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Mirepa Investment Advisors closes an investment with True Moringa

Posted on by Dorcas Mirepa

Mirepa Investment Advisors Ltd. is glad to announce an investment in MoringaConnect Inc (DBA True Moringa) – a leading supplier of natural skincare & wellness products and organic bulk ingredients exported to the US, Asian, and EU markets.

True Moringa has built a supply chain from the soils of Ghana to the shelves of Whole Foods Market in the US. It has created 80 jobs, served 6,500 women and family farmers, and planted 3 million trees to afforest communities and sequester carbon. 

The investment from Mirepa Capital SME Fund I will allow the company to strengthen its local supply chain as well as boost its distribution capacity in the US and the EU. 

Commenting on the transaction, Enyonam Kakane, Head of Portfolio Management at Mirepa Investment Advisors highlighted the fund’s commitment to the agricultural sector, as well as its deliberate focus on a gender-lens investment consideration. She further intimated that True Moringa  has exhibited leadership in the export of organic certified products and demonstrated resilience and a high level of integrity in its operations. It is for that reason the Mirepa team is excited to be part of this journey. 

Kwami Williams, co-founder of True Moringa added: “We are beyond excited to partner with MIA toward our bold vision of profitably moving 20,000 farmers from poverty to middle income by 2034. Sadly, the majority of our investments have come from outside of Ghana. It means a lot to me and is important for the ecosystem to see MIA re-write that story: seasoned Ghanaian investing team investing into Ghanaians to do well and do good.”

 

About Mirepa Investment Advisors:

Mirepa Investment Advisors (MIA), is licensed by the Securities and Exchange Commission of Ghana to manage private equity and venture capital funds in Ghana. The Mirepa Capital SME Fund I (MCSFI) is the firm’s impact and missing middle fund that provides patient capital for early-stage businesses and SMEs in Ghana with a keen focus on three sector lenses: Technology, Light Manufacturing and Clean Tech.

About True Moringa :

Named Best of Indie Beauty Expo, Best of NY NOW, True Moringa, makes regenerative skincare and wellness products powered by superfood ingredients grown on their organic certified, solar powered farm in Ghana. It was incorporated in 2013 in Delaware (USA) and began operating in 2014. It has two subsidiaries in Ghana: True Farms Ltd & True Factory Ltd. To date, True Moringa has planted over 3 million trees to combat deforestation and malnutrition and served 6,500 women and farming families.

Mirepa Investment Advisors closes an investment with Wami Agro Limited

Posted on by Dorcas Mirepa

Mirepa Investment Advisors (MIA) is glad to announce an investment in Wami Agro Limited; an AgriTech company based in Ghana that delivers tech-enabled solutions to secure sustainable sourcing, improve farmer’s quality of life and protect the environment.

Wami Agro prides itself as a leading innovator in the agricultural sector, dedicated to enhancing sustainable farming practices and empowering farmers. Their innovative model widens access to finance and guarantees market access while being complemented by a programme of capacity building – including the provision of information, education, and farm input prescription to farmers to improve yields.

The Mirepa Capital SME Fund I (MCSFI) investment will allow the company to scale its operations while providing impact within its value chain. The total number of smallholder farmers supported is an impressive 12K annually.

Enyonam Kakane of Mirepa Investment Advisors, commented that the investment in Wami Agro delivers multiple social and economic value to both the investee and our investors: This investment comes at a time when agricultural value chains are in dire need of investments which they are not obtaining from the normal channels. The export opportunities that Wami Agro presents also means that this company will contribute to stabilizing the cedi with inflows of foreign currency. The Wami team has demonstrated great stewardship in the past and we look forward to exciting results from this investment.

Caleb Edwards, MD of WamiAgro added: “This strategic investment from Mirepa Investment Advisors will enable us to expand our reach, enhance our technological capabilities, and continue to drive positive change in the food and agricultural industry in Ghana and beyond. We are excited about the opportunities this partnership brings and remain steadfast in our mission to make wholesome food ingredients available, accessible, and affordable.’’

About Mirepa Investment Advisors:

Mirepa Investment Advisors (MIA), is licensed by the Securities and Exchange Commission of Ghana to manage private equity and venture capital funds in Ghana. The Mirepa Capital SME Fund I (MCSFI) is the firm’s impact and missing middle fund that provides patient capital for early-stage businesses and SMEs in Ghana with a keen focus on three sector lenses: Technology, Light Manufacturing and Clean Tech.

About Wami Agro Limited

Wami Agro Limited is an agri-tech company partnering with smallholder farmers to grow, aggregate, and sell diverse agricultural produce on the Ghanaian and international markets. Today, the Company has a network of over 13,000 farmers across five regions in Ghana in the rice, maize, soya and sorghum value chains. The Company intends to be the leading company driving sustainable food production and supply in Africa.

