Tomato Jos

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Project overview

Tomato Jos is a vertically-integrated tomato farming and processing company located in northern Nigeria, selling packaged tomato products to the Nigerian market. Over half of raw materials sourced are from local smallholder farmers.

Funding objective

EDFI AgriFI will provide a convertible note of USD 2.5 million. The financing aims to support Tomato Jos in further scaling up operations through the acquisition of packaging equipment, factory upgrades, and the expansion of drip irrigation, while supporting the company’s plans to expand product formats and serve new customer segments.

Investment rationale

Tomato Jos’ impact is multifold, in that the processing activity reduces post-harvest losses in the tomato value chain, it substitutes imports of tomato concentrate, provides employment opportunities in a region where such opportunities are scarce, and the company makes a tangible impact on the livelihoods of smallholder farmers through the provision of quality inputs and increased yields and incomes. EDFI AgriFI’s convertible note aims to catalyze a series C capital raise in the next few years and attract DFI financing.