The Empower Africa Business Platform is Now Live !!!
West Africa-focused fund manager Oasis Capital Ghana has secured $33.3 million in initial commitments for its new $100 million Oasis Africa Fund II (OAF II).
The fund aims to raise the remaining capital by June 2025.
OAF II builds on the success of Oasis Capital’s previous ventures.
The firm’s first fund, the $11 million Ebankese Venture Fund (EVF), supported SMEs in Ghana.
Their subsequent fund, Oasis Africa Fund I (OAF I), raised $50.5 million and invested across Ghana and Côte d’Ivoire.
Both EVF and OAF I have fully deployed their capital to 21 businesses in various sectors.
Legacy Girls College, Everpure Ghana Water, SINEL Specialist Hospital, and Metropolitan Health are among the Ghanaian businesses that have benefited from Oasis Capital’s investments.
In Côte d’Ivoire, MANSA Bank and PISAM Hospital have also received their support.
“Oasis Capital integrates environmental, social, and governance (ESG) considerations into our investment decisions,” stated Matthew Boadu Adjei, CEO of Oasis Capital Ghana.
OAF II aligns its investments with the United Nations’ Sustainable Development Goals (SDGs), including poverty reduction, improved health and well-being, quality education, gender equality, clean water and sanitation, and sustainable land use.
According to Michael Mensah-Baah, Development Bank Ghana’s deputy managing director, this focus on sustainability was a key factor for investors.
The investor base for OAF II includes prominent names like Development Bank Ghana, Venture Capital Trust Fund, GCB Capital, Stanbic Investment Management Services, and Oasis Capital Ghana itself.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Shyft Power Solutions, a Nigerian leader in digital energy solutions known for its community-metering innovations, has been acquired by UK-based energy revenue management company SteamaCo.
The International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), both part of the World Bank Group, have joined forces with Morocco’s Tanger Med Port Complex in a significant expansion project for its truck and passenger terminal.
European venture capital firm Breega, known for its early-stage investments, has announced the launch of its first Africa-dedicated fund, “Breega Africa Seed I.”