Kellogg Tolaram Nigeria Limited: NGN6 billion

Apr 03, 2017

Stanbic IBTC Capital Limited and Stanbic IBTC Bank PLC (together “Stanbic IBTC”) acted as the sole Arranger and Lender on the NGN6 billion medium term facility to Kellogg Tolaram Nigeria Limited.

Stanbic IBTC leveraged the expertise and experience of other entities within the Standard Bank Group in ensuring a seamless execution of the transaction to deliver an exceptional client experience. This medium term facility was secured to finance the construction of a new cereal manufacturing plant in Nigeria.

Kellogg Tolaram Nigeria Limited is the result of a joint venture between Kellogg Company USA and the Tolaram Group in Singapore to secure a manufacturing plant within Nigeria. Kellogg has emerged as a key player in the Nigerian cereal industry with a current market share of 14% which is currently imported into Nigeria.

At the same time, the Federal Government of Nigeria started to drive efforts to reduce import dependency of Nigerian consumers in a bid to strengthen the local currency which bodes well for Kellogg Tolaram. The project has huge backward integration potential in terms of the supply of raw materials which will further support the local farmers.

This transaction demonstrates the depth of the strength and support that the Standard Bank Group provides in driving investment and growth throughout Africa.

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