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Tag: Cavista Holdings

  • Why Cavista Holdings’ investment in Matna Foods matters for Nigeria’s cassava economy

    Why Cavista Holdings’ investment in Matna Foods matters for Nigeria’s cassava economy

    The recent acquisition of Matna Foods Company Limited by Agbeyewa Industries Limited, an agribusiness subsidiary of Cavista Holdings, represents a strategic intervention in Nigeria’s cassava value chain—one that goes beyond ownership change to address long-standing structural gaps in production, processing, and industrial utilization.

    Cassava is one of Nigeria’s most abundant and strategic crops, yet the sector has historically suffered from weak integration between farming and processing, leading to inefficiencies, post-harvest losses, and limited value capture for farmers.

    Cavista Holdings’ investment in Matna Foods is designed to help close this gap by linking large-scale cassava cultivation with established industrial processing capacity, creating a more resilient and efficient value chain.

    Through Agbeyewa, which operates Nigeria’s largest cassava farm, Cavista Holdings has built a strong production base and an innovative in-grower/out-grower scheme that brings thousands of farmers into a reliable, well-organised supply network.

    Matna Foods brings over two decades of processing experience and technical expertise in producing international-standard cassava starch for food and industrial use. Together, they form an integrated platform capable of stabilising supply, expanding processing capacity, and reducing reliance on imports.

    Chairman of Cavista Holdings, Mr. Niyi John Olajide, said the investment reflects Cavista’s long-term approach to value creation:

    “Cavista has a strong history of identifying under-utilised or distressed assets and repositioning them for sustainable growth. The iconic Ikogosi Warm Springs Resort (which was transformed from an abandoned resort into the best holiday resort in Nigeria) is proof of our ability. Our investment in Matna Foods follows this same discipline—strengthening capacity, improving efficiency, and creating jobs, jobs, jobs.

    This is how we build businesses that deliver real economic impact while supporting food security and industrial development.”

    Beyond processing, the acquisition is expected to have a direct impact on farmers by increasing cassava offtake, providing more predictable demand, and strengthening rural livelihoods, especially for smallholder and out-grower farmers across the Southwest.

    Importantly, Matna Foods remains fully operational and open for business, with plans underway to scale capacity, modernise operations where required, and deepen engagement with farmers, suppliers, and industrial customers.

  • UNGA: Cavista partners CCA, NGF to drive foreign investment

    UNGA: Cavista partners CCA, NGF to drive foreign investment

    ..leverages UNGA 2025 to position Nigeria as investment destination

    As part of activities on the sidelines of the 80th Session of the United Nations General Assembly (UNGA), Cavista Holdings, in partnership with the Corporate Council on Africa (CCA) and the Nigeria Governors’ Forum (NGF), hosted a Gala Night in New York to attract foreign direct investment (FDI) and address food insecurity in Nigeria.

    The event highlighted the urgency of driving FDI into Africa’s largest economy while encouraging investors to align with President Bola Ahmed Tinubu’s Renewed Hope Agenda for food security.

    Chairman of Cavista Holdings and CCA, Mr. Niyi John Olajide, said Nigeria must be seen as both a present and future market for “value creation and impact.” 

    He stressed that Cavista invests in Africa with a focus on job creation, noting: “We invest in Africa for three reasons: to create jobs, to create more jobs, and to create even more jobs.”

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    Vice President Kashim Shettima, represented by the Minister of Education, Dr. Tunji Alausa, said the administration’s bold fiscal reforms are already attracting investments and strengthening the private sector.

    The exclusive event drew global investors, international finance leaders, U.S. officials, and a high-powered Nigerian delegation, including Governors Babajide Sanwo-Olu (Lagos), Mohammed Umar Bago (Niger), Dauda Lawal (Zamfara), Emir of Kano Muhammad Sanusi II, Deputy Governor of Cross River State Peter Odey, and several ministers.

    Olajide also showcased Cavista’s flagship projects, including Agbeyewa Farms—home to Africa’s largest cassava farm—its transformation of Ikogosi Warm Springs Resort into a premier hospitality hub, and its digital economy investments through Cavista Technologies and Payzeep, with future expansions into energy and mining.

