Oasis Capital Ghana, managers for Ebankese Venture Fund (EVF) and Oasis Africa VC Fund (OAF), are pleased to announce their investment in Everpure Holdings Ltd (Everpure), a water bottling company operating in Ghana. The investment was made out of OAF, an SME-focused fund targeting scalable businesses providing essential services in Ghana and Cote D’Ivoire.
Established in 2008, Everpure has grown significantly year-on-year to become one of the leading water bottling companies in Ghana. The Company produces, distributes and markets purified drinking water and has a vision to become the largest purified water producer in Ghana. Everpure currently operates two factories strategically located in Tema (east of Accra) and Kumasi (second city) and seeks to establish a third factory in west of Accra. With this investment, the fund will support the company to complete the construction of this third plant, acquire additional equipment and support working capital needs.
Commenting on this transaction, Mr. Matthew Boadu Adjei, CEO of Oasis Capital, said, “We are excited to invest in a growing company backed by a strong management team. By combining the fund’s patient capital and value adding services, we see significant growth opportunities that will solidify Everpure’s market position, moving forward”.
An Investment Manager of Oasis Capital, Mr Richard Kwame Siaw, also had this to say: “This transaction underscores our strategy to invest in businesses on the cusp of significant growth and operating in essential service sectors. Our expectation is that this transaction will improve the supply of clean drinking water to the populace, since more than 70% of the Company’s product is targeted at lower-income earners. The project will also generate more than 1,000 direct and indirect jobs through the creation of formal water vendors and distributors”
Mr. Peter Narh, the CEO of Everpure Holdings, added that “the capital infusion and business development support from Oasis will enable us capitalize on our growth opportunities to become the market leader within the next three years.”
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About Oasis Capital Ghana
Oasis Capital Ghana Limited was established in February 2009 as a growth and venture capital fund manager and currently has offices in Ghana and Côte d’Ivoire. We seek to provide risk capital in the form of equity, quasi-equity and profit sharing facilities to entrepreneurial businesses in Africa.
For more information, please contact:
Joseph Boakye Yiadom (Tel: +233 302522624 Email: jyiadom@oasiscapitalghana.com)
Richard Kwame Siaw (Tel: +233 302522624 Email; rsiaw@oasiscapitalghana.com)
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