Nigerian entrepreneur John Alamu is seeking $72 million in financing from the International Finance Corporation (IFC) to expand agricultural processing operations in Nigeria and Côte d’Ivoire, as his company looks to increase the value of locally produced commodities.
The proposed financing will support Johnvents Industries Limited, the agribusiness founded by Alamu, in developing a sesame processing facility in Nigeria and expanding cashew processing operations in Côte d’Ivoire.
According to project details published by the IFC, the proposed investment is designed to strengthen the company’s processing capacity, improve logistics and create more opportunities to supply processed agricultural products to local and international markets.
The financing package is expected to include up to $50 million from the IFC and an additional $22 million to be mobilised from other lenders.
However, the proposal remains subject to approval, with the IFC board expected to consider it in December 2026.
New factories to expand processing capacity
Under the expansion plan, Johnvents intends to establish a sesame processing facility along the Sagamu-Ibadan Expressway in southwestern Nigeria, with the capacity to process 50,000 metric tonnes annually.
The company also plans to develop a cashew processing plant in Côte d’Ivoire, which is expected to handle 30,000 metric tonnes of cashew nuts annually.
The project includes approximately $53.6 million for factories and equipment, while the remaining $18.4 million will support working capital needed for business operations.
Johnvents also plans to acquire 30 trucks to strengthen its transportation and distribution network, helping move agricultural commodities between suppliers, processing facilities and markets.
Focus on value addition
The proposed investment comes as agricultural businesses across Africa seek to earn more from processing commodities rather than relying heavily on exports of raw produce.
Nigeria produces sesame and other agricultural commodities, but expanding local processing capacity could help businesses capture more value through cleaning, processing, packaging and supplying products for industrial use.
For Johnvents, the expansion represents a further step in its strategy to build an integrated agricultural business connecting farmers, commodity sourcing, processing and distribution.
Founded in 2016, the company initially focused on agricultural commodity trading before expanding into processing, particularly cocoa. It operates cocoa processing facilities in Akure and Ile-Oluji, Ondo State.
The planned sesame and cashew investments would broaden its operations across additional agricultural value chains and strengthen its presence in West Africa.
Financing and opportunities for farmers
The proposed IFC financing is expected to provide longer-term funding for the expansion, while also encouraging participation from other lenders.
Alongside the investment, the IFC has outlined an advisory programme intended to support approximately 40,000 farmers through climate-smart agricultural training, improved cocoa traceability and sustainability certification initiatives.
The programme could potentially extend to sesame and cashew, depending on funding availability and the company’s priorities.
For farmers and businesses within the supply chain, increased processing capacity could create additional market opportunities, support logistics activities and generate employment.
However, these benefits will depend on the successful implementation of the projects and the company’s ability to secure consistent supplies of agricultural produce.
If approved and completed, the expansion would strengthen Johnvents’ processing operations in Nigeria and Côte d’Ivoire while supporting efforts to increase the value derived from agricultural commodities within the region.
Sources: International Finance Corporation (IFC), project disclosure; QED.NG, October 23, 2026.
