A Business Model Grounded in Reality, not Grandiose Aspirations
Investment in the Nigerian rice industry has focused on the capex intensive set up of large, centralised mills which typically are working sub-optimally well below capacity, due to poor paddy supply.
Though grandiose on paper, these projects tend to boost egos more than they do production or the bottom line.
Our go-to-market strategy is to deploy a network of decentralised mini rice-mills and distribution centres across southwestern Nigeria at first, then nationally, encouraging small farmers to grow rice, thereby stimulating demand for locally produced rice.
This decentralised approach delivers value at the interface with our customers, and their customers, where it matters most.
And crucially, it ensures our smaller mills work at full capacity, all year round.
We Have a Captive Market
Since 2017 we have been the official rice production and rice processing of Ondo State, population 4 million, and created a Joint Venture with the State for the mass production and processing of rice.
We Are Already Operational
Firmly on ground in Ondo, producing, selling our Sunshine Rice, we are well established in the community, backed by the state government, and about to replicate this in two neighbouring states.
Paddy supply secured
➢ We have just closed a deal for the provision of 600 tons of paddy equivalent to $90,000 in gross profit.
➢ We have multiple strategies to source and secure paddy.