Nigerian Agritech Tomato Jos Secures USD 2 M Debt To Expand Tomato Processing

Tomato Jos Farming and Processing, a Kaduna-based tomato paste manufacturer founded in 2014 by Mira Mehta, has secured a USD 2 M naira-denominated impact-linked debt facility from Sabou Capital.

The company operates a vertically integrated tomato business, including a farm in Kaduna and a USD 5 M processing plant, and sources tomatoes from more than 3,000 smallholder farmers, 60% of whom are women.

The financing will support expansion of its farmer network and processing capacity as Tomato Jos targets at least 10% of Nigeria’s tomato paste market and aims to source at least half of its raw materials from smallholders.

The funding comes after Nigeria’s recent ban on tomato paste imports, which has created an opening for domestic producers to replace imported processed tomato products.