Elephant Group
Elephant Group PLC is a Nigerian vertically integrated agribusiness (founded 1994) that imports, processes, distributes, and exports rice, fertilizers, cassava, cocoa, cashew, and other commodities across Nigeria, West Africa, and Asian markets, serving governments, industrial buyers, and consumers via brands like Elephant Gold and Elephant Pride.
- Company typePrivate
- Founded1994
- HeadquartersIkeja, Nigeria
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Elephant Group does
Elephant Group PLC is a Nigerian vertically integrated agribusiness founded in 1994, headquartered in Ikeja, Lagos. The company operates across the full agricultural value chain — importing, processing, distributing, and exporting agro-commodities including rice, fertilizers, cassava, cocoa, cashew, sesame, maize, soya beans, and crude palm oil. Its core processing infrastructure comprises rice milling (notably the Elele Alimini mill in Rivers State at 120–210 metric tonnes/day via NDDC concession), four High Quality Cassava Flour (HQCF) factories producing 107 metric tonnes/day and 32,100 metric tonnes annually, and fertilizer blending operations under subsidiary Agrocrop Fertilizers & Chemicals Ltd. Branded consumer products include Elephant Gold and Elephant Pride rice and Elephant NPK fertilizer lines; processed foods are produced through subsidiary Dependable Foods & Confectioneries Limited.
The business operates a hybrid B2B and B2C model. B2B revenue is anchored by government procurement (federal Growth Enhancement Support fertilizer program, plus state-level partnerships in Edo, Niger, Bayelsa, and Lagos), industrial buyers (bakers, confectioneries, flour mills requiring HQCF), and wholesale distribution through company-owned warehouses across Lagos, Kano, Sokoto, Akure, and Funtua. B2C revenue comes from branded rice and fertilizer sales, including an emerging direct-to-consumer channel via Jumia within Lagos State. The Outgrower Scheme anchors upstream supply by contracting 1.2 million rice farmers and 500,000+ youth farmers with guaranteed offtake, training, and inputs. Distribution covers all 36 Nigerian states and selected West African countries; exports flow to the UK, India, China, and Vietnam for cocoa, cashew, and sesame. Ownership is 74% Nigerian (founders Tunji Owoeye and Akin Ogunbiyi) and 21% AfricInvest following a 2015 minority equity investment — the first private equity deal in Nigeria's agricultural commodities sector.
The company ranks #4 in Nigerian rice marketing (8% market share) and #4 in fertilizer marketing (10% market share). Reported total fertilizer volume is approximately 1 million tons annually. Strategic priorities are import substitution through backward integration, regional West African expansion, and processing capacity buildout — funded in part by the 2015 AfricInvest investment and a planned ~$200M fertilizer blending plant with Ukrainian technical partners announced in 2014.
Elephant Group firmographics
Firmographics- Name
- Elephant Group
- Legal name
- Elephant Group PLC
- Website
- https://elephantgrp.com
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Elephant Group PLC is a Nigerian vertically integrated agribusiness (founded 1994) that imports, processes, distributes, and exports rice, fertilizers, cassava, cocoa, cashew, and other commodities across Nigeria, West Africa, and Asian markets, serving governments, industrial buyers, and consumers via brands like Elephant Gold and Elephant Pride.
- Ownership category
- akta.pro rank
Elephant Group industry classification
Industry- Product category
- Agricultural Commodities Processing and Distribution
- NAICS
- Food Manufacturing (311), Grain and Field Bean Merchant Wholesalers (424510), Grain and Oilseed Milling (3112), Oilseed and Grain Farming (1111)
- SIC
- Food And Kindred Products (2000), Agricultural Production-Crops (100)
- akta.pro primary industry
- Grain & Oilseed Trading/Wholesale (AFAIAKAA)
- akta.pro secondary industries
- Nuts, Seeds & Dried Fruit Trading/Wholesale (AFAIAKAF), Food Ingredients & Commodities Wholesale (Sugar, Flour, Oils, Spices) (AFAIABAK), Starches, Flours & Milling Products Trading/Wholesale (AFAIAKAH)
Keywords
Where Elephant Group is headquartered
LocationHeadquarters
- HQ city
- Ikeja
- HQ country
- Nigeria
- HQ region
- Africa
Offices12 records
Markets served
Elephant Group business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales
Revenue model
- Agricultural Commodities Trading: Import and export of agricultural commodities including rice, fertilizer, cocoa, cashew, maize, sesame, and soya beans. The company trades across Nigeria and West African markets.
