FLO MUVINA NIGERIA LIMITED
Description
Flo Muvina (FLM) is an agro-commodity supply chain catalyst – building a system that sustainably creating a constant market for smallholder farmers (in a sustainable manner) and guaranteeing food processors supply of grains all year round to meet their processing needs. Our focus commodities today include maize, paddy rice, soybean, sorghum and sesame.
Market Opportunity/ Problem
The demand for agro-commodities in Nigeria is huge. As at 2020, the demand gap for key staples like maize, rice and soybean was about 9.1 million MT (equivalent to US$5.9 billion in value). The agro-commodity sub-sector also plays a critical role in achieving national and inter-governmental food security objectives hence positioned to receiving incentives to drive growth and development in the space. Two major challenges faced by smallholder farmers in the agro-commodity space in Nigeria include a guaranteed market to off take their produce (SHFs) and access to quality input (seeds and fertilizers). Food processors in Nigeria also face a critical challenge around ensuring consistent and reliable supply of quality agro-commodities to meet their processing needs. Our aggregation model that situates warehouses in top producing communities allows SHFs to bring grains to our warehouses and get paid instantly while we facilitate seamless quality check and supply of same to food processors all year round.
Company Information
Years of operation
2
Type of organization
Private company
Stage of the business
Early stage/ Startup
Agribusiness focus
AGGREGATION & SUPPLY OF AGRO COMMODITIES
Agriculture value chain(s) focus?
Cash Crops
Primary country of operation
Nigeria
Other country(ies) of operation
N/A
How many employees does your business have?
106
Does the business have more than 30% women ownership?
No
Does the business have more than 30% youth ownership (under 35 years)?
Yes
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
$5,000,000
What is the split between equity and debt?
30% Equity and 70% debt