Tomato Jos Farming and Processing Limited has launched its much-anticipated Tomato Jos paste variant into the Nigerian market.
The new tomato paste variant, packaged in a 65-gram sachet, is produced directly from fresh tomatoes grown in the country, thereby guaranteeing superior flavour and colour. It is the company’s first consumer product since the commencement of operations at its multi-billion-naira factory in Kaduna state last year.
First City Monument Bank (FCMB) in 2019 financed the construction of Tomato Jos Farming and Processing Limited’s 3.5tons/hr state-of-the-art tomato paste processing plant located at Kangimi, Kaduna State. The funding was through the Central Bank of Nigeria’s Real Sector Support Facility (RSSF) intervention fund to procure plants and machinery for the factory.
Speaking at an event to unveil the Tomato Jos sachet variant, the Managing Director of the company, Mira Mehta, said:
“It is a dream come true. Though entrepreneurship is full of ups and downs, I feel encouraged whenever I see my passion for this business ignite in one of my colleagues. I am incredibly proud of the Tomato Jos team for their hard work and belief that we could achieve something on this scale. The facility is the only one of its kind in Nigeria that can produce sachet tomato products directly from fresh tomatoes. The product is currently available throughout Kaduna State, and we intend to expand to more states by the end of 2022. Our company’s theme for 2021 was ‘Let’s Do This!’ and, well, we did it! The future looks bright for Tomato Jos. We will continue to grow until we become a household name across Nigeria”.
Also commenting on the development, the Managing Director of FCMB, Mrs Yemisi Edun, described the Bank’s funding of the factory as another landmark intervention to boost agribusiness, food security and food sufficiency in Nigeria.
Tomato Jos Farming and Processing Limited, a wholly-owned subsidiary of Tomato Jos Incorporated, has received investment support from the Central Bank of Nigeria through FCMB, Goodwell Investments B.V through Alitheia IDF, VestedWorld, the Acumen Resilient Agriculture Fund, The Morning Star Company, and other private investors.
Tomato Jos Farming and Processing Limited is a for-profit social enterprise that believes in the power of local production for local consumption. It transforms smallholder farmers from subsistence growers to successful commercial producers by empowering them to focus on year-round crop cultivation of tomatoes, maize, soya, wheat, and other crops. The products are offtake from the partner farmers and processed into value-added consumer packaged goods for the Nigerian and West African markets. The company plans to raise an additional $10 million in debt and equity to fund further growth and expand its reach across the country.