Nairametrics|Bob Geldof and his private equity firm, 8 Miles LLP, may be unfamiliar names to the average Nigerian, even less known to the younger generation. Beloxxi and its products on the other hand are household names in the country. Beloxxi Cream Crackers are a fast selling food product in Nigeria.
The company is one of few firms in Nigeria that have successfully transitioned from importing to manufacturing. The recent investment of $80 Million will enable the firm double its production capacity from 40,000 metric tonnes to 80,000 metric tonnes. 8 Miles also invested in Blue Skies, an African firm engaged in fruit production with plans on expanding into Nigeria and West Africa. Agriculture and food production, are a growth area since Nigeria’s population has a high proportion of youths.
Food is a basic necessity of life. There has been a resurgence in…
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