The company Multi-Trex Integrated Food Plc is branching out from just cocoa. Managing Director Mr. Yusuf Isiaka laid out new plans at their annual meeting in Warewa, Ogun State. They aim to start making bottled water, liquid chocolate drinks, and other agro-commodities. Production is scheduled to restart early next year, beginning with cocoa powder, followed by more consumer goods like chocolate bars by 2027.
With debts cleared and a clean slate from AMCON, the firm is planning a major financial push. Isiaka mentioned injecting over five billion naira into operations within five years, funded mostly by internal revenue and potential equity deals. They will only go to banks as a last resort for working capital. A key part of the strategy involves new strategic investors who control a large share of Nigeria's cocoa market. Their expertise and supply chain access should secure raw materials and aid a quick market recovery.
The company also intends to settle liabilities with former workers and will use cocoa from its own sixteen-hectare farm, established back in 1999. Isiaka thanked shareholders for their patience during the receivership period. He expressed confidence that retooling their factory lines and focusing on value-added products for export, in line with federal policy, will restore the company as a market leader.
With debts cleared and a clean slate from AMCON, the firm is planning a major financial push. Isiaka mentioned injecting over five billion naira into operations within five years, funded mostly by internal revenue and potential equity deals. They will only go to banks as a last resort for working capital. A key part of the strategy involves new strategic investors who control a large share of Nigeria's cocoa market. Their expertise and supply chain access should secure raw materials and aid a quick market recovery.
The company also intends to settle liabilities with former workers and will use cocoa from its own sixteen-hectare farm, established back in 1999. Isiaka thanked shareholders for their patience during the receivership period. He expressed confidence that retooling their factory lines and focusing on value-added products for export, in line with federal policy, will restore the company as a market leader.
