Jolaks Manufacturing Company Limited, a Sierra Leonean family-owned palm oil refining company founded by businessman, Mahesh Nandwani, has secured a $20 million financing package from Proparco to expand its production capacity and strengthen local food security.
The financing, provided under the Africa Resilience Investment Accelerator initiative, will support Jolaks in increasing local palm oil processing, improving its supply chain and creating a larger and more dependable market for smallholder farmers across Sierra Leone.
Based in Freetown, Jolaks currently processes up to 300 tonnes of crude palm oil daily into edible oil for distribution across the country. Its operations connect local palm oil producers with consumers while supporting the growth of Sierra Leone’s domestic agricultural value chain.
The investment represents a major milestone for the company and strengthens its position as an important player in the country’s food-processing industry.
The $20 million package will enable Jolaks to expand its refining operations and increase the volume of palm oil processed within Sierra Leone.
This expansion is expected to support national efforts to reduce dependence on imported food products, conserve foreign exchange and improve the availability of locally processed edible oil.
Proparco’s Regional Director for West Africa, Sadio Dicko, described Jolaks as a key player in Sierra Leone’s food supply system. He said the financing would allow the company to process more palm oil locally and help secure the supply of the staple commodity.
The transaction was facilitated through the Africa Resilience Investment Accelerator, a Proparco-supported initiative established to increase private investment in fragile and underserved African economies.
ARIA Country Manager for Sierra Leone, Valerie Entsiful, said Jolaks’ emphasis on food security, local production and employment creation is consistent with the programme’s objectives.
The financial support demonstrates growing confidence in Jolaks and its ability to contribute meaningfully to Sierra Leone’s agricultural and industrial development.
Jolaks’ expansion is expected to have an impact beyond the company’s Freetown refinery by creating additional commercial opportunities for smallholder palm oil farmers.
Farmers in several communities have previously faced difficulties finding reliable buyers for their produce. In some cases, harvested palm fruits have gone to waste because producers could not secure a dependable market.
Jolaks provides a regular purchasing outlet, allowing farmers to sell their produce at competitive prices, increase production and improve their household incomes.
Cecilia Jimmy, a Sierra Leonean farmer who has supplied Jolaks since 2001, said the company has maintained a strong relationship with producers and offers competitive prices for their products.
With increased refining capacity, the company is expected to purchase larger quantities of crude palm oil from local suppliers. This could encourage existing farmers to expand production while attracting new participants to the sector.
The expansion could also reduce post-harvest losses and strengthen the connection between rural farming communities, processors, distributors and consumers.
The financing comes as Sierra Leone intensifies efforts to increase domestic food production, create jobs and reduce its reliance on imported commodities.
Minister of Agriculture and Food Security Henry Musa Kpaka has said that investments in palm oil and other agricultural value chains could improve household incomes and help address food insecurity.
He has also highlighted growing private-sector investment in rice, onions, palm oil and flour as an important part of Sierra Leone’s employment creation and import-substitution agenda.
Jolaks’ expansion places the company at the centre of those national development priorities. Increased local processing could generate direct employment at the company’s facilities and create indirect opportunities in farming, transportation, packaging, distribution and retail.
For consumers, greater local production could improve the availability of edible oil. For farmers, it could provide a predictable buyer and encourage increased investment in palm oil cultivation.
Founded by Mahesh Nandwani, a Sierra Leonean businessman of Indian descent who serves as owner and Chief Executive Officer, Jolaks Manufacturing forms part of the wider Nandwani family business network in Freetown.
The network also includes Pee Cee & Sons and Pee Cee Holding Limited, which have established operations in Sierra Leone’s commercial sector.
Under Mahesh Nandwani’s leadership, Jolaks has developed into a major local palm oil processor linking agricultural production with industrial manufacturing and nationwide distribution.
The company’s products are supplied through commercial outlets in Freetown and other parts of the country, connecting locally sourced raw materials with consumers.
The $20 million financing is expected to strengthen that network and enable Jolaks to increase its contribution to Sierra Leone’s food-processing sector.
Beyond expanding one family-owned company, the investment could help deepen local agricultural production, strengthen farmers’ access to markets and build a more resilient domestic food supply chain.
It also shows how long-term private financing can help Sierra Leone process more of its agricultural products locally, create employment and retain greater economic value within the country.
