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0 News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/nigerian-cocoa-giant-johnvents-secures-40-5-million-uk-investment-to-expand-global-footprint/
Lagos-based agribusiness leader Johnvents Group has inked a transformative $40.5 million partnership with British International Investment (BII), the UK’s development finance arm, to ramp up cocoa processing and solidify Nigeria’s position in the global sustainable cocoa market.
The deal, announced this week, targets a surge in production at Johnvents’ subsidiary Premium Cocoa Products in Ile-Oluji, aiming to unlock its full annual capacity of 30,000 metric tonnes—a move poised to elevate Nigeria’s underutilized cocoa export potential.
The investment arrives as global demand for traceable, ethically sourced cocoa intensifies. Johnvents, already a key player in Nigeria’s agricultural sector, plans to channel the funds into scaling operations, enhancing sustainability protocols, and achieving 100% traceability across its cocoa supply chain by 2027, with 90% certified to international standards. “This isn’t just about scaling production—it’s about reshaping Nigeria’s role in the global value chain,” said John Alamu, Group Managing Director of Johnvents. “We’re empowering farmers, boosting exports, and proving Nigeria can compete on quality and sustainability.”
Bridging Gaps in a Strategic Sector
Nigeria, the world’s fourth-largest cocoa producer, has long struggled to convert its raw bean output into high-value exports due to outdated infrastructure and limited processing capacity. BII’s injection aims to reverse this trend by modernizing Johnvents’ operations, directly addressing what Benson Adenuga, BII’s Head of Nigeria Office, calls “critical bottlenecks.” The partnership aligns with BII’s focus on backing Black-owned enterprises in Africa, which often face disproportionate barriers to capital.
Jonny Baxter, British Deputy High Commissioner in Lagos, underscored the broader implications: “This isn’t just a business deal—it’s a catalyst for inclusive growth. By linking Nigerian farmers to global markets, we’re fostering job creation and sustainable trade ties that benefit both nations.”
Farmer Empowerment and Economic Ripples
Beyond machinery upgrades, the collaboration pledges to uplift Nigeria’s agricultural backbone—its cocoa farmers. Johnvents plans to integrate thousands of smallholders into certified supply chains, offering training and fair pricing to improve yields and livelihoods. With cocoa prices hitting historic highs, the timing could amplify impact.
Industry analysts note the deal’s potential to recalibrate Nigeria’s agricultural exports, which have lagged behind oil dominance. “Cocoa is Nigeria’s golden crop, but we’ve barely scratched its surface,” said Lagos-based trade economist Zainab Okonjo. “Investments like this could pivot the economy toward agro-processing, reducing vulnerability to oil price swings.”
As global chocolate giants face pressure to source ethically, Johnvents’ traceability push positions Nigeria as a rising star in sustainable cocoa. For BII, the partnership signals confidence in Africa’s agribusiness sector—and a blueprint for bridging equity gaps in development finance.
For Nigeria, the stakes are sweet: a stronger foothold in the $130 billion chocolate market, and a chance to prove that its cocoa can be as renowned as its oil.
News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/nigerian-cocoa-giant-johnvents-secures-40-5-million-uk-investment-to-expand-global-footprint/
