Tomato Jos Inc., a vertically integrated tomato farming and processing company in northern Nigeria, has secured a $2.5 million investment from the European Union-funded Agriculture Financing Initiative (AgriFI) to expand production, processing and its engagement with smallholder farmers….
Tomato Jos Inc., a vertically integrated tomato farming and processing company in northern Nigeria, has secured a $2.5 million investment from the European Union-funded Agriculture Financing Initiative (AgriFI) to expand production, processing and its engagement with smallholder farmers.
The investment, structured as a convertible note, was signed by EDFI Management Company (EDFI MC) through the AgriFI ACP Regional Window.
The financing will support the acquisition of packaging equipment, factory upgrades and expansion of drip irrigation, while helping Tomato Jos introduce new product formats and reach additional markets, including business-to-business and hospitality customers.
More than half of the company’s raw materials are currently sourced from smallholder farmers in Kaduna State.
The investment is expected to lower energy and production costs while strengthening the economics of local tomato processing and reducing post-harvest losses.
EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, said the investment would help create local value across the tomato supply chain while expanding opportunities for smallholder farmers, particularly women.
“Through the EU-funded AgriFI ACP Regional Window, this investment in Tomato Jos supports a Nigerian business that is creating local value from farm to shelf, reducing post-harvest losses and expanding market opportunities for smallholder farmers,” Mignot said.
Tomato Jos plans to increase annual fresh-tomato production from just over 4,500 tonnes currently to about 16,000 tonnes by 2029.
The company also expects to expand its smallholder farmer network from approximately 500 farmers to 1,500 over the same period, while targeting an increase of more than 150 per cent in income per farmer between 2024 and 2029.
The investment could also help deepen Nigeria’s tomato processing capacity and reduce reliance on imported tomato products by increasing the availability of locally processed tomato paste.
Tomato Jos CEO Mira Mehta said the funding would support expansion, reduce energy costs and the company’s carbon footprint, while creating more reliable economic opportunities for farming communities.
The company expects the investment to help catalyse a further $6 million equity round in 2028, representing an anticipated leverage factor of 3.2 times.
The deal comes as Nigeria continues to seek greater private investment in agriculture and stronger domestic processing capacity to reduce losses between farms and consumers.
Beyond Tomato Jos itself, the planned expansion could benefit farmers, processors, input suppliers, logistics operators and other businesses linked to the tomato value chain if the projected production and sourcing targets are achieved.
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