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Injaro Secures $17.5 Million Fund to Support Ghanaian and Ivorian Businesses

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Injaro Secures $17.5 Million Fund to Support Ghanaian and Ivorian Businesses

The IGVCF aims to empower profitable SMEs in Ghana’s high-growth sectors. Industries targeted include mining support services, food and agriculture, education, healthcare, financial services, industrial services, and light manufacturing.

Injaro, founded in 2009 by Jerry Parkes and Dadie Tayoraud, aimed to provide the necessary capital to enable Ghanaian SMEs to scale their offerings and drive economic growth on the continent.

After 14 years of operation, the investment firm manages $65 million across several funds, including Injaro Agricultural Capital Holdings and Agri-Business Capital Fund.

Injaro explained that IGVCF will provide the necessary resources to create job opportunities for thousands in Africa, adding to the 3 million people who have already benefited from the fund.

The company plans to stimulate Ghana’s economy and businesses while protecting the financial health of the pensioners who own the money it invests.

The investment company intends to deploy the fund using a combination of debt, equity, and quasi-equity instruments to ensure financial returns and quality investee growth.

To qualify, a company must have been operating for three years, generated at least GHS 20 million in revenue, and had a net income (EBITDA) of at least GHS 3.5 million ($281,055).

Depending on the investees’ business model, IGVCF will assume a majority or minority stake in the business. Exits in the future will be subject to cash flow, sponsor buy-outs, strategic Mergers and Acquisitions or Initial Public Offerings.

IGVCF, which has invested its first $2 million in Zeepay’s Series A round, promised to promote environmental, social, and governance practices among its portfolio companies to help Africa’s economy grow sustainably.

See also  Vietnam receives the largest-ever $51.5 million in carbon credits from the World Bank.

 

 

 

Source: Techpoint.africa

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