JBS SA, the world’s largest meat producer, plans to invest approximately $2.5 billion to establish its first meatpacking facilities in Africa, Bloomberg reported.
The company has signed a memorandum of understanding with the Nigerian government to construct three poultry plants, along with two beef plants and one pork facility, over the next five years, according to a company statement.
This investment marks a strategic move for JBS, which operates processing facilities from Colorado to New Zealand, to diversify beyond its established markets like the US. With a population exceeding that of Brazil and an economy projected to more than double by 2050, Nigeria offers significant growth potential, the company noted.
“Our aim is to build a strong partnership and help Nigeria combat food insecurity,” said JBS Global CEO Gilberto Tomazoni. “Creating a sustainable food production chain fosters a virtuous cycle of socioeconomic development, particularly for vulnerable communities.”