Mirepa Investment Advisors attends the inaugural 3i Africa Summit

Posted on by Dorcas Mirepa

 

Innovation. Investment. Impact. These 3 i’s rallied industry experts across the continent to explore opportunities and solutions to realize Africa’s FinTech and digital economic potential under the aptly named 3i Africa Summit.

Mirepa Investment Advisors (MIA), attended the just ended 3-day summit, which was from May 13th to May 15th, 2024 at the Accra International Conference Centre (AICC). The aim for participating in the summit was to build industry relationships, share and gain insights, and identify opportunities we can invest in.

After a round of discussions, presentations and networking, a number of key insights were gleaned. 

One major feat of the summit was change; change fostered by policy. Through the introduction of progressive policies and collaborative agreements to transform the African Fin-tech space, the summit set itself apart as an avenue to propel true economic transformation. As an impact fund, MIA believes this is a positive move that can be supported with alternative investments to move the needle on scaling up SME growth, sustainability and competitiveness on the continent and beyond.

One of our key sectors and considerations are agribusinesses and women led businesses. The “Women in Tech Conference” forum on Day 2 addressed the need to empower more female leaders, while the “Agriculture & Fintech Forum” explored the relationship and potential of these crucial sectors to drive African economies forward. As we gear up at Mirepa to launch WE FIT(Women-led Enterprises + Facilitating International Trade), our flagship initiative to facilitate international trade for women-led businesses, we believe Fin-tech will be a key ingredient in making this happen, successfully. 

MIA also identified key deals in the Fin-tech and payment solutions space at the 3i Africa Summit, and had conversations with these businesses to align investment goals. We had the pleasure to speak to The Blu Penguin, Kowri, PayAngel amongst others. To explore investment opportunities through our MSCFI fund, click here.

It was an enriching experience at this inaugural summit and we left with a hopeful investment outlook of a future driven by Africans, for Africans, with welcome support by the global community.

Mirepa Investment Advisors Announces Initial Close of MCSFI

Posted on by mirepaglobaladmin

Mirepa Capital SME Fund I (MCSFI) has reached an Initial Close after securing funds from local institutions, including the Venture Capital Trust Fund (VCTF), Petra Trust, Axis Pensions, and CAL Asset Management Company Limited (CAMCOL). The fund was launched on Thursday, 27th July at the ENSafrica office in Cantonments, Accra. 

The Fund is licensed by the Securities and Exchange Commission (SEC) of Ghana and focuses on light manufacturing, technology, and cleantech businesses within the following sectors: agribusiness (emphasis on agro-processing), education, healthcare, financial services, and business services (including industrial and mining support).

Mirepa Investment Advisors is dedicated to making a positive impact through MCSFI investments, and will actively seek opportunities to support and empower portfolio businesses to be inclusive and female-friendly. The Fund will play a crucial role in creating jobs, driving economic prosperity, and fostering sustainable development in Ghana by investing in high-growth SMEs

Mirepa Investment Advisors is grateful for the trust and support shown by its investors and looks forward to working closely with Ghana’s SMEs to create a lasting impact on the nation’s economic landscape.

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Mirepa Capital SME Fund I (MCSFI) Signs Warehouse Agreement

Posted on by mirepaglobaladmin

Mirepa Investment Advisors’ maiden fund, Mirepa Capital SME Fund I (MCSFI), which was recently licensed by the Securities and Exchange Commission, Ghana (SEC) as a Private Equity/Venture Capital Fund, has secured catalytic capital of GHS 10M from the Venture Capital Trust Fund (VCTF). The CEO, Mr Samuel Yeboah, and Ms Enyonam Kakane, a Principal and Executive Director of Impact Investing at Mirepa Investment Advisors Ltd. (MIA), signed the warehouse agreement on Wed, 09.11.2022 at the office of VCTF in Accra.

The funds from the warehouse agreement will enable the fund manager, Mirepa Investment Advisors Ltd., to begin investments in pipeline companies while they work towards the initial close for MCSFI. Target sectors for The Fund are agribusiness, education, healthcare, business services (including industrial and mining support), and financial services, with an allocation for strong businesses outside of these sectors. Overarching sector lenses for investments are light manufacturing, technology, and cleantech/climate change mitigation.

Congratulations to the MIA team on achieving this milestone.

Mirepa Team Presents Findings on Available Blended Finance Options

Posted on by mirepaglobaladmin

Over the last four (4) months, the Mirepa Team on behalf of SNV Ghana, conducted a market study to assess the availability of blended finance options for co-funding and de-risking mechanisms for GrEEn businesses (Agribusiness, Renewable Energy and Water, Sanitation and Hygiene-WASH) in the Ashanti and Western regions.

