Olawale Rotimi Opeyemi, founder and chief executive of JR Farms Limited says his farm valuation has grown to $5 million despite the COVID-19 pandemic outbreak as the company consolidates growth in its operations in Africa.
JR Farm, a private and youth-led agribusiness, currently owns and controls the land, building, machinery, and financial assets in Nigeria, Rwanda, Zambia, and the Netherlands where her operations cover food processing, agro-commodity trading, and agro-consultancy.
Opeyemi, who made this known in an interview with journalists in Ilorin, the Kwara State capital recently pointed out that the development had brought gains to many agribusiness companies as their revenue increased and more jobs were created in the agricultural sector.
The agricultural expert explained that despite the fortune enjoyed by some agribusinesses, many also faced some economic challenges posed by the pandemic.
However, in a valuation report where the company’s statements of financial performance and assets were considered to reveal the true economic potential and earning power of the company, the unit value shares of the firm soared significantly to $218.06 per share.
He says the market for agricultural products all over the world is extremely large with unfulfilled demand, adding that during the pandemic lockdown, demand for food items increased which brought gains to many agribusiness companies as revenue increased and more jobs were created in the agricultural sector.
Opeyemi, equally informed that JR Farms had in July 2020 launched Green Agribusiness Fund, a funding initiative designed to invest in the farm. The initiative was piloted for applicants in Nigeria and Rwanda respectively.
The farm is a leading agribusiness company, determined to transform agriculture in Africa by undertaking opportunities for growth and business that will engender sustainable food production and increased incomes for farmers in Africa.
