Agribusiness Firm Secures N150m To Boost Cassava Processing

Inyene Agro Processing Factory Ltd has secured a N150 million investment from GBFoods Africa to expand cassava processing operations and strengthen food systems in Nigeria.

The investment is expected to increase the company’s processing capacity, reduce post-harvest losses and improve access to nutritious food in underserved communities.

The Akwa Ibom-based agribusiness operates a modular cassava processing facility producing Vitamin A biofortified cassava flakes (garri) aimed at addressing micronutrient deficiencies among vulnerable populations.
Founder of the firm, Blessing Akpan, said the funding will increase processing capacity while enabling diversification into other cassava derivatives.

Speaking on the investment, CEO of GBFoods Africa, Vicenç Bosch, said the company remains committed to supporting enterprises capable of transforming local food systems across Africa.

“Through GBHub Africa, we are investing in local production, strengthening food systems and supporting businesses that can deliver sustainable impact at scale,” he said.

Bosch noted that the investment aligns with the company’s broader commitment to sustainable growth and shared prosperity on the continent.

Also speaking, CEO of GBFoods Nigeria, Vincent Egbe, said Nigeria’s cassava industry holds enormous untapped economic potential despite the country’s reliance on imported cassava derivatives.

“Nigeria produces over 55 million metric tons of cassava annually, yet the country still imports cassava derivatives worth more than $500 million. Bridging the gap between rural production and industrial demand is critical to unlocking value across the agricultural chain,” he said.

Egbe added that the partnership demonstrates how agricultural production can be transformed into industrial and export value while boosting farmer incomes and reducing pressure on the naira.

In her remarks, Akpan described the investment as a major boost to the company’s expansion plans and long-term vision.

“This investment will accelerate our mission to scale sustainable agricultural practices, improve infrastructure, increase food production and expand our reach across communities,” she said.

The investment aligns with GBHub Africa’s broader mission and global commitments under the Nutrition for Growth agenda aimed at combating malnutrition and strengthening food security by 2030.