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Johnvents Industries Limited raises N18.8bn Commercial Paper
Johnvents Commercial Paper: Johnvents industries limited, a leading cocoa processing firm in Africa, said it has successfully raised N18.8 billion series 10 & 11 commercial paper issuance under its N30 billion commercial paper program.
This marks the largest capital raise to date for the company since it entered the domestic debt capital market.
Current Johnvents Commercial Paper, Largest In The Company’s History
The Group Managing Director, Johnvents Group, Mr. John Alamu, said the N18.8 billion commercial paper was the largest capital raise to date for the company since it entered the domestic debt capital market.
He said the N18.8 billion was raised through its series 10 & 11 commercial paper issuance in October, 2024, noting that the company which was founded in 2016, has demonstrated remarkable growth, with revenue soaring from N59.7 billion in 2022 to N92.7 billion in 2023.
Alamu further stated, “We remain committed to our mission of leading in this space, and we are excited about the future opportunities that lie ahead.”
“Looking ahead, Our strategic initiatives will continue to focus on sustainability and efficiency, ensuring that we contribute positively to the growth of Nigeria’s agribusiness landscape while delivering value to our stakeholders.”
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Johnvents Strengthens Company’s Position Through Market Expansion
Johnvents has been rated BBB+ by GCR Ratings Limited, Agusto & Co. Limited, and Datapro Limited. This rating reflects its strengthened competitive position through market expansion and the addition of a 30,000 MT cocoa processing plant to its portfolio in 2023.
The company has become one of Nigeria’s largest exporters of processed cocoa butter and powder, supplying leading international food and confectionery companies.
Johnvents Group is committed to driving sustainable growth across the entire agricultural value chain from production, processing, manufacturing to distribution.
The Company is at the intersection of everything agriculture, unlocking immense values and ensuring food supply and premium export value for Africa.
Dr. Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Plc, expressed pride in United Capital’s role as Lead Arranger for Johnvents’ record-breaking N18.8 billion capital raise.
He said: “It’s an honour to support Johnvents in achieving this milestone, which reflects their strategic vision and commitment to growth. This success also demonstrates the confidence of the financial market in their business and leadership,”Dr. Adenrele stated.
He further reaffirmed United Capital’s commitment to empowering SMEs and mid-market enterprises, adding, “We remain dedicated to providing tailored financing solutions that drive sustainable growth. We look forward to continuing our partnership with Johnvents as they expand and lead in the agribusiness space.”
