Cavista Holdings' Investment in Matna Foods Boosts Nigeria's Cassava Economy

Cavista Holdings, through its subsidiary Agbeyewa Industries Limited, has acquired Matna Foods Company Limited to strategically intervene in Nigeria's cassava value chain. The investment seeks to address longstanding structural gaps in cassava processing in Nigeria, aiming to improve efficiency, reduce post-harvest losses, and increase value capture for farmers.

With Matna Foods' expertise in cassava starch production and Cavista's experience in agricultural innovation, the partnership aims to create a resilient and efficient cassava value chain. This move reflects Cavista's commitment to sustainable growth, as seen in its successful transformation of the Ikogosi Warm Spring Resort.

The investment is expected to have a direct positive impact on farmers by increasing cassava off-take, providing stable demand, and enhancing rural livelihoods, especially for smallholder growers in the Southwest region. Matna Foods will continue operations with plans to scale up and modernize its processing capacity, deepening engagement with farmers, suppliers, and customers.