in light of an investigation by the Financial Conduct Authority.
Founder James Fletcher will personally act on behalf of the investment scheme whilst conducting a fundamental review of the schemes internal and external communications strategy.
Investors with concerns will be able to discuss any issues with Onside PR who will also coordinate any media interest in the business, and it’s directors.
African Land chairman Robert McKendrick, said: “We believe James Fletcher will be a great addition to the African Land team – providing a much needed contact point for our investors and the media.
“We have listened to our investors and it would appear that communication between us all is an area whereby we can all improve on.
“James will provide investors with access to information as well as reviewing our website and other forms of communication.
“We are facing difficult times and believe we are unfairly under scrutiny by the FCA but we believe African Land has done nothing wrong and will defend our position and that of our investors.”
African Land is an ethical investment scheme that consists of hundreds of satisfied investors who are proud to be associated with a business that is literally feeding a part of African.
Investors purchased plots of land in Yoni Farm that will be cultivated for rice production. The rice is harvested each year and a percentage of profits is split between African Land and the investors. The balance is donated to local people.
However, an African Land internal investigation discovered some irregularities involving a third party broker who had been allowed to sell plots in African Land, on behalf of African Land.
African Land took legal action on behalf of those investors affected and as a result have struck a deal to recover the vast amount of the monies. It will be paid in stages.
However, days after reaching settlement of these legal proceedings it was announced that the FCA (Financial Conduct Authority) planned to take action against 16 firms or individuals – that included African Land.
The FCA believe that African Land is a CSI – or Collective Investment Scheme.
African Land strongly refute the allegation. The schemes consists of around 1,000 investments. Each acreage of land is individually farmed and the results per acreage vary.
African Land will meet with the FCA and, should they persist with the action, will defend the action resolutely.
For further details please email: Africanland@onsidepr.com
