Johnvents plans sesame and cashew plants in two West African markets
An IFC disclosure describes a proposed financing package of up to US$72 million for facilities in Nigeria and Côte d’Ivoire.
Agribusiness group Johnvents plans to expand processing and logistics in Nigeria and Côte d’Ivoire, according to an International Finance Corporation disclosure. The plans call for a sesame plant in Nigeria with annual capacity of 50,000 tonnes and a cashew plant in Côte d’Ivoire with capacity of 30,000 tonnes.
The proposed financing package would provide up to US$72 million, including up to US$22 million that IFC would seek to mobilise from other lenders. The project also includes 30 trucks and working capital. IFC’s disclosure lists the investment as pending approval.
The plants would give Johnvents more capacity to process crops near the farms that supply them. IFC expects the project to expand market access for sesame and cashew growers. Those are expected benefits set out in the proposal, with the plants and financing still to be delivered.