On Thursday 23rd November 2023, the Management of Raedial Farms Limited a subsidiary of Raedial Holdings Limited signed a Partnership Agreement with Compagnie Fruitere, a French company that markets over 900,000 tons of fruits and vegetables across the European markets as well as a major fruit producer in the Africa-Caribbean-Pacific region.
This great economic relationship occurred at the French week 2023 Business summit held at Access Towers, Lagos. The signing was witnessed by prominent persons in the Nigerian and French governments such as the French Minister Delegate for Foreign Trade, Economic Attractiveness and French Nationals Abroad, Olivier Becht; Herbert Wigwe, C.F.R, the President of the France-Nigeria Business Council & CEO Access Bank Plc; Usman Mohammed, the President of the Franco-Nigerian Chamber of Commerce and Industry; Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms to name a few.
The French Week 2023 Business Forum, touted as the largest business networking event in Nigeria, drew together an impressive array of key figures in both countries in a bid to deepen the business and economic interests between the two nations especially since Nigeria accounts for about 20% of France’s trade with sub-Saharan Africa, amounting to an estimate of €3.53 billion.
With this partnership, Raedial Farms Limited will diversify its operations from solely oil palm full-fledged farming activities spread over more than 2500 hectares of land and livestock products to the production of fruits for exportation. The operation will include planting, cultivating, harvesting, processing, distribution and exportation of pineapples and bananas.
Given the long-standing presence of Compagnie Fruitere in Africa and Europe, and its expertise in production, import and export, transportation, ripening and distribution of fresh fruits and vegetables, the partnership will see both companies synergize to benefit from each other’s strengths in the technical, procurement, marketing, production, and distribution aspects of agriculture. The collaboration also aims for an improved cultivation techniques, product quality, sustainability practices and operational efficiency of both companies.
The MD of Raedial Farms Limited, Mr. Uwadiale Agenmonmen said, “For us at Raedial Farms, this partnership further exemplifies our dedication to contributing to the growth of the France-Nigeria Agricultural relationship and shows the pivotal role largescale farming plays in the Agric sector.”
Didier Mas, Technical Director for Africa at Compagnie Fruitere, stated, "Nigeria is a country with massive financial potentials, especially following the current government’s pledge to open up its economy to others in a bid to grow the GDP.”
Speaking at the event, Olivier Becht stated that “This collaboration reflects a commitment to strengthening the countries ties and fostering mutual benefits in agriculture since the agri-food industry stands as a beacon for cooperation between our two great nations especially as Nigeria is France’s first trading partner in Sub-Saharan Africa.”
Raedial Farms Limited is a wholly Nigerian-owned and registered company focused on the sustainable management of farms, palm plantations and livestock with over a decade’s experience with a dedicated workforce of more than 1000 people. It focuses on the seedling, planting, and processing of fresh fruit bunches of palms, to produce sustainable crude palm oil. With over 65,000 palm trees currently being cultivated on 2500 hectares of land and plans to finalize the acquisition of two more existing Palm Plantations – 10,000 and 5,000 acres respectively, Raedial Farms Limited is poised to become Nigeria’s top major player in the Agricultural sector.