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Nigeria: Food Concepts to seek debt finance for international expansion

By David Whitehouse
Posted on Tuesday, 5 October 2021 16:30

Nigeria's Food Concepts plans long-term expansion beyond West Africa. Photo supplied.

Nigerian fast-food provider Food Concepts plans to raise debt finance in the next six to 12 months for international expansion, managing director David Butler tells The Africa Report.

The company, which is currently debt-free, has reached an “agreement of understanding” with a bank [that] will manage the fundraising, Butler says in Lagos. Food Concepts has also carried out projections on how the cash would be used. “A lot of people are sitting on cash. It’s about finding the right partner.”