Popular snack manufacturing company, Aruwa Capital Management, said it has injected $2m into Fastizers, a female indigenous local manufacturer of snack foods and confectioneries in Nigeria.
Founded in 2010, Fastizers which emerged from the personal kitchen of Debbie Lawson as a passion project, had evolved into a household name and a rapidly growing snack food manufacturing company.
The Founder and Managing Partner of Aruwa Capital Management, Adesuwa Okunbo-Rhodes, said it was excited in the vision of the organisation and its potentials of “becoming leading players in the Nigeria snack foods industry.
“This partnership marks a significant milestone in supporting their growth and expansion within the Nigerian snack food industry.
“The investment aligns with our investment objectives and our determination to back indigenous female founded businesses that lack access to patient growth capital.”
According to her, the company was founded and led by a woman with over 46 per cent female ownership, 45 per cent female representation across its workforce and 59 per cent female representation amongst its distributors.
Okunbo-Rhodes, women economic advocate further also said, “The investment also represents our commitment to empowering local businesses, encouraging import substitution and fostering sustainable economic development in Nigeria through job creation.
“We firmly believe in Fastizers’ potential to revolutionise the snack food industry in Nigeria, and we are excited to witness their continued success and import.”
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