Babban Gona, Nigerian agri-tech platform, has attracted a $7.5 million debt investment from the British International Investment (BII) to boost food security and climate resilience for smallholder farmers in northern Nigeria.
The investment will help scale Babban Gona’s innovative model that enables farmer-led enterprises access funding, improve yields, income and climate resilience for 140,000 farmers in northern Nigeria by 2029.
“We are thrilled to have them partner with us in this next phase of our journey as we accelerate the impact of our work, with the ambition to become the earth’s highest-impact business,” Kola Masha, managing director, Babban Gona, said at the signing.
“This investment will catalyse the next phase of our journey as we accelerate our work by enabling others to replicate what we do, with a goal to support 50 million smallholder farmers,” Masha said.
He appreciated BII for playing an instrumental role in his organisation’s journey and becoming the first institutional investor in its 2013 public debt raise.
“Now, a little more than a decade later, to have BII commit an amount 10x larger is a powerful testament to our shared vision for bettering the lives of smallholder farmers,” he explained.
Florence Eshalomi, UK trade envoy to Nigeria, said the investment will help scale an innovative, tech-enabled model that empowers farmers with access to finance, training, and services, boosting yields and incomes while building climate resilience.
“From early-stage UK support through Propcom Maikarfi to this milestone investment, Babban Gona’s journey is a powerful example of what’s possible when we invest in Nigeria’s agricultural future.”
“This partnership reflects the UK-Nigeria commitment to sustainable, inclusive growth, and I’m excited to see the impact it will generate.”
Also, Jonny Baxter, British deputy high commissioner in Lagos, said Babban Gona represents the need to bring investment and a private sector approach into Nigeria’s agricultural markets.
Baxter explained that private sector investment is crucial for Nigeria’s growth and this recognises the importance of developing the country’s agricultural sector as a key vehicle for growth, job creation, business investment, women’s economic empowerment, climate resilience and food and nutrition security.
He noted that smallholder farmers and small businesses need access to both finance and sustainable technology to boost their productivity. He explained that it is exciting to know that the Babban Gona franchise model can help farmers and small agribusinesses overcome these key constraints to achieve agricultural growth.
“I am sure this BII investment will enable Babban Gona to go further in achieving its impact and success,” he said, while commending BII for their approach to investment in Nigeria.
“The UK is leveraging a range of business development and financial instruments to promote long term transformative growth in Nigeria, including deepening our trade and investment with Nigeria,” he added.
Benson Adenuga, West Africa regional director and head of office for Nigeria, BII, said the partnership with Babban Gona is a great example of how his organisation is using catalytic capital to support innovative, high-impact business models that transform lives and economies.
“By backing this pioneering franchise model, we are not only addressing a critical financing gap but also helping to build a more resilient and productive agricultural sector and support smallholder farmers in a region that is often overlooked by investors,” said Adenuga.
“This investment will deliver tangible impact at scale, strengthening food security and climate resilience,” he added.
