Wilmar International Limited, founded and headquartered in Singapore, has announced a joint venture with Tropical General Investments Group to merge their operations in Nigeria and the Republic of Benin. The partnership, structured as a 50:50 joint venture, aims to create an integrated platform spanning agriculture, food manufacturing, and distribution, with a market size exceeding US$12b.
The collaboration will combine Wilmar’s expertise in palm oil and consumer goods with TGI Group’s established brands and distribution network. This strategic move is designed to address food production and distribution challenges in the region, leveraging both companies’ strengths to provide affordable consumer products across West Africa.
Kuok Khoon Hong, Chairman and CEO of Wilmar, highlighted the significance of the venture, stating, “Nigeria and the Republic of Benin are key consumer markets in Africa, supported by a population of more than 260 million.” He emphasised the potential of the combined businesses to contribute to the region’s long-term development.
Completion of the transaction is anticipated by the end of 2026, pending regulatory approvals. The joint venture will be managed by a Singapore-based holding company, equally owned by Wilmar and TGI Group.
TGI Group’s Founder, Cornelis G. Vink, expressed optimism about the partnership, noting that it will “leverage Wilmar’s global scale and expertise as well as TGI’s local knowledge to deliver innovative food solutions across Africa.” This venture marks a significant step in enhancing the food and agriculture sectors in West Africa, promising sustainable growth and value creation.