  • Ekiti Assembly hails Agbeyewa Farms’ cassava initiative, pledges support for agriculture

    Ekiti Assembly hails Agbeyewa Farms’ cassava initiative, pledges support for agriculture

    The Ekiti State House of Assembly has commended Agbeyewa Farms Ltd, a subsidiary of Cavista Holdings, for its large-scale cassava project, describing it as one of the state’s most significant private agro-allied investments.

    Speaker of the Assembly, Rt. Hon. Stephen Aribasoye, made this remark on Tuesday during a visit to the farm’s 5,000-hectare site in Ipao-Ekiti, Ikole Local Government Area, alongside principal officers and lawmakers.

    He noted that the farm’s initiative would boost agricultural productivity, enhance food security, create jobs, and drive infrastructural development in the state.

    Aribasoye also praised the Chairman of Cavista Holdings, John Olajide, and the Managing Director of Agbeyewa Farms, Seyi Aiyeleso, for their vision to make Ekiti a leading food hub in Nigeria.

    While appreciating Governor Biodun Oyebanji for fostering an investor-friendly environment, the Speaker assured that the Assembly would continue to prioritize agriculture in its budgetary process to help achieve food sufficiency in the state.

    He said, “This is beyond just a vision. A vision requires passion and commitment to become reality and that is what we are seeing here today. What I have seen today is a revolution in agriculture, one that will lead to development, create more employment and drive infrastructure growth in Ekiti State.

    “I must commend the government of Ekiti State, under the leadership of Governor Biodun Oyebanji, for making this possible. Of course, such progress cannot happen without the support of the House of Assembly.

    “This achievement is the product of collaboration between the executive and legislative arms of government. And one of the results of that collaboration is what we see today at Agbeyewa Farm.

    “You know, the mantra of Mr. Governor is shared prosperity and truly, this is the best demonstration of shared prosperity. For us in the House of Assembly, we will continue to ensure we make good laws that provide the right enabling environment for investors to thrive and for agriculture to grow.

    “Agriculture is one of the key focuses of this government, we in the House of Assembly have fully bought into it and are giving our full support”.

     Aiyeleso said the Cassava Farm, sited on 102 hectares in 2022 has expanded beyond 2,000 hectares of land with efforts to expand to 100,000 hectares of land by 2032.

    He noted that apart from the four major Cassava varieties being planted such as TME 419, Ayaya, White Lion and Dixon, other species including OBJ1, OBJ2, Baba70, Game Changer, Renewed Hope, among others have been added in 2025 with the vision of making it 13 varieties by 2026.

    Aiyeleso emphasised that Agbeyewa Farms Ltd, whose mission stands on the tripartite of job creation, employment generation and workforce development, currently holds the record of the highest yield per hectare in Nigeria by producing 25 tons per hectare in 2024 with the target of hitting 40 tons per hectare in 2025 and 50–100 tons per hectare in the future.

    He highlighted the farm’s ongoing projects in Cassava cultivation, aggregation, processing agro-trading and community empowerment, stressing that Agbeyewa Farms was committed to food security, youth employment and economic transformation of Ekiti State and Nigeria as a whole.

    This feat, according to him was attained as a result of the mechanization capacity of the farmland, with 26 tractors, ranging from 75HP to 275HP (Massey Ferguson and John Deere), over 8 bulldozers, over 40 ploughing implements, planters and other equipment.

    While the Farmland operates on 70% of mechanical planting, he added that the work chain is also extended to human capital which occupies 30% in order to balance work and productivity.

    Aiyeleso also stressed that the Farm created Ingrown Scheme Programme plots, of about 1 hectare of land in order to give back to the community that lease their land to the company and buy their products at premium prices in order for the community farmers to accumulate maximum profits.

    “Last year, we planted four varieties: TME 419, Ayaya, White Lion, and Dixon. This year, we have added more varieties, including OBJ1, OBJ2, Baba70, Game Changer, Renewed Hope; some of these varieties are so new they have not even been officially named.

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    “Today, Agbeyewa Farm records the highest yield per hectare in Nigeria. While the national average is between 6–8 tons per hectare, our farm achieved 25 tons per hectare last year. This year, our target is 40 tons per hectare, and we are working towards 50–100 tons per hectare in the near future.

    “This is possible because of our mechanization capacity. We currently have 26 tractors, ranging from 75HP to 275HP (Massey Ferguson and John Deere). We have 8 bulldozers, with more on the way, we also own over 40 ploughing implements, planters and other equipment.

