New Frontier Developments Limited (NFD) and Ducor, a Liberia-based company, have signed a Joint Venture Agreement to establish Billhook Foods Limited, a new agribusiness company focused on developing Liberia’s rice value chain. The agreement was signed during the African Natural Resources & Energy Investment Summit (AFNIS) 2026, marking the beginning of a long-term partnership to improve food security and support agricultural development in Liberia.
Scope of Operations
Billhook Foods Limited will operate across the entire rice value chain, covering rice importation, production, processing, and distribution. The business will commence with a US$10 million rice importation and distribution programme in Liberia, with plans to expand operations to US$50 million per quarter as the business grows. This phased approach allows the company to establish a foothold in the market before scaling up.
Economic Impact and Job Creation
Beyond supplying quality rice to the Liberian market, the partnership aims to invest in local production and processing, creating jobs, supporting farmers, and contributing to the country’s economic development. By involving local stakeholders, Billhook Foods intends to strengthen the agricultural ecosystem and reduce reliance on imported rice over time.
Speaking after the signing ceremony, representatives of both companies described the partnership as a significant milestone that reflects their shared commitment to building a sustainable agribusiness platform capable of delivering long-term value to Liberia and the wider West African region. They emphasized that the venture aligns with national goals for food self-sufficiency and economic diversification.
First Steps Toward Transformation
The incorporation of Billhook Foods Limited and the execution of the Joint Venture Agreement represent the first step in what both partners expect to become a transformative investment in Liberia’s agricultural sector. The companies plan to leverage their combined expertise in logistics, finance, and agronomy to ensure the success of the initiative.
This development comes as Liberia seeks to boost domestic rice production to meet growing demand and reduce import bills. According to industry data, Liberia imports a significant portion of its rice, making the country vulnerable to global price fluctuations. The new venture is expected to help stabilize supplies and improve market access for local farmers.
