In a bid to boost agricultural businesses and expand its operations in Nigeria, Johnvents Industries Limited, an indigenous agribusiness firm has revealed plans to raise N30 billion.
The firm is raising short-term finance from the Nigerian debt markets and will be issuing commercial papers worth a value of N30 billion which have been registered with the FMDQ Securities Exchange.
Johnvents Industries Group engages in the provision of modern information and communication tools, macro-loans, and farm inputs, such as seedlings and fertilisers, to support farmers and finance their businesses in Nigeria. The group includes three subsidiaries – Johnvents Procurements, Johnvents Cocoa Factory, and Johnvents AgriTrade.
FMDQ Securities Exchange confirmed the registration noting that access to capital remains a top priority for corporates as capital is required to fund business expenditure, expansion aspirations, and meet debt obligations.
FMDQ pointed out that the debt markets fulfill critical funding requirements by availing competitive financing to corporates and governments.
“As Nigeria’s largest securities exchange by market turnover, FMDQ Exchange will continue to provide a liquid, transparent and efficient market geared towards supporting the aspirations of corporates, such as Johnvents Industries, to unlock the required capital to bridge the funding gap in Nigeria’s agriculture sector” FMDQ stated.
Agribusiness is the industry, enterprises, and the field of study of value chains in agriculture and in the bio-economy