    “Agbaye Farm is not just about agriculture; it is about building a community model. We are creating Agbaye Town, which will include: Hostel accommodations, Processing facilities and Farm resorts for visitors”. He added

    On Security, the Company’s Director of Community Engagement, Dauda Lawal emphasized that Agbeyewa Farms Ltd has collaborated with several security agencies in the state to ensure maximum protection of staff and products, adding that the community, which was notorious for criminal activities in the past, has emerged one of the peaceful communities in Ekiti. 

  • Firm’s investment in agric excites Ekiti Reps Caucus

    Firm’s investment in agric excites Ekiti Reps Caucus

    Members of Ekiti State Caucus in the House of Representatives have lauded Cavista Holdings for its contributions to agriculture and tourism development.

    They made this known during a visit to two of the company’s flagship investments — Agbeyewa Farms and Ikogosi Warm Springs Resort and Conference Centre.

    Led by Femi Bamisile, the delegation included AVM Rufus  Ojuawo (rtd), Olusola Fatoba and David Akinlayo.

     The lawmakers were received by Cavista Holdings’ leadership team, including Olumide Olayomi, Vice President/Executive Director of Cavista Holdings, Lanre Balogun, General Manager of Glocient Hospitality, a Cavista subsidiary managing the Ikogosi Resort, and Seyi Aiyeleso, MD/CEO of Agbeyewa Farms.

    At Agbeyewa Farms, located in the heart of Ekiti, the lawmakers expressed deep admiration for the scale, innovation, and impact of the agricultural project. Reputed as Nigeria’s largest cassava farm, Agbeyewa is driving food security, youth empowerment, and rural development in the region.

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    “I used to think I had a farm, but after visiting Agbeyewa, I realized I have a garden,” remarked AVM Rufus Ojuawo.

    Bamisile, who reflected on his time living in the United States, added: “It baffles me that someone can be in his comfort zone in the U.S. and still think of investing in agricultural activity like this in Ekiti. This is more than giving back.”

    David Akinlayo, moved by the transformation he witnessed, pledged further support: “I’m humbled today, and I’m happy because the Chairman of Agbeyewa Farms, John Olajide, is from my constituency. He has done wonderfully well here, and I’m going to sponsor 100 youths from my constituency for training.”

    The visit also included a tour of the Ikogosi Warm Springs Resort and Conference Center, which has undergone significant revitalization under the management of Glocient Hospitality. Once in a state of disrepair, the resort is now reclaiming its place as a premier tourism destination in Nigeria.

    “In my recent visits to Ikogosi, I was dazed that the same resort that had almost lost all its natural ambience and beauty has now been turned around by Glocient. Kudos to John Olajide and his team,” AVM Ojuawo stated.

    Olusola Fatoba emphasized the government’s commitment to supporting such private sector-led initiatives:“We commend our amiable Governor, Mr. Abiodun Oyebanji, for his commitment to driving investment in Ekiti State. We also commend the patriotic zeal of the Chairman of Glocient and Agbeyewa, John Olajide. As members of the National Assembly, we will ensure Agbeyewa receives all the necessary support from relevant government agencies.”

    The visit underscores the growing synergy between the public and private sectors in catalyzing socio-economic transformation in Ekiti State.

    Cavista Holdings remains committed to building companies that create value, generate employment, and contribute to the long-term development of Nigeria.

  • Cavista Holdings elevates two female officials

    Cavista Holdings elevates two female officials

    Cavista Holdings has elevated two women Funlola Akintonde and Anthonia Attoh to senior positions that reflect their outstanding contributions, leadership excellence, and continued commitment to driving transformation across the group.

    Akintonde was promoted to Senior People Director and Chief of Staff to the Chairman, a dual role that places her at the heart of the group’s strategic execution. In addition to leading the group’s people function, she will support Founder and Chairman of Cavista Holdings, John Olajide in aligning enterprise-wide priorities, enhancing cross-functional collaboration, and driving organisational effectiveness.

    Akintnde who is a distinguished Human Resources executive with over 20 years of experience across finance, energy, and tech, holds a Bachelor’s degree in Economics from the University of Ibadan. Her elevation is a testament to her vision, impact, and ability to lead with both heart and strategy.

