Every transformational business begins with an opportunity. Some are born out of market research, technological breakthroughs or changing consumer behaviour. Others begin with something far more human, a moment of empathy that compels someone to act. For Yemisi Iranloye, Founder and Chief Executive Officer of Psaltry International Company Limited, that defining moment came not in a boardroom or laboratory but on a cassava farm, where she encountered an elderly farmer overwhelmed with despair after his harvest was rejected and left to rot. While many would have moved on, Iranloye saw an opportunity to solve a problem that affected thousands of farmers across Nigeria.
That single encounter became the foundation of a business that has transformed agriculture, manufacturing and rural livelihoods. Today, Iranloye is celebrated as the Cassava Queen, having built one of Africa’s most successful indigenous agro processing companies. Under her leadership, Psaltry International produces food grade starch, glucose syrup, sorbitol and other industrial ingredients that were once largely imported into Nigeria. More significantly, the company established Africa’s first cassava based sorbitol refinery, positioning Nigeria as a producer of a high value industrial ingredient used in pharmaceuticals, food manufacturing, cosmetics and oral healthcare products.
Yet Iranloye believes her greatest achievement is not the refinery itself but the people whose lives have been transformed through it. More than 20,000 smallholder farmers, the majority of them women, now supply cassava to Psaltry through an integrated value chain that has created sustainable livelihoods across rural communities. What started as an effort to prevent one farmer’s harvest from going to waste has evolved into a thriving ecosystem of inclusive economic development, proving that business can become one of the most effective weapons against poverty.
YOU CAN ALSO READ: Tosin Akinwunmi Charts a New Course for ICAN Surulere & District Society
Iranloye’s path into manufacturing was anything but conventional. Trained as a biochemist, she quickly realised that Nigeria’s agricultural challenge was not low production but poor processing capacity. Although the country remains the world’s largest producer of cassava, much of the crop has historically generated limited economic value because it was sold in raw form or wasted after harvest due to inadequate processing facilities. She recognised that the real opportunity lay in converting cassava into industrial products that Nigerian manufacturers were importing in large quantities.
Rather than exporting raw agricultural commodities, Iranloye envisioned Nigeria producing high value industrial ingredients locally. It was an ambitious idea that required substantial investment, technical expertise and perseverance. More importantly, it demanded a willingness to challenge conventional thinking about where manufacturing should take place.
While many industrialists preferred to locate their factories in Lagos or other commercial centres, Iranloye deliberately built her processing plant in a rural community close to the farmers who produced the cassava. The decision reduced transportation costs, minimised post harvest losses and created a stronger connection between the factory and its raw material suppliers. More importantly, it demonstrated her belief that development should happen where wealth is created rather than concentrating opportunities in urban areas.
Building the factory was only part of the challenge. Building trust proved equally important. For years, many farmers had struggled with unreliable buyers, fluctuating prices and uncertain markets. Iranloye understood that long term partnerships required consistency, transparency and mutual respect. By guaranteeing markets for their produce and investing in their productivity, Psaltry gradually earned the confidence of thousands of farmers, creating relationships that continue to strengthen the company’s supply chain.
The impact has extended far beyond agriculture. Reliable incomes have enabled farming families to invest in education, healthcare and better living conditions, while local communities have benefited from increased economic activity and employment opportunities. Through value addition, cassava has become more than a food crop. It has become a catalyst for rural industrialisation.
Iranloye has consistently argued that manufacturing is one of the most powerful drivers of national development. Every tonne of cassava processed into starch, glucose or sorbitol represents imported products replaced by local production, foreign exchange conserved and new industrial capacity created. Her work demonstrates how agro processing can strengthen local industries while creating opportunities across the agricultural value chain.
This vision has become increasingly relevant as African countries seek to diversify their economies beyond the export of raw commodities. Industrial processing enables nations to retain more value within their economies, generate skilled employment and improve competitiveness. Psaltry’s success illustrates what is possible when innovation meets local resources and long term thinking.
Building such an enterprise, however, has required more than technical knowledge. Iranloye has often spoken about the importance of strong corporate governance, financial discipline and institutional credibility in attracting long term investment. She believes sustainable businesses are built on transparency, accountability and systems that inspire confidence among investors, employees and business partners alike.
Her leadership philosophy reflects those same values. Rather than viewing leadership as authority, she sees it as responsibility, creating opportunities for others, empowering communities and building organisations that can outlive their founders. That mindset has shaped Psaltry’s culture and enabled the company to continue expanding while maintaining close relationships with the farming communities that remain at the heart of its success.
Her contributions have earned national and international recognition, but Iranloye remains focused on solving practical challenges within agriculture and manufacturing. She believes innovation is not always about inventing something entirely new. It is often about applying knowledge to solve problems that others have overlooked.
YOU CAN ALSO READ: ‘The World Is Not De-Globalising’ – Okonjo-Iweala Urges Africa to Capitalise on Global Shifts
For aspiring entrepreneurs, her journey offers a powerful lesson. Successful businesses are built not simply by identifying profitable markets but by solving meaningful problems. Compassion, when combined with innovation, discipline and execution, can become a sustainable competitive advantage.
As Africa pursues industrialisation and economic diversification, Iranloye’s story offers a blueprint for what is possible. It shows that manufacturing can transform rural communities, strengthen local supply chains and reduce dependence on imports while creating shared prosperity.
What began with one farmer watching his cassava harvest rot has become one of Africa’s most inspiring manufacturing success stories. Yemisi Iranloye did not simply build a factory. She built an ecosystem that empowers thousands of farmers, advances local manufacturing and demonstrates that purpose driven entrepreneurship can transform industries, communities and nations.
