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Tag: Neveah

  • Neveah ranks 21st on financial times 2025 list of Africa’s fastest-growing companies

    Neveah ranks 21st on financial times 2025 list of Africa’s fastest-growing companies

    Neveah Limited has been ranked 21st on the 2025 edition of the Financial Times Africa’s Fastest-Growing Companies list, and 1st in the Metals and Mining category. 

    The recognition marks a significant milestone in the company’s journey, affirming its position as one of the continent’s most dynamic and resilient enterprises. 

    Founded with a bold vision to transform Africa’s participation in global trade, Neveah has consistently demonstrated exceptional growth, strategic agility, and a deep commitment to innovation. 

    The company’s rise to prominence is not merely a story of numbers, but one of purpose-driven leadership and a relentless pursuit of excellence. 

    Over the years, Neveah has expanded its footprint across international markets, strengthened its operational capabilities, and delivered consistent year-on-year revenue growth, all while maintaining a strong focus on sustainability and value creation. 

    What makes this achievement particularly remarkable is the context in which it was realised. 

    In a period marked by economic uncertainty, currency volatility, and inflationary pressures, Neveah not only weathered the storm but thrived. 

    The company made a bold and forward-looking investment in a multi-billion naira aluminum and copper recycling plant, an ambitious project that underscores its commitment to industrial innovation and environmental stewardship. 

    This strategic move, while capital-intensive, reflects Neveah’s long-term vision to drive sustainable development and create highimpact opportunities within Nigeria’s non-oil export sector. 

    Despite the challenges posed by the fluctuating naira and broader macroeconomic instability, Neveah’s performance has remained resilient. Its ability to maintain momentum and deliver value in such a volatile environment speaks volumes about the strength of its leadership, its workforce’s dedication, and its business model’s soundness.

     CEO of Neveah Limited  Ibidapo Lawal, said: “This recognition by the Financial Times is a powerful validation of our journey. It reflects not just our growth, but our grit. We are proud of what we’ve achieved, but even more excited about what lies ahead. 

    “Our mission remains clear: to build a globally competitive African enterprise that delivers value, empowers communities, and champions sustainability.” 

  • High cost of living: Neveah raises workers’ salaries by 44%

    High cost of living: Neveah raises workers’ salaries by 44%

    Export commodity firm Neveah Limited has announced a substantial salary increase for all its employees.

    This move came on the heels of hardship faced by many workers due to economic recession. With rising inflation, increasing costs of living, and stagnant wages, many Nigerians have been struggling to make ends meet. 

    The CEO Ibidapo Lawal in a statement at the weekend said starting this month, all employees at Neveah will receive a salary bump of over 44 per cent on average, with some 

    workers receiving an increaseof up to 70%. 

    The increase will bring the average salary at Neveah to well above industry standards and is expected to have a significant impact on the overall morale and motivation of the workforce.

    Neveah’s decision to increase salaries by such a significant percentage has been met with widespread praise and appreciation from employees and industry experts alike.

    “We understand the challenges that our employees are facing, and we want to do everything we can to 

    support them during these difficult times.

    Read Also: Neveah redeems N2.04 billion CPs

    “We believe that investing in our employees is not only the right thing to do morally, but it also makes 

    good business sense. Happy and financially stable employees are more productive, engaged, and committed to the company’s success,,” he said.

    Employees at Neveah were thrilled by the announcement with many expressing their gratitude for the company’s generosity and commitment to their well-being. 

    Industry experts have also applauded Neveah’s decision, citing it as a positive example of how 

    companies can support their employees during times of economic uncertainty.

    Neveah Limited is a leading indigenous commodities exportcompany in Nigeria that deals in agro 

    commodities, base metals and minor metals. The company exports to over 15 countries within

    Europe, Asia, and North America.Working closely with select suppliers for its materials, Neveah provides the best products at the most affordable prices to its global customers. In 2022, 

    Neveah Limited was awarded Sectoral Exporter of the year by the Nigerian Export Promotion Council 

    (NEPC). Most recently, the company was ranked 18th on Financial Times London list of Africa’s 

    100 Fastest Growing Companies.

  • Firm redeems N2b commercial paper issuance

    Firm redeems N2b commercial paper issuance

    A commodity trading company, Neveah, has redeemed its obligation of N2.923 billion Series 7, 8 and 11 commercial paper notes issued in February, May and July.

