Farouk Gumel, the Group Executive Director and Vice Chairman for Africa at Tropical General Investment (TGI) Group, plays a pivotal role in driving the company’s vast operations across Africa, the Middle East, and Asia. With TGI Group’s involvement in multiple sectors—ranging from food and agribusiness to financial services and pharmaceuticals—Gumel’s leadership has been instrumental in positioning the conglomerate as a significant player in Africa’s agricultural and economic landscape. Before joining TGI Group, Gumel had a long career with PricewaterhouseCoopers (PwC), where he led advisory services for West Africa, covering several countries, including Nigeria, Ghana, Liberia, and Sierra Leone. His diverse experience in transaction services and corporate restructuring has been crucial in shaping his strategic approach to TGI’s growth initiatives.
One of Gumel’s major roles includes chairing some of TGI’s leading subsidiaries, such as WACOT Rice, a key player in Nigeria’s rice value chain, and Union Bank, one of the country’s oldest financial institutions. His expertise extends beyond TGI Group, with key appointments such as the Chairman of the Nigeria Sovereign Investment Authority and board positions on prominent organizations like the Corporate Council on Africa and the Africa Business Coalition on Health.
Under Gumel’s stewardship, TGI Foods, a subsidiary of TGI Group, launched a ₦25 billion commercial paper issuance aimed at bolstering the company’s operations in Nigeria’s agricultural sector. This strategic move supports the expansion of two critical food production arms—West African Soy Industries Limited (WASIL) and WACOT Rice Limited. With TGI Group’s annual revenue exceeding ₦2.25 trillion from West African operations alone, the company is making significant strides in Nigeria’s food manufacturing and processing sectors.
Beyond his corporate responsibilities, Gumel has consistently advocated for Nigeria’s food security and self-sufficiency in staple foods. His leadership at TGI is marked by a commitment to creating jobs in the agriculture and food value chains, which has a transformative impact on rural communities and stimulates economic growth. He has also championed strategic alliances to further Nigeria’s food security ambitions. In addition to his corporate pursuits, Gumel has been active in the broader dialogue around economic development in Africa. Speaking at the African Growth and Opportunity Act (AGOA) Forum in Washington, DC, he emphasized the importance of inclusive growth and the need for AGOA to evolve to better support job creation and social impact in African economies.
Gumel’s commitment to inclusive development is also reflected in TGI Group’s recent partnership with the UN Refugee Agency (UNHCR) to promote the socio-economic integration of displaced persons and refugees in Nigeria. This initiative, aimed at harnessing Nigeria’s agricultural potential, seeks to create livelihood opportunities for thousands of internally displaced persons, refugees, and host communities, leveraging TGI’s existing out-grower programs as a model for sustainable development.