- Food Processing: Processing of locally sourced agricultural products including rice milling, cassava processing into flour, and fertilizer blending for domestic consumption.
- Agro Products Distribution: Distribution network covering 36 states of Nigeria and selected African countries for fertilizers and food products.
- Fertilizer Sales: Import, blending, and distribution of fertilizers to state/federal governments, parastatals, industrial organisations, Agro Dealers, and farmers. Total sales approximately 1 million tons annually.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Rice products sold at market prices |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Elephant Group product offering
Product offeringCore offering
Elephant Group PLC imports, processes, and distributes a diversified portfolio of agro-commodities across Nigeria and selected West African countries. Its core offerings include branded rice (Elephant Gold and Elephant Pride), blended fertilizers (NPK 15-15-15, NPK 20-10-10, custom blends), High Quality Cassava Flour, and export commodities including cocoa, cashew nuts, sesame seed, maize, soya beans, ginger, and crude palm oil. The company operates rice mills, cassava processing plants, and fertilizer blending facilities, and sells to government ministries, agro dealers, industrial users, and end consumers.
Product overview
Elephant Group PLC is a diversified Nigerian agro-commodities company operating across the entire agricultural value chain, from production and sourcing to primary processing, exporting, shipping and logistics, importing, distribution, and marketing. The company offers a broad portfolio of branded agricultural products including rice brands (Elephant Gold and Elephant Pride), fertilizers (Elephant NPK 15-15-15 and NPK 20-10-10), and commodity exports (cocoa, cashew nuts, sesame seed, cassava, maize, soya beans, ginger, and crude palm oil). Through its subsidiaries—Agrocrop Fertilizers & Chemicals Ltd for fertilizer production and Dependable Foods & Confectioneries Limited for processed foods—the company serves Nigeria's 36 states plus West African countries. The business model emphasizes backward integration, operating rice processing mills (including the Elele Alimini facility at 120 metric tons per day), cassava processing plants (107 metric tons per day combined output), and farmer engagement programs through out-grower schemes targeting rice and cassava production across multiple states.
Differentiator
Problem solved
Functional benefit
Brands
- Elephant Pride: Local rice brand produced by Elephant Group
- Elephant Gold
- Elephant NPK 15-15-15
- Elephant NPK 20-10-10
- African Lady
Products and services
- Elephant Gold Rice
Quantifiable outcome
- 1.2 million outgrowers engaged in rice production network
- +3 more outcomes
Companies that use Elephant Group
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles5 records
Elephant Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Elephant Group partnerships and signals
Strategic signalScale indicators13 records
Recent moves8 records
Expansion highlights6 records
Elephant Group competitors and assessment
Company assessmentBroad incumbents
- Dangote Group: Nigeria's largest conglomerate with extensive investments in agriculture (sugar refining via Dangote Sugar, rice farming via Dangote Rice, and fertilizer via Dangote Fertilizer). Direct overlap with Elephant Group in rice and fertilizer, with deeper backward integration and capital base.
- Wilmar International: Global agribusiness major in edible oils, oilseed crushing, rice, and flour milling across Africa and Asia. Comparable to Elephant Group on oilseed/palm oil sourcing and the integrated farm-to-processing model though at substantially larger scale.
- BUA Group: Large Nigerian conglomerate with major agribusiness and food-processing operations (BUA Foods, BUA Cement) including sugar, flour, edible oils, and pasta. Comparable as a diversified Nigerian agribusiness with backward integration and government-linked offtake.
