Niger September 2024 – Fassoum peanut Oil, an emerging company focused on the local processing of peanuts into high-quality peanut oil and derivatives, is pleased to announce its acceptance into FasterCapital's LaunchUp program. The initiative, which aims to support early-stage startups, will provide Fassoum Peanut Oil with the necessary resources and mentorship to scale its operations and expand its market presence.
With an initial investment of $2,000, Fassoum Peanut Oil is now actively raising an additional $800,000. This funding will enable the company to enhance its production capabilities, implement modern processing methods, and ensure rigorous quality control, all while contributing to the local economy and promoting sustainable practices in the peanut processing industry.
Bashar Hamood, Managing Partner at FasterCapital, shared his thoughts on the partnership: “Fassoum Peanut Oil is tapping into a highly promising market by transforming the under-utilized peanut resources in Niger into valuable products. Their commitment to quality and sustainability, combined with their innovative processing techniques, positions them as a key player in the region’s agricultural sector. We are excited to support their growth and help them reach their full potential.”
Moussa IBO Mahaman, Co-Founder of Fassoum Peanut Oil, commented on joining the program: “Becoming part of the FasterCapital LaunchUp program is a crucial step for Fassoum Peanut Oil. With the guidance and support from FasterCapital, we are confident that we can bring our vision to life—transforming Niger’s abundant peanut resources into premium products for both local and international markets. Our goal is to not only meet the growing demand for peanut oil but also to contribute to sustainable development in our region by utilizing alternative energies and innovative processing methods.”
Fassoum Peanut Oil is strategically located in Zinder, Niger, a region rich in peanut cultivation. The company aims to become a leading player in the peanut processing market, with plans to expand its product offerings and explore new markets in the medium term. By focusing on quality, authenticity, and sustainability, Fassoum Peanut Oil is set to make a significant impact on the agricultural and food industries in Niger and beyond.
FasterCapital is a virtual incubator based in United Arab Emirates, offering support to startups and small businesses worldwide through its acceleration, incubation, and co-funding programs. With a focus on technology-driven and innovative businesses, FasterCapital provides entrepreneurs with the resources, mentorship, and financial support needed to succeed in competitive markets.