Tomato Jos forays into grain sector, receives US$1.2m support from USAID funded Trade Hub

NIGERIA – Tomato Jos, Nigerian agro-processing company focused on the local production and processing of tomatoes has diversified its operations venturing into the grains sector. Under the new move, the private equity-backed, fast-growing social enterprise is seeking to boost the productivity, incomes, and resilience of maize and soybean smallholder farmers in northern Nigeria’s Kaduna State. The company has received a N494 million (US$1.2 million) co-investment grant from the USAID-funded West Africa Trade & Investment Hub (Trade Hub) to facilitate the venture. According to Trade Hub, Kaduna State is home to…

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Investment firm Goodwell unveils US$60m feeder fund to support high growth SMEs in Africa

AFRICA – Goodwell investments, an Impact investment firm, is set to allocate follow-on funding to existing companies in its portfolio, operating in the food, agriculture, ecommerce sectors in Africa, among many others. The targeted companies include Good Nature Agro, a Zambian for-profit social enterprise that believes in farmer-centric impact; Tomato Jos, a Nigerian agro-processing company focused on the local production of high-quality tomato paste; Copia, one of Africa’s most promising ecommerce businesses based in Kenya; and Nomanini, a South Africa headquartered fintech platform that connects financial service providers and fast-moving…

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Nigerian agro-processing startup clinches US$4.2m funding in series A round led by Goodwell Investments

NIGERIA – Tomato Jos, Nigerian agro-processing company focused on the local production of high-quality tomato paste, has completed a EUR 3.9 million (US$4.2m) Series A funding round led by Goodwell Investments, via its West Africa partner Alitheia Capital with participation from Acumen Capital Partners and VestedWorld. Tomato Jos was founded by Mira Mehta in 2014 with the vision to create and retain local value-add to the tomato value chain, reduce post-harvest losses, and improve the lives of smallholder farmers. Since its inception, Tomato Jos has focused on securing its supply…

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