Nigeria: Sahel Capital makes follow-on investment in agribusiness firm
Sahel Capital has closed a $1.5 million working capital loan to Rasad Nigeria.
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Sahel Capital has closed a $1.5 million working capital loan to Rasad Nigeria through its Social Enterprise Fund for Agriculture in Africa (SEFAA).
The new facility represents a renewal and scale-up of SEFAA’s earlier financing and will support Rasad’s growing working capital needs across the cocoa value chain.
Rasad is a family-led agribusiness based in Ogun State that aggregates cocoa and cashew from over 1,000 smallholder farmers and aggregators across Nigeria. The company supplies both domestic and international buyers.
“Rasad has demonstrated strong operational discipline and consistent growth since our initial investment,” said Deji Adebusoye, partner at Sahel Capital. “This increased facility reflects our confidence in the company’s execution capacity and its role in supporting inclusive growth in Nigeria’s agricultural value chains.”
Commenting on the transaction, Ahmed Adeagbo, director of strategy and finance at Rasad, said: “Even with the global headwinds in the cocoa market, our business has remained resilient. We are making strong progress on our Rasad 2.0 strategy, including the spin-off of Axias Global, which will focus on export trading, circularity initiatives, and value-added processing of agricultural produce. Over the past five months, we’ve run a series of experiments with very encouraging results, and we are now doubling down on them. It’s an exciting time for us, and we’re glad to have Sahel Capital supporting us on this journey.”
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