Agribusiness Investment Activity in Nigeria (2018-2023). Connexus is heading the Finance and Investment Unit under CNFA’s USAID-funded Feed the Future Nigeria Agribusiness Investment Activity, which has facilitated more than $100M in agribusiness lending and investment capital through lead agribusinesses. Using a market systems and value chain approach, Connexus is developing agricultural finance capacity in partner financial institutions (FIs) in the northern states of Niger, Kaduna, Kebbi, and Benue, as well as the southern states of Ebonyi, Cross River, and Delta. Our long-term team is facilitating relationships and deal structuring with lead firms, as well as their micro, small, and medium enterprise and farmer networks associated with their 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 is improving the business and enabling environment for agriculture-led economic growth in Nigeria.
The team has signed MOUs with 13 FIs and 14 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 2020, Connexus delivered a training of trainers on Gender and Youth Financial Inclusion to 29 people from 12 FIs and provided follow-up technical assistance. Connexus also organized a deal making workshop for equity investors and trained 93 agri-SMEs on how to prepare an investment pitch. In 2021, Connexus organized another deal making workshop for debt and equity investors, training 70 agri-SMEs on how to prepare an investment pitch. In 2022, Connexus is working with several FIs to develop, adapt, and pilot test products and delivery mechanisms to expand agri-SME lending. To date, the team has facilitated $100M in new agricultural investment to 11,426 micro, small, and medium enterprises, including 51.4% in debt and 48.6% in new capital. Of the 11,729 individuals benefiting from assistance, 24.6% are female and 12.5% are youth.
Client: Cultivating New Frontiers in Agriculture (CNFA); 2018-2023
“The Connexus team has contributed greatly to the USAID Feed the Future funded Nigeria Agribusiness Investment Activity. The field staff are exceptional as has been the support from the home office. While only one year into this five-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
