Zichis Agro Allied Industries Plc (Zichis), one of Nigeria’s emerging integrated agribusiness companies has disclosed a strategic non-equity capital injection of N2 billion into the Company by its core promoters, Chilla Entertainment Limited and Winners Investment & Trust Limited.
“This is a senior liability to the Company which will be treated as a long-term liability in the balance sheet of the Company to be redeemed at a future date in terms of debt conversion to equity during a public offer or right issues,” the company said in a statement at the Nigerian Exchange Limited (NGX).
It further noted that the capital injection further demonstrates the promoters’ continued confidence in the Company’s vision, growth prospects, and long-term value creation strategy.
“This significant funding commitment represents a major milestone in the Company’s ambitious roadmap towards its planned growth and expansion programme, which is designed to transform Zichis into one of Nigeria’s leading agro-industrial enterprises with a fully integrated value chain spanning feed production, poultry farming, palm cultivation, and agro-processing,” Zichis said. Related News Blue economy investments to unlock 50% boost in Rivers IGR – EMR Blue economy investments to unlock 50% boost in Rivers IGR – EMR World Cup 2026: Infantino to face media scrutiny over ticket prices, U.S. visa policies
