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    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

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    Wike describes Seyi Makinde as chief architect of PDP problems

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    President Bola Tinubu Approves New Heads of Federal Agencies & Commissions

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    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

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    Breaking: President Joe Biden diagnosed with “aggressive” cancer

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    Mexican Navy Ship crashes into New York Bridge

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    Pope Leo XIV holds inaugural mass, sets tone for his papacy

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    UK tightens visa rules for care workers, skilled workers and students

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    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

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    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    Dangote Group announces major investment in rice production

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    NNPC Ltd Announces Maintenance Shutdown of Port Harcourt Refinery

    Security features of the new naira notes revealed by the CBN

    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

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    NGX Daily Equities Market Report: Market gains for third consecutive days

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Home Business Agriculture

Cassava Processing Gets US$500m Boost by an Investment Consortium

Monday, 19 April 2021, 12:26 pm
in Agriculture, News
0
Cassava Processing Gets US$500m Boost by an Investment Consortium
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Zealhosts Project Bolt Consortium, a team of both local and foreign partners comprising technocrats and business developers, are set to invest a whooping US$500m into the Nigerian cassava processing value chain.

Members of this consortium include Zealhosts Consulting Services, Berwick Agro, ALTS Consulting, H2AFoods Nigeria, and U.S.-based food and agribusiness advisory service companies, Shine Bridge Global with the support of AfricaGlobal Schaffer, according to the News Agency of Nigeria (NAN). This is a strategic Public Private Partnership between the consortium and the Federal Ministry of Industry, Trade and Investment, it was disclosed.

A partner of the consortium and the Chairman, Shine Bridge Global, Dr. Tony Bello, who disclosed this last Friday, said in a statement, that the investment would be carried out under ‘Project Bolt’ programme in order to accelerate achievement of set goals.

According to Dr. Bello, “As a team of technocrats and business development partners in Nigeria and the U.S. we are focused on industrialization of cassava into functional food ingredients for the manufacturing of consumer-packaged goods in Nigeria.

“Not only Nigeria but for export to regional West African and to North American and European markets as well,” he said.

He also said that, “…like Usain Bolt, speed is of essence in the programme implementation; we have completed innovation of new food products such as snacks, crackers, shawarma and pizza crust made from cassava.

“Together we shall tackle the issues of unemployment, create jobs for our youths, women and smallholder farmers in Nigeria.

“We commit to over 750,000 new direct and indirect jobs in the implementation of Project Bolt and we are present in six states and looking to expand to a minimum of 10 States in food manufacturing in Nigeria,” he disclosed.

He concluded that the investors would apply global food safety initiatives and export market promotions to drive import substitution and Forex earnings.

Azuka Edokobi
Azuka Edokobi

Azuka Edokobi is a Writer , a Farmer, a Supply Chain Expert and an Entrepreneur

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