At the heart of our ethos lies an unwavering conviction: investments should yield economic value and attractive returns while championing sustainability and fostering positive change.
Our investment philosophy is a seamless fusion of sustainability and impact woven into every facet of our approach. This commitment translates into tangible results: job creation, gender equality advancement, enhanced literacy and health, fortified food security, and, above all, enriched lives.
Central to our strategy is an investment approach that marries superior returns with environmental, social, and governance (ESG) factors. From investment inception to exit, we meticulously integrate these ESG considerations, underpinning our decision-making throughout the investment life cycle. Our mission centres on harnessing opportunities for broader environmental, social, and economic progress – a commitment we diligently track across every investment’s journey.
Empowering Growth Through Diversity:
Our investment ecosystem comprises over 6,000 individuals, driven by a commitment to sustainability. By the close of 2022, we proudly achieved a 50% gender-balanced workforce, embodying our dedication to impactful change.
Fostering Local Prosperity:
Through collaboration with 3,000+ local suppliers, our partner companies have infused over $60M into the economies of our investment communities, amplifying the positive impact of local procurement in 2022.
Through our partner companies’ 24.2MW renewable energy contribution, we spared over 12 tons of carbon emissions in 2022, catalyzing a more sustainable path for our local markets.
We adhere to international codes driving top-tier Environmental, Social, and Governance (ESG) practices. Our investments align with respected guidelines, such as the British International Investment’s Responsible Investment Code, the International Finance Corporation’s Performance Standards, and the African Development Bank’s Integrated Safeguard System. We also embrace national ESG laws and sector-specific regulations in our focus areas.
We proudly support key initiatives like the UN Principles for Responsible Investment, the UN Global Compact, and the Initiative Climat International. Our commitment extends to the Paris Agreement’s goals. We foster climate-conscious, resilient partner companies, invest in renewable energy, and champion resource efficiency. Steadfastly, we pave the way towards net-zero carbon emissions alignment.
“We generate attractive returns and create substantial co-investment opportunities for our investors while developing positive economic, environmental and social impact for the local economy”
– Daniel Adeoye
Principal and Head of Investments, Verod
Since its inception, DTRT has created over 4,200 new jobs, with 70% of its workforce being previously unemployed women. All employees benefit from ongoing professional development. DTRT has implemented its leading sustainability standard – “DTRT: Do The Right Thing” – to drive social change in less developed communities.
DTRT, in partnership with Peace Corps, manufactures and donates thousands of reusable sanitary pads to underprivileged girls using scrap materials from its production process. Environmental sustainability is also at the core of DTRT’s business model. DTRT’s WaterSave™ fabric reduces water use in fabric production by 80% and energy consumption by 17% at a similar cost as traditional fabrics by eliminating the wasteful dyeing process. This saves approximately 4,225 gallons of water per 1,000 shirts.
Right from the beginning of the construction of the Shaldag fish farm, we prioritised sourcing and using materials, contractors, and labourers from the local community. The farm utilises a recirculating aquaculture system, a considerable investment, but technology that allows Shaldag to utilise 10% of the water usage of comparable farms in Nigeria. In a similar vein, Shaldag invested in a wastewater treatment facility that reduced the level of effluent released by 50%. The company also constructed roadways that benefit the surrounding community.
GZ Industries (GZI)
In 2006, we partnered with foreign investors to establish the first aluminium can manufacturer in West Africa. The investors had the land and the idea, and we provided the capital and operational support. We helped secure debt for expansion, hire a management team, and implement high-quality corporate governance. The company also expanded operations to South Africa.
The investment had a significant ESG impact. By manufacturing aluminium cans locally, the company helped to reduce the need for imported cans. This reduced transportation emissions and supported local jobs. The company also invested in renewable energy, water conservation measures and helped to substitute imports for local production. Previously, all aluminium cans in West Africa were imported. We helped create a more sustainable and self-sufficient supply chain by establishing a local manufacturing plant.
We exited the GZI in 2018, having successfully created a profitable and sustainable business. The company’s success is a testament to the value of ESG investing and the importance of import substitution.
Daystar Power is a leading provider of renewable energy solutions in West Africa. The company installs and operates captive power plants for commercial and industrial clients and has an installed solar capacity of 36 MW.
Daystar Power’s ESG impact is significant. The company has decarbonised its operations by eliminating 30,500 tons of potential CO2 emissions. Daystar Power has also tackled the gender gap in the energy sector by training and hiring 28 female solar engineers.
In addition to its environmental and social impact, Daystar Power is also a financially sustainable business. The company has reduced its clients’ energy spend by an average of 30%, which has helped them to improve their bottom line.
We exited Daystar in 2018.