So Fresh Neighbourhood Market gets foreign equity investment to drive expansion
So Fresh Neighbourhood Market (So Fresh) has just signed an equity investment agreement of €360,000 with Inclusive Impact Investments (Triple-I). The transaction is in tandem with Triple-I’s goals to increase social impact in developing countries; thus, So Fresh is strategically placed as a recipient of the investment, as a small and medium enterprise in Nigeria.
So Fresh is a fast-growing business venture with five stores across Nigeria. Starting out with an investment of €10,000 and three persons, eight years ago, the healthy food chain has grown to become the prime destination for fresh healthy food, employing over 100 persons. With the investment from Triple I, So Fresh will receive technical support to further pursue its strategic transformational goals, in line with its mission to ensure that healthier food options are available to Nigerians across the country. The investment will increase the supply and delivery options for fresh, safe, nutrient-rich food.
So Fresh Neighbourhood Market is poised to be the national premier option for clean eating, providing healthier alternatives across socio-economic divides. In the next two years, So Fresh aims to create over 150 new jobs, opening 10 new outlets, across multiple Nigerian cities. In addition, the growth goal is to reach the small holder farmers, as the organization expands its supply chain locally.
The CEO, Olagoke Balogun stated that values of Oxfam’s Triple I “Impact First”, is aligned with that of So Fresh, “As an organisation we understand that nations thrive and succeed on the backdrop of an energetic and healthy populace. Hence beyond providing easy access to Fresh Healthy Meals, we inspire and motivate citizens to adopt a healthy lifestyle.
We are very excited about this growing partnership. By investing in us, they can continue to chart out a path to meaningful growth and create a brighter future with a large social impact footprint i.e. greater employment, higher income equality and better access to relevant services and products for people living in poverty. On the other hand, So Fresh will grow its business profitably and sustainably, while fulfilling its mission of ‘Inspiring everyone to live fresh and live healthy”.
RECOMMENDED ARTICLES
Comment
No comments found.