Johnvents Industries launches US$67.5M commercial paper to boost cocoa processing, exports 

NIGERIA – Johnvents Industries Limited has announced a ₦100 billion (US$67.5 million) commercial paper programme to expand its cocoa processing capacity and strengthen Nigeria’s export operations.  

The initiative, representing Series 20 of the company’s capital market engagements, underscores Johnvents’ long-term commitment to value addition and industrial growth in the cocoa sector. 

According to market sources, the offer, featuring a 270-day note with an implied annual yield of about 23%, opened on October 17 and will close on October 24. Proceeds from the issuance will be directed toward working capital needs, production expansion, and export enhancement, particularly at the company’s advanced processing facilities in Ondo State. 

John Alamu, Group Managing Director of Johnvents Industries, said the new capital raise reflects the company’s vision of positioning Nigeria as a global hub for cocoa processing and value creation. 

“This capital raise will sustain production efficiency, deepen our export capacity, and help us meet the surging global demand for Nigerian cocoa derivatives,” Alamu said. 

He added that Johnvents’ strategy goes beyond financial growth, emphasizing sustainability and farmer empowerment. “Our focus is on building a cocoa ecosystem that empowers farmers, strengthens local supply chains, and enhances Nigeria’s competitiveness globally,” he stated. 

Under Alamu’s leadership, Johnvents has evolved into one of Nigeria’s leading agribusiness enterprises, transitioning from cocoa sourcing and smallholder financing to a fully integrated processing operation.  

The company’s revenue grew from ₦59 billion (US$39.9 million) in 2022 to over ₦230 billion (US$155.4 million) in 2024, driven by strategic expansion and operational excellence. 

Johnvents’ financial stability has been recognized with a BBB+ credit rating from several Nigerian rating agencies, reflecting investor confidence and strong debt service capability. 

A senior company executive noted that the new issuance reinforces confidence in Johnvents’ business model.  

“Investors trust our approach because we’ve shown that local value addition in cocoa is viable and profitable. This is not just about funding—it’s about consolidating our leadership in cocoa processing,” the executive said. 

In 2024, the International Finance Corporation (IFC) invested US$23.3 million in Johnvents to support export growth and improve farmer livelihoods.  

Additionally, Greenus Capital Limited raised US$23 million in September to accelerate the company’s agricultural transformation initiatives. 

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