Sahel Capital backs Cameroon’s Nulla Group with US$1.5M loan to strengthen maize value chain
Nulla Group works with a vast network of smallholder farmers, providing them with access to fair markets.
CAMEROON – Nigeria-based fund manager Sahel Capital has provided a US$1.5 million loan to Nulla Group, a women-led agribusiness in Cameroon specializing in maize aggregation and processing.
The financing, announced through the firm’s Social Enterprise Fund for Agriculture in Africa (SEFAA), aims to strengthen the country’s agricultural value chains and improve smallholder farmer participation in the maize sector.
Based in Cameroon’s West Region, Nulla Group works with a network of 1,700 smallholder farmers, supplying them with fair market access and technical support.
The company has distinguished itself by applying advanced agricultural technologies and logistics solutions to reduce post-harvest losses while increasing yields. Its model places particular emphasis on rural women, offering training and tools to enhance productivity and income.
“This investment will enable us to further supply our network of 1,700 smallholder farmers and remain a reliable partner in Cameroon’s evolving maize ecosystem,” said Liza Kina Idum, founder and CEO of Nulla Group.
SEFAA was launched four years ago with an initial capital of $26 million and now operates across a dozen sub-Saharan African countries.
The fund supports agribusiness SMEs through debt, equity, and quasi-equity financing. In 2024 alone, Sahel Capital invested US$6.5 million across seven companies, underscoring its commitment to agricultural transformation in the region.
The investment in Nulla Group comes at a critical time for Cameroon, where the agricultural sector continues to face a large financing gap.
According to the Bank of Central African States (BEAC), MSMEs in Cameroon face a shortfall of nearly US$8.7 billion due to weak banking support and limited access to credit. This has restricted growth opportunities for many small-scale producers despite agriculture’s central role in the economy.
The sector remains a pillar of national development, contributing 17.4% of GDP in 2024 and employing over 40% of the workforce, according to the World Bank. Yet, underfunding continues to constrain productivity, rural development, and food security.
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