Oasis Africa Fund

  • Active: Active
  • Region: Africa
  • Country: Regional
  • Sector: Investment funds
  • Year: 2017
  • Domicile: Ghana
  • Instrument: Fund
  • Commitment (MNOK) as of 31.12.2018: 42.1
  • Original Commitment (MNOK): 42.1

African Venture capital fund helps businesses grow in West Africa

Oasis Africa Fund is an investment fund targeting small and medium sized enterprises in Ghana and Côte d'Ivoire. With equity investments, expertise and support, the Oasis Fund is helping small and medium sized companies to become viable, to grow and to generate jobs.

West  Africa  became  a  new  priority  region  for  Norfund  in  2016.  In most West African  countries,  long-term  financing  of  equity  capital  is  virtually non-existent in the SME  sector.  

Typically,  SMEs  lack  collateral,  have  limited  cash  flows,  and  face  difficulties when proving their creditworthiness. Many face serious constraints in accessing debt financing from banks or other financial institutions. SMEs are a cornerstone  of  job  creation  and  improving  access  to  capital  for SMEs in this region  is  therefore  in  keeping  with  Norfund’s  strategy. 

Oasis  Africa  Fund  is  one  of  Norfund’s  first  investments  in  West  Africa.  This  is  a  good  investment  that  will  promote  access  to  capital  and  competence  to  rapidly  growing  businesses  in  West  Africa,͟ says  Norfund’s  CEO,  Kjell  Roland.    

Oasis  Africa  Fund  invests  in  five  key  sectors:  private  education,  financial services, healthcare, food  services,  and  housing  and  hospitality.  One  of  the Fund’s recent investment is Everpure  Ghana  Limited,  a  company  that produces high quality purified drinking water for Ghana and the West African region.  

Investing in a water bottling company in Ghana

Established  in  2008,  Everpure  has  grown  significantly  year-on-year  and  is now one of the leading water  bottling  companies  in  Ghana.  The  company produces,  distributes  and  markets  purified  drinking  water.  

The  Oasis  Africa Fund’s  recent  investment  will  support  Everpure’s construction  of  a  third factory.  It will also help the company acquire additional equipment and meet  its  need  for  working  capital.  

Since  2008, the number  of  employees has  increased  from  7  to  450  persons. In  the  coming years,  Everpure  plans to  generate  more  than  1,000  direct and indirect  jobs through  the  creation of  formal  water  vendors  and distributors.  

This  transaction  underscores  our  strategy  of  investing  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  population,  since  more  than  70%  of  the  company’s  product  is  targeted  at  lower-income  earners,͟ says  Investment  Manager  of  Oasis  Capital,  Mr  Richard  Kwame  Siaw.

Indirect investments

Investee Sector Country
Everpure Holdings Limited Food and agribusiness Ghana
Legacy Girls School Education Ghana

Norfund - The Norwegian Investment Fund for Developing Countries

Fridtjof Nansens Plass 4
N-0160 Oslo

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