Accra, Nov.30, GNA – Wangara Green Ventures, an impact investment fund in Ghana, has announced a GHC 1.4 million (approx. US$228,000) investment in The Good Roll Factory Ghana Limited, a climate-smart and sustainable toilet paper manufacturing company.
This is to boost the production of 100 per cent sustainable and tree-friendly toilet paper by the Company.
The investment deal facilitated by Innohub, a business accelerator, among others, was to support The Good Roll manufacture high quality and environmentally friendly toilet paper for use domestically in Ghana and abroad through exports, a statement issued jointly by the three bodies to the Ghana News Agency on Tuesday, said.
The Good Roll Factory Ghana Limited is owned by The Good Roll Africa, a joint venture between The Good Roll Europe based in Netherlands and Ghanaian investors.
The Good Roll is a toilet roll manufacturing company that uses bamboo as its primary raw material.
Bamboo is considered more sustainable since as a type of grass, it grows back faster (less than two years) after harvesting contrary to a tree which takes decades to replenish.
The Good Roll Europe also committed 50% of its net profits to building and providing access to safe and clean toilets in various countries across Africa, the statement said.
“Employing sustainable methods of production, from the farming and acquisition of raw materials to the production of the finished goods, The Good Roll Factory Ghana Limited in many ways helps reduce carbon dioxide emissions in the environment, prevent erosion/ land degradation and the pollution of the environment,” it said.
“Following a well-developed plan of engaging bamboo farmers (out growers) and working with relevant organisations, The Good Roll is geared towards creating employment across various sectors of the Ghanaian economy and improving the standards of living of persons not just in Ghana but across Africa, while simultaneously contributing positively to the mitigation of the Climate Change Effect.”
As the first of its kind in the West African Region, it said, The Good Roll, with Wangara’s investment as well as Technical Assistance, would be positioned to contribute immensely to the realisation of the UN SDGs.
Wangara Green Ventures is a climate-focused impact investment company that invests between GHS 250,000 to GHS 2,500,000 in Small and Growing Ghanaian Businesses (SGBs) that are making a social and environmental impact in Ghana.
Wangara also supports the growth and sustainability of these SGBs by making available pre-investment and post-investment Technical Assistance Grants. Wangara was set up under the Ghana Climate Venture Facility with funding from the World Bank.
Innohub is also a management consulting, and Impact Investment platform, which supports Small and Growing Businesses to become sustainable, scalable and investment ready.
“As a deal sourcing partner to local and international investors, Innohub refers such investment-ready opportunities to such funding sources for investment considerations and supports the two parties to ensure a smooth deal negotiation process,” the statement said.
GNA