The European Union-funded Agriculture Financing Initiative (AgriFI) has committed $2.5 million to Tomato Jos Inc., a tomato farming and processing company in northern Nigeria, to expand local processing, climate-smart agriculture and its engagement with smallholder farmers.
The investment, made through a convertible note by EDFI Management Company (EDFI MC) under the AgriFI ACP Regional Window, will support the acquisition of packaging equipment, factory upgrades and expansion of drip irrigation infrastructure.
The financing is also expected to help the company reduce energy and production costs while expanding its product range and market reach.
Tomato Jos produces packaged tomato paste for the Nigerian market through an integrated model combining its own farming operations, sourcing from smallholder farmers and local processing.
More than half of the company’s raw materials are currently sourced from smallholder farmers in Kaduna State.
The EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, said the investment demonstrated how private financing could strengthen agricultural value chains and create opportunities for farmers.
“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, particularly women,” Mignot said.
He described the initiative as a practical example of the EU’s efforts to mobilise sustainable private investment in inclusive and climate-smart agriculture.
According to Tomato Jos, the investment will also support its expansion into new product formats and customer segments, including business-to-business and hospitality, restaurant and catering markets.
EDFI MC Chief Executive Officer, Rodrigo Madrazo, said Tomato Jos’ integrated business model connects farmers to reliable markets while providing access to land, irrigation, inputs and technical support.
“AgriFI’s investment through the ACP Regional Window will enable targeted investments in drip irrigation and packaging capacity, helping to expand the product offer, reduce production costs, and catalyse further private investment for its next stage of growth,” Madrazo said.
Tomato Jos said it plans to increase annual fresh tomato production from slightly more than 4,500 tonnes currently to about 16,000 tonnes by 2029.
The company also plans to increase the number of smallholder farmers it engages annually from about 500 to 1,500 within the same period.
It is targeting an increase of more than 150 per cent in income per farmer between 2024 and 2029.
The Chief Executive Officer of Tomato Jos Inc., Mira Mehta, said the financing would support the company’s efforts to build a more resilient tomato value chain in northern Nigeria.
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