In the quiet rural expanse of Alayide Village in Ado-Awaye, Oyo State, Nigeria, a revolution in agriculture began with a woman’s profound empathy and unwavering determination. Oluyemisi Iranloye, the Founder and CEO of Psaltry International Company Limited, turned the pain of smallholder farmers into a thriving enterprise that has become a beacon of rural transformation, female empowerment, and agricultural innovation.
Oluyemisi Iranloye’s journey into agribusiness was seeded during her tenure as Chief Operating Officer at EKHA AGRO, where she witnessed the harsh realities faced by cassava farmers. These smallholder farmers often journeyed miles on rugged roads with their harvests, only to face the heartbreak of rejection or reduced payments when their perishable cassava spoiled en route. Many returned home empty-handed, burdened by the failure to provide for their families.
It was during one such encounter, seeing the despair etched on the faces of these farmers, that Yemisi made a vow: if she ever started her own factory, it would be built close to the farmers, placing them at the heart of the business model. This promise was the foundation of Psaltry International, established in 2005 with a vision to create an inclusive agribusiness that would empower smallholder farmers, especially women, and ensure sustainable development in rural Nigeria.
Psaltry International took root in Alayide Village, a community where subsistence farming was a way of life, and poverty was endemic. The choice of location was symbolic; it was here that Yemisi had met a farmer whose cassava was rejected after a long, arduous journey. By establishing the factory in proximity to the farming communities, Psaltry eliminated the logistical nightmares that once plagued the farmers, ensuring their produce was processed fresh and promptly.
The early days of Psaltry were marked by an intensive focus on equipping farmers with tools for success. Good Agronomy Practices (GAP) training, access to improved cassava varieties, tractor services, and financial support were provided. These initiatives immediately bore fruit, as farmers began reaping bountiful harvests compared to their previous struggles. By 2012, the first outgrower scheme was launched with just 17 farmers—14 men and 3 women. This initiative has since grown exponentially, encompassing over 10,000 smallholder farmers, with women now constituting 40% of this network.
Yemisi’s vision extended beyond economic upliftment to gender equity. Understanding the pivotal role women play in agriculture and rural economies, she championed policies and programs that empowered female farmers. Psaltry’s inclusive practices ensured that women had equal opportunities to participate, thrive, and lead within the industry. Yemisi actively advocated for women’s leadership roles in agriculture, creating pathways for them to rise as decision-makers and innovators.
The impact of this approach is evident in the transformed lives of women farmers who now earn stable incomes, support their families, and contribute to their communities. This commitment to gender equity extends to the next generation through the Psaltry Foundation, which focuses on advancing girls’ education and providing educational support to the children of smallholder farmers.
Under Yemisi’s leadership, Psaltry has achieved remarkable milestones, cementing its reputation as a leader in agricultural innovation. In 2022, the company commissioned Africa’s first cassava-based sorbitol factory, an achievement that marked Nigeria’s entry into a highly specialized global market. Sorbitol, a sweetener used in various industries, had previously been imported, draining Nigeria’s foreign exchange reserves. Psaltry’s sorbitol production not only reduces import dependence but also positions Nigeria as a global player in cassava value addition.
Beyond sorbitol, Psaltry produces food-grade cassava starch, flour, and glucose, serving both local and international markets. The proximity of the factory to the farms ensures the freshness of cassava, leading to high-quality products that meet stringent global standards. This value addition has strengthened Nigeria’s agricultural exports while boosting rural incomes and creating jobs.
Psaltry’s impact on Alayide Village and its surrounding communities is profound. The region, once synonymous with poverty, has transformed into a thriving cassava belt. The factory has created over 1,000 direct and indirect jobs and supports over 100,000 farm families within a 200 km radius. Farmers who once earned less than a dollar a day now participate in a commercial agricultural ecosystem, with many achieving financial independence and improved living standards.
The story of Psaltry’s transformation is not just about economic growth but also about social upliftment. Improved infrastructure, better access to education, and enhanced community health are some of the ripple effects of the company’s operations. The once-overlooked rural communities now stand as a testament to the power of inclusive development.
Yemisi’s influence extends far beyond the boundaries of her company. She has been a vocal advocate for sustainable agriculture and cassava development at national and international levels. From 2005 to 2007, she served on the Nigerian Presidential Committee on Cassava Development and Utility, contributing to policies that shaped the cassava industry. Her expertise was also instrumental in the UNIDO/Ministry of Commerce Committee and the FAO expert consultations on cassava processing and marketing.
Her role as a steering committee member for the USAID/IITA project “Unleashing the Power of Cassava in Africa (UPOCA)” in 2009 further underscores her commitment to harnessing cassava’s potential for economic and food security across Africa. Recognized for her contributions, Yemisi was honored in 2014 by Dr. Akinwumi Adesina, then Nigeria’s Minister of Agriculture, for her role in advancing the Agricultural Transformation Agenda (ATA).
Yemisi’s academic achievements and professional development have played a critical role in her success. She holds a B.Tech in Biochemistry from the Federal University of Technology, Minna, and an M.Sc. from the University of Ibadan. As an alumna of the Stanford Seed Transformation Programme and a participant in various local and international management training programs, she has honed the leadership and strategic skills that drive Psaltry’s growth.
Her expertise has earned her positions on prestigious boards, including Hillside University of Science and Technology, the Oyo State College of Agriculture, and the International Institute of Tropical Agriculture (IITA) Business Incubation Platform. As the president of the Large-Scale Starch and Derivates Producers Association (LSSDPA), she continues to advocate for the advancement of Nigeria’s agricultural sector.
Yemisi’s reputation as a thought leader in agribusiness has made her a sought-after speaker at international conferences. In 2023, she delivered a keynote address at the FAO-IAFN Private Sector High-Level Dinner in Rome, captivating an audience of delegates from 30 countries. Her insights into sustainable agriculture and inclusive development resonate with global audiences, highlighting Nigeria’s potential as an agricultural powerhouse.
Her achievements have not gone unnoticed. Yemisi was named Nigeria’s foremost female entrepreneur by former U.S. Secretary of State Hillary Clinton and received the Women Agripreneurs of the Year Award (WAYA) in 2022 for her exceptional contributions to agribusiness.
At its core, the story of Psaltry International is one of empathy turned into action. It began with Yemisi’s resolve to address the challenges faced by smallholder farmers and has evolved into a model for rural development, job creation, and economic empowerment. By prioritizing the needs of farmers, especially women, Psaltry has redefined what it means to build a sustainable and inclusive business.
The ripple effects of Psaltry’s success extend beyond Nigeria’s borders, influencing cassava value chain practices in other countries and contributing to global food security. The company’s commitment to reducing reliance on imports and boosting local production underscores its role in driving Nigeria’s economic transformation.
As Yemisi looks to the future, her vision remains steadfast: to continue empowering rural communities, advancing gender equity, and fostering innovation in agriculture. Through Psaltry International, she has proven that sustainable growth is not just a dream but a reality that can thrive in the heart of Africa.
Oluyemisi Iranloye’s story is a testament to the transformative power of visionary leadership and the impact of placing empathy at the center of enterprise. Her journey, and that of Psaltry International, serves as an inspiration to all who seek to make a difference in the world.