- Bunge Limited: Global agribusiness and food ingredients company with grain origination, oilseed processing, and trading activities in West Africa. Comparable to Elephant Group on grain/oilseed trading and processing, and on farmer outgrower/aggregation models.
- Cargill: One of the world's largest agricultural commodity traders and processors, with cocoa and grain operations active across West Africa. Comparable to Elephant Group in trading, processing, and farmer-sourcing models though at vastly greater scale and broader geographic reach.
Regional players
- Honeywell Flour Mills: Nigerian flour and food products manufacturer (Honeywell Super Fine, pasta, noodles) competing in branded wheat and cassava-flour-based products. Comparable to Elephant Group's Dependable Foods subsidiary on branded processed-foods distribution in Nigeria.
Others
- AGROCorp: Singapore-headquartered agricultural commodity trader with origination across West Africa in cocoa, cashew, sesame, and pulses. Comparable to Elephant Group's cocoa/cashew/sesame export operations and to its trading-led entry model.
Direct peers
- Olam International (Olam Agri): Global agricultural commodities trader and processor with deep operations in Nigeria and West Africa across cocoa, cashew, sesame, rice, and other staples. Most directly comparable to Elephant Group in product mix, origin-to-destination trading model, and Nigerian footprint.
- Flour Mills of Nigeria (FMN): Nigeria's largest flour and food milling company operating across grains, edible oils, and processed foods with nationwide distribution. Highly comparable to Elephant Group on Nigerian food processing, multi-commodity branded portfolio (Golden Penny, etc.), and B2B + B2C distribution model.
- WACOT Limited (Wacot Rice): Nigerian rice and commodity processor with rice mills, sesame processing, and outgrower programs. Direct competitor to Elephant Group's rice milling (Elele Alimini) and HQCF operations, and shares the contract-farming supply model.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Elephant Group social profiles
Digital presenceElephant Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Elephant Group leadership team
Management profileNumber of profiles
Profiles11 records
Elephant Group subsidiaries and ownership
Company hierarchySubsidiaries2 records
Elephant Group funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Elephant Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Elephant Group
What does Elephant Group do?
Elephant Group PLC imports, processes, and distributes a diversified portfolio of agro-commodities across Nigeria and selected West African countries. Its core offerings include branded rice (Elephant Gold and Elephant Pride), blended fertilizers (NPK 15-15-15, NPK 20-10-10, custom blends), High Quality Cassava Flour, and export commodities including cocoa, cashew nuts, sesame seed, maize, soya beans, ginger, and crude palm oil. The company operates rice mills, cassava processing plants, and fertilizer blending facilities, and sells to government ministries, agro dealers, industrial users, and end consumers.
Is Elephant Group a public or private company?
Elephant Group is a private company. It is classified as venture growth investor backed and is currently operating.
When was Elephant Group founded?
Elephant Group was founded in 1994. It employs 1 to 10 people.
Where is Elephant Group based?
Elephant Group is headquartered in Ikeja, Nigeria, in the Africa region.
How does Elephant Group make money?
Four revenue lines are on record. Agricultural Commodities Trading is the primary driver. The others are food Processing, agro Products Distribution and fertilizer Sales.
Who are Elephant Group's main competitors?
Broad incumbents on record are Dangote Group, Wilmar International, BUA Group, Bunge Limited and Cargill. Honeywell Flour Mills is listed as a regional player. AGROCorp is listed as an others. Direct peers are Olam International (Olam Agri), Flour Mills of Nigeria (FMN) and WACOT Limited (Wacot Rice).
Does Elephant Group have an API?
No public API is recorded for Elephant Group.
What industry is Elephant Group in?
Elephant Group's product category is Agricultural Commodities Processing and Distribution. Its primary akta.pro industry code is AFAIAKAA, Grain & Oilseed Trading/Wholesale, with a secondary code of AFAIAKAF, Nuts, Seeds & Dried Fruit Trading/Wholesale. Its NAICS code is 311 and its SIC code is 2000.