British International Investment pours $20m into Valency International

It will fund the Singapore-based firm's expansion in Nigeria.

British International Investment (BII) has invested US$15m ($20m) into Singapore-based agricultural commodities trading house Valency International (Valency).

The investment will fund Valency’s expansion of cashew processing and warehousing facilities in Nigeria.

Valency expects to complete the expansion by early 2024.

The investment will also create up to 2,800 jobs among low-income communities in Nigeria.

In addition, BII also has the option to further invest $35m in equity into Valency within two years of completion of its initial investment.

The investment follows the elevation of bilateral relationships between Singapore and the UK.