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.
Billhook Foods Limited will operate across the 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.
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.
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.
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.