Transaction

Cardinal Torch invests NGN 4.5 billion in a cashew processing plant in Nigeria

Announced

1 August 2026

Target

Cardinal Torch Company Limited

Value

$3.3m

Asset class

Infrastructure & Project Finance

Type

Project Financing, Investment

Instrument

Ordinary Shares (Equity)

Lead investors

Cardinal Torch Company Ltd.

Investors

Cardinal Torch Company Ltd.

Sector

Consumer / Agricultural Products

Markets

Nigeria

About the target

Cardinal Torch Company Limited is a Nigeria-based agricultural commodity trading and agro-processing company incorporated in March 2020 and headquartered in Victoria Island, Lagos. The company sources, aggregates, processes, warehouses, and exports key agricultural commodities, including cocoa beans, cashew nuts, sesame seeds, and soybean, supplying international buyers in the United Arab Emirates, Belgium, the Netherlands, Indonesia, and Malaysia. Its core revenue remains anchored in cocoa bean exports, supported by strategically located warehouse facilities in Lagos, Cross River, and Taraba States. In 2026, the company expanded into value-added processing through the launch of Cardinal Treats, a premium consumer cashew brand, and is developing a ten-metric-tonne-per-day cashew processing facility in Siun, Ogun State. The company holds dual credit ratings from DataPro and Agusto & Co., and has launched a NGN 30 billion commercial paper issuance programme.