Target Information

Nouvelle Mici Embaci (NME) is a premier packaging company based in Ivory Coast, established in 1983 and headquartered in Abidjan. Over the past 40 years, NME has grown to become a market leader in the Industrial Packaging and Printing Industries. Originally focused on corrugated packaging, the company has successfully diversified its product offerings to include industrial printing, the production of polypropylene bags, and carton recycling. With a robust client portfolio that spans both local and multinational customers, NME has built a strong reputation for quality and reliability, serving diverse sectors such as Fast-Moving Consumer Goods (FMCG), agriculture, advertising, pharmaceuticals, and industrial markets.

This equity investment by Injaro Investment Advisors will enable NME to enhance its market presence in Côte d'Ivoire and explore expansion opportunities into other West African countries. The involvement of esteemed private equity investors, including Advanced Finance and Investment Group (AFIG Funds) and the Norwegian Investment Fund for Developing Countries (Norfund), lays a solid foundation for NME's future growth.

Industry Overview in Côte d'Ivoire

The packaging industry in Côte d'Ivoire is experiencing substantial growth driven by increasing consumer demand and a shift towards sustainable packaging solutions. Given the country’s strategic position as a leading exporter of agricultural products, the demand for packaging solutions that meet international standards continues to rise. Furthermore, with government initiatives aiming to boost local manufacturing and reduce reliance on imports, the industry is poised to expand its capabilities significantly.

Over the past decade, Côte d'Ivoire has seen rapid urbanization, leading to a growing population with a rising purchasing power. This demographic shift contributes positively to the packaging sector, as local companies seek innovative packaging solutions to cater to the appetite of consumers for convenience products. The packaging market is expected to further evolve with advancements in technology and materials, promoting efficiency and sustainability.

Moreover, the Ivorian government is increasingly supporting the manufacturing sector through various incentives, such as tax breaks and subsidies. This supportive environment encourages foreign and local investments, fostering a culture of entrepreneurship and innovation in the packaging industry.

As the demand for eco-friendly alternatives escalates, companies in the region, like NME, are well-positioned to capture market share by adopting sustainable practices. This transition aligns with global trends towards environmentally conscious production and consumption.

Rationale Behind the Deal

The decision by Injaro Investment Advisors to invest EUR 2M in Nouvelle Mici Embaci is driven by the potential for significant growth in the Ivorian packaging market. The investment will help NME leverage its established reputation and expand its operations, enhancing its ability to meet the burgeoning demand for innovative and sustainable packaging solutions. By entering into partnership with NME, Injaro aims to support local economic development while securing promising returns for its investors.

This investment aligns with the Injaro Ghana Venture Capital Fund's focus on sectors that foster economic growth and societal advancement, including Manufacturing and Industrial Services. The collaboration with a strong consortium of investors further strengthens the strategic framework for value creation in the venture.

Information About the Investor

Injaro Investment Advisors Limited is a licensed investment advisory firm based in Ghana, specializing in private equity and corporate finance. As part of Injaro Investments Limited, the firm manages over USD 100 million across various funds, with investments in Sub-Saharan Africa. The Injaro team brings deep expertise in private equity, asset management, and project management, underscoring their capacity to support portfolio companies in achieving sustained growth and performance.

The Injaro Ghana Venture Capital Fund (IGVCF), which is licensed by the Ghana Securities & Exchange Commission, is backed by local pension funds. The Fund focuses on creating impactful investments that promote environmental, social, and governance best practices, aiding in job creation and economic development throughout the region.

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The recent investment by Injaro in Nouvelle Mici Embaci is a noteworthy strategic move that has potential implications for the regional packaging industry. By engaging with a well-established player in Côte d'Ivoire, Injaro not only strengthens its portfolio but provides vital capital to a company positioned for growth. NME's track record and diverse client portfolio make it an attractive option for investment, especially in light of the expanding Economical prospects in the manufacturing sector.

Moreover, collectively partnering with AFIG Funds and Norfund enables a wealth of expertise and resources aimed at maximizing the investment’s success. Given the continuous demand for packaging in both local and international markets, this partnership is likely to yield considerable returns while also contributing to economic development within Côte d'Ivoire.

From an investment perspective, the decision aligns seamlessly with broader trends favoring environmentally sustainable solutions. As market dynamics shift towards eco-friendly practices, NME's ability to adapt will be vital for maintaining a competitive edge, making this investment even more promising.

Overall, this deal has the potential to be a significant driver for both financial returns and socio-economic growth in the region, positioning Injaro and its partners favorably as stakeholders in a transformative business landscape.

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