News in brief:
– Oyo State Governor Seyi Makinde visited Psaltry International Company Limited to assess its operations and explore potential government support.
– During the visit, the company highlighted its sustainable initiatives and expressed gratitude for the governor’s interest in supporting local businesses.
The governor of Oyo State, Seyi Makinde, visited Psaltry International Company Limited as part of his administration’s welfare check. In his post about the visit, he mentioned that it had been a surprise for the management.
The goal was to find out how the company’s business was faring and in what ways the state government could support its continuous growth.
Oluyemisi Iranloye, the founder and CEO of Psaltry, expressed her appreciation for the governor’s visit. She revealed that he got a tour of the several sustainable projects that the company was involved in such as its biogas and solar energy initiatives.
Founded in 2005, the company’s primary business is processing cassava and it sells cassava flour and starch which are used as raw materials in the production of seasonings, puddings, confectioneries, food, and beverages. It also makes animal feed from cassava peels, garri from yellow cassava, and laundry starch from cassava starch.
The company operates the first sorbitol factory in Nigeria and Africa, a by-product of cassava that is useful in the medical industry as a diuretic as well as laxatives and surgical irrigating.
Its out-grower and in-grower scheme has over 3,500 farmers and 500 young agripreneurs, ensuring that producers in Oyo State continue to have a ready market.
Iranloye reiterated her company’s commitment to community development, sustainability and innovation.
Recall that Makinde had reached some investment deals with businesses and organisations in Sweden earlier in October to strengthen the state’s agricultural sector. The government has also embarked on several input and loan distribution initiatives to boost food security and empower farmers.
