Stimulating Agribusiness Investment in Nigeria. Connexus is heading the Finance and Investment Unit under the USAID Feed the Future Nigeria Agribusiness Investment Activity (2018-2023), which aims to facilitate an additional $200 million in agribusiness lending and investment capital through lead agribusinesses. Using a market systems and value chain approach, Connexus is broadening access to finance by strengthening the capacity of financial institutions in the states of Niger, Kaduna, Kebbi, Benue, Ebonyi, Cross River and Delta. Our team is facilitating relationships and deal structuring between lead firms and their micro, small and medium enterprise and farmer networks in leading agricultural value chains (soy, rice, maize, aquaculture and cowpeas). By promoting climate smart agriculture, advocating for positive government policy and working in conflict-affected areas, the project aims to improve the business and enabling environment for agriculture-led economic growth in Nigeria. The team has signed MOUs with 11 financial institutions and 11 investment funds that have demonstrated a commitment to expanding their agricultural portfolios. In 2019, Connexus trained these investors on Agricultural Value Chain Finance and Market Development, as well as Financial and Cashflow Analysis for Agri-SME Lending, using real cases from Nigerian agribusinesses. In addition, the team has already identified a pipeline of potential investments valued over $200 million, which it is working on packaging for financial partners. To date, the team has facilitated $55 million in new agricultural finance to 660 MSMEs.
Client: Cultivating New Frontiers in Agriculture (CNFA); 2018-2023
“The Connexus team have contributed greatly to the USAID Feed the Future funded Nigerian Agribusiness Investment Activity. The field staff are exceptional as has been the support from the home office. While only 1 year into this 5-year project, they have proven to be responsive, innovative, and flexible in adjusting to a very dynamic and complex set of circumstances.” – Dr. Adam Saffer, Chief of Party, Feed the Future Nigeria Agribusiness Investment Activity
Read more about how Connexus helped support the facilitation of $18M in new financing for a Nigerian agricultural social enterprise by clicking this link