Fidelis David in Akure
Johnvents Group, an Africa-based multinational agribusiness and food manufacturing company, on Tuesday disclosed that its combined cocoa-processing facilities in Akure and Ile-Oluji, all in Ondo State, operated at 82 per cent capacity in the first half of 2026, up from 66 per cent recorded in 2025.
The company also revealed that it processed 31,621 metric tonnes (MT) of cocoa in 2025, representing a 50 per cent increase over the previous year, while a further 19,806 MT was processed in the first six months of 2026.
The development came as the company hosted institutional investors and capital-market stakeholders on a tour of its operating facilities, where it showcased its cocoa processing, agricultural commodity aggregation, and downstream food manufacturing operations.
Johnvents currently has a combined annual cocoa-processing capacity of 48,000 MT across its Akure and Ile-Oluji facilities.
The investor tour provided stakeholders with first-hand insight into the company’s production capacity, procurement operations, capacity utilisation, and expansion plans.
Beyond cocoa, the group said its operations covered several agricultural commodity value chains, including food manufacturing, diversified agro-processing, farming, and logistics, with its downstream businesses producing consumer foods, edible oils, animal feed, seasoning, and water.
According to the company, about 75 per cent of its group revenue is linked to export markets, underscoring the role of its operations in connecting Nigerian agricultural commodities and value-added products to international markets.
Speaking on the investor engagement, Group Managing Director, John Adedamola Alamu, said the tour was designed to give investors direct visibility into the scale and performance of the company’s operations.
“We are strengthening the connection between agricultural supply, processing, manufacturing, and markets, with a clear focus on increasing value addition and building globally competitive businesses from Africa,” Alamu said.
Group Head, Treasury, Samuel Olaifa, explained that agricultural commodities were procured during specific crop windows before passing through inventory, processing, sales, exports, and cash collection, making liquidity management critical to the company’s operations.
“Cocoa represents a significant component of this seasonal requirement, reflecting the scale of our processing operations and the concentration of procurement during the cocoa season,” Olaifa said.
He added that the company’s cash-conversion cycle could reach approximately 150 days at the seasonal peak, while typical customer collections occurred within 25 to 40 days.
Olaifa disclosed that since the commencement of Johnvents Industries’ Commercial Paper programme in 2022, the company had issued 27 Commercial Paper series, of which 21 had matured and had been repaid in full.
He stated, “All maturities due to date have been settled on or before their respective due dates. Johnvents is rated BBB+(NG), with a stable outlook, by GCR, while it also maintains institutional relationships with development-finance partners, including the International Finance Corporation and British International Investment.”
Financial Controller of Johnvents Group, Jai Kumar, said the company’s financial strategy remained focused on ensuring adequate liquidity to sustain its agricultural procurement, production and other operational obligations.
“Our working-capital requirements are closely linked to the timing and scale of our operating cycle,” Kumar said.
He added, “Our focus is on maintaining the liquidity required to secure supply, support production and meet our obligations as they fall due.”