The findings of the study were presented by Sandrah Baafi and Esienam Agbenorto to a gathering of ecosystem players at the 3rd edition of the annual GrEEn Investment Forum organized by SNV on Thursday, 3rd November 2022 in the Ashanti region.

The key insights from the study are:

  • 1. Blended finance is still not well understood by both the suppliers and MSMEs.
  • 2. MSMEs access to finance has largely unchanged since 2020 when the initial study was done.
  • 3. Among GrEEn sectors, agriculture remains the dominant target and recipient of blended finance options.
  • 4. The business model of microcredit suppliers generally targets female clientele.
  • 5. Blended finance options like capacity building and portfolio management are less helpful without funding to stimulate MSMEs operations.
  • 6. The terms of available blended finance options are not always favorable.

Mirepa receives SEC approval for fund

Posted on by Sam Hubtel

This past month Mirepa received approval from the Securities and Exchange Commission (SEC) Ghana for its fund Mirepa Capital SME Fund I (MCSFI).  This brings the total of locally domiciled Private Equity/Venture Capital funds approved by the regulator to 3 (according to information on its website).

MCSFI is a fund domiciled in Ghana that will provide patient risk capital to early-stage businesses and SMEs that are committed to job creation, sustainable practices (climate impact) and strong participation of women in the workforce. The fund will focus on light manufacturing and technology businesses in sectors that provide basic and essential services (Agribusiness, Education, Financial Services and Healthcare).

The fund is managed by Mirepa Investment Advisors, a SEC regulated investment advisor with the mandate to manage private equity and venture capital funds in Ghana.

The key SDG areas for this fund are:

 

Wear Ghana launches new experience center

Posted on by Sam Hubtel

Mirepa SME Ventures portfolio company, Wear Ghana, launched a new experience center in Dzorwulu, a suburb of Accra, strategically located off one of the major highways in Accra.  This brings the number of physical locations the company has to two (2).  Although a majority of the company’s business is generated online and via virtual engagement, Wear Ghana finds that the physical experience centers compliments its eCommerce business very well.

Wear Ghana is a well-known brand in Ghana that employs unique infusion of African and contemporary western design to create new categories of apparel lines that appeal to a wide demographic of customers willing to connect to the African identity.  The company is a female-led and owned business that currently employs over 20 women in its workforce while strengthening the livelihoods of many others in its supply chain.

Mirepa SME Ventures (MSV) is a value addition vehicle that supports local businesses by making small investments of USD 10K – USD 100K from Mirepa Capital’s balance sheet.  The team works with dedicated entrepreneurs who run businesses with high growth potential and the ability to scale their products and services across borders.

Mirepa hosts Ashesi Venture Incubator fellows

Posted on by Sam Hubtel

This past week, members of the Mirepa team, welcomed 6 entrepreneurs/fellows from the Ashesi University Venture Incubator (AVI) to the Investment House (Airport West, Accra).  The Mirepa team supported the AVI fellows to undertake Financial Simulations that would prepare them to become investment ready.

The objective of the Financial simulations was to imitate the process of acquiring funding where fellows presented their pitches to a panel made up of Mirepa team and obtained feedback on their approach to access funds, a great learning process for their businesses to prepare for real world experiences.

According to the Ashesi University website, the AVI is a student-led incubator set up to support student-run businesses by providing them with the resources and funding that they will require in their early stages, in order to grow into fully-fledged companies. Ventures accepted into the incubator can be at any level of maturity, from simple ideas to existing businesses.

Present at the event were members from the Mirepa Capital team, the Mirepa Investment Advisors team as well as Nelly Sai Palm from the Mirepa US team. This initiative is part of a broader effort by Mirepa to help develop and strengthen the entrepreneurship ecosystem.

Mirepa visits women cooperatives in Northern Ghana

Posted on by Sam Hubtel

Earlier this month, members of the Mirepa Capital and Mirepa Investment Advisors team visited women producer groups and cooperatives in three regions in northern Ghana.   The membership of these producer groups and cooperatives collectively exceeded over 2000 and formed critical parts of the supply chains of female-led/owned businesses that the Mirepa team is supporting through one of its interventions for a client.

It is heartwarming to know that our interventions go to improve the livelihoods of these women, who work in various agricultural value chains including rice and shea as well as basket production.  Mirepa’s support is a value-chain driven approach that strengthens several supply chains by helping the businesses that source from them to stabilize and scale their operations.  In all 10 female-led/owned businesses that work with these producer groups and cooperatives are being supported by Mirepa.

This value chain approach forms a key part of Mirepa’s gender lens and job creation strategies for its investments.  By investing in businesses using this approach, significantly larger numbers of indirect jobs and livelihoods are impacted.

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