Elideb Multiventures
Description
Elideb Multiventures is an agro-based processing company involved in the second-tier value addition to agricultural crop with expertise in production, local distribution, raw material collection and export of these commodities. The company processes tomatoes into paste and powder without chemical preservatives, colorant or sugar addition.
Market Opportunity/ Problem
Nigeria is ironically the world’s 14th largest tomato producer and the world’s 13th largest importer of tomato paste. Although approximately 200,000 Nigerian farmers grow over 2.3 million metric tonnes of tomatoes every year, almost half of their harvest is lost before reaching the market, and the remaining 50% is subject to significant downward pressure on price due to common gluts in the markets and the perishable nature of the crop.
Company Information
Years of operation
3
Type of organization
Sole Proprietorship
Stage of the business
Early stage/ Startup
Agribusiness focus
Value addition/ processing
Agriculture value chain(s) focus?
Food Crops
Primary country of operation
Nigeria
Other country(ies) of operation
N/A
How many employees does your business have?
10
Does the business have more than 30% women ownership?
Yes
Does the business have more than 30% youth ownership (under 35 years)?
Yes
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
Above $1m
What is the split between equity and debt?
60% debt and 40% equity