Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Company News

Why Bob Geldof Invested $80MN In Beloxxi

Onome Ohwovoriole by Onome Ohwovoriole
March 29, 2017
in Company News
Why Bob Geldof Invested $80MN In Beloxxi
Share on FacebookShare on TwitterShare on Linkedin

Nairametrics|Bob Geldof and his private equity firm, 8 Miles LLP, may be unfamiliar names to the average Nigerian, even less known to the younger generation. Beloxxi and its products on the other hand are household names in the country. Beloxxi Cream Crackers are a fast selling food product in Nigeria.

The company is one of few firms in Nigeria that have successfully transitioned from importing to manufacturing. The recent investment of $80 Million will enable the firm double its production capacity from 40,000 metric tonnes to 80,000 metric tonnes. 8 Miles also invested in Blue Skies, an African firm engaged in fruit production with plans on expanding into Nigeria and West Africa. Agriculture and food production, are a growth area since Nigeria’s population has a high proportion of youths.

Food is a basic necessity of life. There has been a resurgence in agricultural activities, and the present administration in Nigeria is committed to helping the sector grow through policies such as its fertilizer scheme and various concessionary loans to farmers by the Central Bank of Nigeria (CBN).
Nigeria is also a major gateway to the West African market, because it is the most developed economy. Many firms use Nigeria as a manufacturing base and then export to other countries in West Africa.

RelatedPosts

Buhari says agriculture policies, investments saved Nigeria from global supply disruptions

Company Focus: Vitafoam Nigeria Plc., providing comfort to Nigerians

8 Miles’ equity investment would enable Beloxxi to expand easily. Access to finance is a major stumbling block for many Nigerian firms. High inflation, infrastructure deficit and several other issues have made Nigerian banks to continue to lend at double digit rates. Most manufacturers cannot afford to take such loans and repay them without defaulting. The huge depreciation of the Naira means the private equity firm, 8 Miles LLP, got a good deal in this transaction.

Private equity firms tend to sell their stakes after a few years, so 8 Mile would very likely sell its stake at a significant premium, as the economy would have recovered from recession.

News continues after this ad


Related

Tags: AgricultureConsumer GoodsManufacturingNigerian recession

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • 24 Hours Power Supply: Ikeja Electric Sign Tripartite Agreement with Enaro Energy and Ayobo Community
    • Seplat debunks alleged impropriety in securing ministerial consent to acquire Mobil Nigeria
    • Oando Holds Successful 43rd AGM: All Resolutions Passed

    Follow us on social media:

    Recent News

    24 Hours Power Supply: Ikeja Electric Sign Tripartite Agreement with Enaro Energy and Ayobo Community

    24 Hours Power Supply: Ikeja Electric Sign Tripartite Agreement with Enaro Energy and Ayobo Community

    August 10, 2022
    Seplat Energy Chief Executive Officer, Seplat Energy Plc, Roger Brown

    Seplat debunks alleged impropriety in securing ministerial consent to acquire Mobil Nigeria

    August 10, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com