Injaro Investment Advisors Limited has secured a $17.5 million fund denominated in Ghana Cedi to support small and medium-scale businesses in Ghana and Ivory Coast. The fund has received contributions from institutional investors including the Venture Capital Trust Fund, Minerals Income Investment Fund, and local pension fund Stanbic Investment Management Services, among others.
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To qualify for funding, SMEs must meet certain criteria, including operating for at least three years, generating a minimum of GHS 20 million in revenue, and having a net income (EBITDA) of at least GHS 3.5 million ($281,055). The fund will acquire either a major or minor stake in eligible businesses, with future exits contingent upon factors like cash flow, sponsor buy-outs, strategic mergers and acquisitions, or initial public offerings.
The IGVCF aims to empower profitable SMEs in Ghana’s burgeoning sectors, such as mining support services, agriculture, education, healthcare, financial services, industrial services, and light manufacturing, thereby fostering economic growth in the region while safeguarding the financial interests of pensioners.
Injaro’s investment initiatives extend to supporting promising ventures like Zeepay, where it injected its first $2 million during the Series A funding round.
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Source: Technext
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