Miro has successfully raised equity capital led by Lagata to enhance its sustainable forestry operations, demonstrating strong investor confidence despite challenging market conditions.

Information on the Target

Miro is a prominent player in the sustainable forestry sector, focused on producing certified sustainable materials that meet the growing demand for responsibly sourced products. The company's vertically integrated model encompasses certified sustainable forestry practices, local job creation, and advanced plywood manufacturing. This strategic approach positions Miro as a reliable supplier for global markets seeking ethical and sustainable materials.

Recently, Miro successfully raised equity capital, primarily led by Lagata, an investment firm with extensive experience in the forestry sector across sub-Saharan Africa. As the largest shareholder, Lagata's strategic alignment with Miro's long-term vision is expected to bring significant value to both parties. The equity raise also included participation from five existing shareholders, affirming their confidence in Miro's strategy and potential for growth.

Industry Overview in West Africa

The forestry industry in West Africa is facing numerous challenges, including macroeconomic pressures and fluctuations in demand, particularly during downturns in plywood prices. Despite these hurdles, there is a growing recognition of the importanc