    The firm, which exports solid minerals and agricultural products, reported a revenue growth of 847.8 per cent from N2 billion in 2019.

    Neveah has expanded from a small commodity trading to exporter of quality solid minerals and agro-commodities, as well as logistics.

    The growth led to successful registration of a N20 billion Commercial Paper Programme in April.

    Shortly after, the company raised N11.12 billion via its Series 6-15 Commercial Paper Issuance to meet working capital requirements.

    Read Also: Rumpus in federal civil service over permanent secretaries’ deployment

    Chief Executive Officer, Ibidapo Lawal, said: “… Neveah remains dedicated to fulfilling its obligations, showcasing our commitment to financial prudence and sustainable growth.”

    Managing Director of Investment Banking at United Capital, Dr. Gbadebo Adenrele, said “United Capital is thrilled to have assumed responsibility of Lead Arranger while supporting Neveah through its capital-raising and settlement of N2.923 billion, Series 7, 8 and 11 Commercial Paper Issuance under its N20 billion Commercial Paper Issuance Programme.

    “Neveah has shown its commitment to utilising funds from capital markets to improve revenue and profit…’’

    “They have consistently demonstrated their competency in the export industry, and United Capital Plc will continue to use its in-depth knowledge of the capital markets to help Neveah and other SMEs and mid-market enterprises seeking to access funding.”

    Neveah Limited, a fast-growing commodities export company registered by the Nigerian Export Promotion, exports commodities to Switzerland, Germany, the United States, Hong Kong, and China.

  • Neveah redeems N2.04 billion CPs

    Neveah redeems N2.04 billion CPs

    Neveah Limited has redeemed its N2.04 billion Series 13 Commercial Paper (CP) notes issued in July.

    Since incorporation in 2014, Neveah’s revenue has grown by 445 per cent between 2019 and third quarter 2023.

    Neveah is a commodity trading company essentially dealing in the export of solid minerals and agricultural products.

    The firm has expanded its offerings from a small commodity trading operation to a full-fledged food and agribusiness, encompassing semi-finished and consumer goods, commodities trading and logistics.

    This growth facilitated the successful registration of a N20 billion CP programme in April 2023.

    The company raised N2.04 billion via its Series 13 Commercial Paper Issuance to meet working capital requirements.

    Chief Executive Officer, Neveah Limited, Mr. Ibidapo Lawal, said the objective of the company was to be the foremost export company for solid minerals and agricultural products in Nigeria.

    “This issuance will assist us in meeting our working capital requirements and further strengthening our capacity to realise our objectives. We extend our appreciation to all the parties involved in making this a success,” Lawal said.

    Read Also: Neveah to promote solid minerals in London

    Managing Director, Investment Banking, United Capital Plc, Dr. Gbadebo Adenrele, said his firm was excited to have taken on the role of lead arranger in supporting Neveah throughout its successful capital-raising.

    “This accomplishment reflects the company’s dedication to realising its strategic growth objectives.

    “We will persist in leveraging our extensive expertise and skills to facilitate Neveah and other small and medium-sized enterprises (SMEs) in accessing the capital markets for funding their growth and expansion strategies,” Adenrele said.

    Neveah was awarded a long-term rating of BBB+ by DataPro Limited and Bbb-by Agusto & Co which reflects Neveah’s good credit quality and adequate capacity for timely payment of financial commitments.

    The rating shows fair financial strength, operating performance, and business profile when compared to the standard established by the rating agency.

    Neveah Limited aims to continually improve its business processes, thereby delivering value to stakeholders both internally and externally.

    Neveah’s major markets are in Europe, North America and Asi. It was recently awarded the 18th fastest-growing company in Africa by Financial Times UK.