    Attoh has been appointed Vice President, Operations at Agbeyewa Farms, transitioning from her role as Director of Operations at Cavista Holdings. Since joining the Group in 2024, Attoh has been instrumental in strengthening operational capabilities and professionalizing operational processes across the Group. Her new role will see her focus on driving operational excellence and institutional growth at Agbeyewa Farms, reporting directly to the MD/CEO of the business.

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    She is an alumna of the Institute of Management and Technology, Enugu (HND, Mechanical Engineering) and Lagos State University (MBA, Human Resource Management), and also holds an Associate’s Degree in Business Analysis from The George Washington University School of Business, and is a certified Manager of Quality and Organizational Excellence.

    Founder and Chairman of Cavista Holdings Niyi John Olajide said: “At Cavista, we are deeply committed to recognizing talent and advancing leaders who embody our values of excellence, purpose, and impact. Funlola and Anthonia represent the very best of our organisation. Their leadership, character, and ability to deliver results will play a defining role in the next phase of our growth across industries and continents. I am incredibly proud of them and excited for what lies ahead.”

    These appointments not only reinforce Cavista Holdings’ commitment to empowering women in leadership but also signal the group’s continued investment in top-tier talent to drive lasting impact across Africa and the global markets in which it operates.

  • Firm partners subsidiary to champion agric transformation

    Firm partners subsidiary to champion agric transformation

    Cavista Holdings, in partnership with its subsidiary, Agbeyewa Farms, have reaffirmed commitment to agricultural and industrial future.

    this  commitment was made at World Cassava Day celebration at State House in Abuja, spotlighting cassava as a cornerstone for food security, rural prosperity, and global competitiveness.

     The theme is “Farm to Global Markets: Driving Industrialisation, Food Security & Exports”.

    Delivering the keynote address, Vice President Kashmir Shettima, declared cassava a symbol of national resilience and opportunity.

    “Cassava, which symbolised food security for the vulnerable, signifies prosperity for the ambitious,” said Shettima.

    “This administration is repositioning cassava as a driver of industrial development, rural livelihoods, and import substitution. We are moving from subsidy-heavy programmes to investment-led solutions anchored on private capital, research, and coordinated national action.”

    Chairman of Cavista, Niyi Olajide, emphasised cassava’s strategic importance to national development.

    “We see cassava not just as a crop — but as a strategic asset in Nigeria’s journey toward diversification, rural empowerment, and global competitiveness,” said Mr. Olajide.

    “Our investment through Agbeyewa Farms — with 5,000 hectares already under cultivation — is a bold statement of intent. We believe that the real wealth of a nation lies in its people, and the best policy is jobs, jobs, and more jobs.”

    Olajide, who was represented at the event by the Executive Director and Vice President of Government and External Affairs Mr. Olumide Olayomi, hailed the Renewed Hope Agenda of President Bola Ahmed Tinubu, expressing pride in Cavista Holding’s role as a private sector partner committed to agriculture, job creation, and shared prosperity.

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    “As we celebrate World Cassava Day, let us remember: every hectare planted, every youth trained, every innovation scaled — is a step toward a more secure, prosperous and export-ready Nigeria,” said Mr. Olajide.

     Cavista’s Director of Strategy, Kabir Shagaya, reaffirmed the company’s strategic commitment to food security, inclusive growth, and innovation-led agriculture:

    “At Cavista Holdings, cassava is more than a crop — it is a platform for national development. Our investments reflect our belief that business must be a force for good, with agriculture at the heart of shared prosperity,” he said.

    A major sponsor of the celebration, Agbeyewa Farms is leading Nigeria’s cassava revolution through a landmark public-private partnership with the Ekiti State Government.

    From a modest start just two years ago, the farm now operates at scale; 5,000 hectares under active cultivation, over 1,000 direct jobs created and currently yields up to 32 tons per hectare, exceeding national averages. It also has starch content of 27.7%, above industry benchmarks.

    “Our goal goes beyond cultivation — we are building an integrated value chain to process cassava into starch, ethanol, flour, and more,” said Managing Director of Agbeyewa Farms, Seyi Ayeleso.

    “With support from the Ekiti State Government and strong community partnerships, Agbeyewa is proving that agriculture can be a platform for national pride and prosperity.” Aiyeleso added.