By Amin Kef-Ranger
Freetown, Sierra Leone: Jolaks Manufacturing Company Limited, a family-owned palm oil refining firm founded by businessman Mahesh Nandwani, has secured a $20 million financing package from Proparco to expand its operations and strengthen Sierra Leone’s food security.
The financing, provided under the Africa Resilience Investment Accelerator (ARIA), will enable Jolaks to increase refining capacity, improve supply chains, and create a more reliable market for smallholder farmers nationwide.
Currently processing up to 300 tonnes of crude palm oil daily, Jolaks converts locally produced palm oil into edible oil for distribution across Sierra Leone. The expansion is expected to reduce reliance 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,” noting that the financing will allow the company to process more palm oil locally and secure supplies of the staple commodity.
ARIA Country Manager Valerie Entsiful said Jolaks’ focus on food security, local production, and employment creation aligns with the programme’s objectives to support private investment in fragile African economies.
Beyond strengthening Jolaks’ Freetown refinery, the expansion is expected to benefit rural farming communities by providing a dependable buyer for palm oil producers. Farmers such as Cecilia Jimmy, who has supplied Jolaks since 2001, praised the company’s consistent purchasing and competitive pricing. Increased refining capacity is projected to reduce post-harvest losses and encourage greater investment in palm oil cultivation.
Minister of Agriculture and Food Security Henry Musa Kpaka welcomed the investment, stressing that private-sector growth in palm oil, rice, onions, and flour is central to Sierra Leone’s import-substitution and job-creation agenda.
Founded by Mahesh Nandwani, Jolaks forms part of the wider Nandwani family business network, which includes Pee Cee & Sons and Pee Cee Holding Limited. Under his leadership, Jolaks has grown into a major processor linking agricultural production with industrial manufacturing and nationwide distribution.
The $20 million financing marks a significant milestone for Sierra Leone’s agro-processing sector, reinforcing Jolaks’ role in building a resilient domestic food supply chain while creating jobs and retaining greater economic value within the country.