• Monday, July 15, 2024
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Women-led confectionery business gets $2m lifeline from Aruwa Capital

Women-led confectionery business gets $2m lifeline from Aruwa Capital

Africa’s foremost women-based business investor, Aruwa Capital Management said the organisation has injected the sum of $ 2 million into Fastizers, a female-founded and 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, has evolved into a household name and a rapidly growing snack food manufacturing company, captivating the taste buds of consumers across the nation.

According to the Founder and Managing Partner of Aruwa Capital Management, Adesuwa Okunbo Rhodes, they are excited about the vision of Fastizers and its potential of “becoming a leading player in the Nigeria snack foods industry.”

According to him, “This partnership marks a significant milestone in supporting their growth and expansion within the Nigerian snack food industry.

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“The investment aligns with our investment objectives and our determination to back indigenous female-founded businesses that lack access to patient growth capital.

“Founded and led by a woman with over 46% female ownership, 45 percent female representation across its workforce and 59 percent female representation amongst its distributors.”

The Women’s Economic advocate further added, “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.”