The proposed financing would support the construction of a sesame-processing facility in Nigeria and a cashew-processing factory in Côte d’Ivoire, alongside investments in transportation and working capital.
The IFC is considering a senior loan package of up to $72 million for the agribusiness group, with the proposal scheduled for consideration by its board on December 18, 2026. The financing has not yet been approved.
Under the proposed arrangement, Johnvents Industries would establish a sesame-processing facility with an annual capacity of 50,000 tonnes along Nigeria’s Sagamu-Ibadan Expressway. The company also plans to build a cashew-processing factory in Côte d’Ivoire with an annual capacity of 30,000 tonnes.
Part of the financing would fund the acquisition of 30 trucks to strengthen the company’s distribution network, while another portion would provide permanent working capital to support its expanding operations.
The proposed package comprises up to $50 million in direct IFC financing, including $25 million expected to be covered by credit insurance, while the institution would seek to mobilise another $22 million from other lenders through a B loan.
Approximately $53.6 million would be allocated to factory construction, vehicles and other capital expenditure, while $18.4 million would be used for working capital.
Johnvents Industries was founded by Nigerian entrepreneur John Alamu, who retains an effective ownership interest of approximately 95% in the agribusiness group through direct and indirect stakes.
The proposed financing would have an eight-year repayment period, including a two-year grace period on principal payments.
Johnvents Expands Beyond Cocoa Processing
The proposed investment would mark a significant expansion of Johnvents Industries’ operations into sesame and cashew processing, building on its established presence in Nigeria’s cocoa industry.
In June 2024, the IFC provided the company with a $23.3 million financing package to expand its cocoa-processing plant in Ondo State and double production capacity to 120 tonnes per day.
The company subsequently secured $40.5 million in long-term financing from British International Investment in February 2025. The funding was earmarked for machinery, factory refurbishment and an increase in annual cocoa-processing capacity to approximately 30,000 tonnes.
The latest proposal would extend the company’s processing footprint into Côte d’Ivoire, the world’s largest producer of raw cashew nuts, while adding sesame-processing capacity in Nigeria.
The IFC said long-term dollar financing of the proposed scale was not readily available to regional agribusiness companies. It expects the investment to improve farmers’ market access, create jobs and retain more economic value in Africa by processing agricultural commodities closer to their sources.
An associated advisory programme could also provide climate-smart agriculture training to approximately 40,000 farmers. The programme would support digital traceability, producer organisations and sustainability certification across Johnvents’ agricultural supply chains.
IFC Flags Environmental and Governance Risks
The IFC has classified the proposed investment as a Category A project, indicating potentially significant environmental and social risks that would require appropriate safeguards.
The institution identified potential child and forced labour in agricultural supply chains, unsafe working conditions, pesticide exposure and the conversion of natural or critical habitats among the risks requiring attention.
It also highlighted concentrated ownership and decision-making authority within Johnvents Industries as a residual governance risk. According to the IFC, the company has begun addressing the concern through professional management, board committees and a holding-company restructuring intended to strengthen independent oversight.
The proposed financing remains subject to approval by the IFC board. The institution cautioned that the projected December 18, 2026, decision date is an estimate and does not constitute confirmation that the loan will proceed.
