Sahel Capital has deepened its footprint in Nigeria’s agricultural sector with a $590,000 financing deal for Rasad Nigeria, a cocoa and cashew-focused agribusiness operating out of Ogun State.
The transaction, completed on 6 August, was structured under Sahel’s Social Enterprise Fund for Agriculture in Africa (SEFAA), a vehicle dedicated to advancing inclusive growth for smallholder farmers across 12 Sub-Saharan African markets.
The credit facility is divided into two parts: $450,000 in working capital to support day-to-day operations and $140,000 for capital expenditure, aimed at scaling Rasad’s processing and trading capacity.
Founded in 1997 by the Adeagbo family, Rasad aggregates produce from over 1,000 smallholders and local suppliers, connecting them to domestic and global buyers. The company has built resilience in Nigeria’s cocoa sector through its proactive sourcing model, which includes outreach to border communities and strategies to mitigate commodity price volatility.
“Rasad is making a meaningful impact by linking smallholder farmers to reliable markets,” said Deji Adebusoye, Partner at Sahel Capital. “Its approach ensures year-round procurement cycles and strengthens sustainability in Nigeria’s cocoa value chain.”
Legal advisory on the transaction was provided to Sahel and SEFAA by Jackson, Etti & Edu, led by co-managing partner Folasade Olusanya and partner Adekunle Soyibo, while Rasad relied on its in-house legal team.
Since its founding in 2010, Sahel Capital has raised over $100 million for investments across Africa’s food and agriculture sectors, reaching more than 200,000 smallholders with funding and support.
The deal follows a string of notable African investment transactions, including Alterra Capital Partners’ stake acquisition in South Africa’s Cobra Group Holdings, advised by Bowmans in August.
