GBfoods deepens African footprint with $10m GBHub investment

Onome Amuge

GBfoods Africa, a key player in the continent’s food sector, has unveiled a $10 million seed funding initiative, GBHub Africa, aimed at strengthening Nigeria’s and the broader African food value chain. The impact-driven project seeks to enhance nutrition, tackle pressing food security challenges, and generate sustainable employment opportunities for the continent’s youth and women.

GB Foods is renowned for offering a diverse range of food products, with  popular brands including Gino tomato paste, Jago milk powder, Bama mayonnaise, amongst others.

Speaking at the launch event in Abuja recently, Nelson Madiba Amo, the executive director of GBHub Africa, detailed the hub’s investment focus areas. These include the production of organic fertilisers and animal feed, the establishment of block farming initiatives, the industrialisation of various value chain segments, the development of sustainable packaging solutions and packaging waste management systems, as well as providing crucial support for start-ups and micro, small, and medium-sized enterprises (MSMEs).

Amo explained Nigeria’s selection as the initial operational base for GBHub Africa, citing the nation’s central role in Africa’s economic and demographic landscape. 

“GBfoods Africa is launching this new vehicle, HubAfrica, to make a deliberate and sustainable impact in the communities where we operate. 

“We are looking at various points along the food value chain, from primary production to value addition, market access, and even inputs into farming itself,” he stated. 

According to Amo, the initiative’s overarching goal is to minimise food waste, ensure fair market access for farmers, and expand processing capacities across the agricultural sector.

Vincent Egbe, the managing director of GBfoods Nigeria, spoke on the strategic imperative of cultivating local agricultural ecosystems to secure a reliable supply of raw materials for the company’s manufacturing operations. He highlighted GBfoods Nigeria’s substantial investment of over N120 billion in the country over the past seven years, with plans for an additional N25 billion injection this year.

“GBfoods is almost 90 years old globally and has been in Nigeria for about eight years. Our success is based on a foundation of faith, long-term shareholder commitment, and belief in Nigeria’s pivotal role in Africa’s future prosperity,” Egbe noted.

Vicenç Bosch, the chief executive officer of GBfoods Africa, outlined the company’s dual strategic pillars: localisation, focusing on local recipes, talent, and sourcing; and sustainability, encompassing nutrition, environmental stewardship, and social impact. 

“For us, profit is not only financial returns but also creating lasting social value. 

“GBHub Africa enables us to go beyond company boundaries to invest in projects with measurable societal impact,” Bosch explained.

Abubakar Kyari, the minister of agriculture and food security, lauded the initiative as a beacon of hope for Nigeria’s farming communities and the broader economy. He called for enhanced collaboration between the government, the private sector, and civil society organisations to achieve lasting transformation within the agricultural sector.

“The launch of GB Hub Africa is not just a project; it is a commitment to transform Nigeria into a self-sufficient powerhouse of agricultural production,” Minister Kyari affirmed.