Oasis Capital Ghana has invested an undisclosed amount in Everpure Holdings, a water bottling company operating in Ghana.

The investment was made out of Oasis Africa VC Fund, an SME-focused fund targeting scalable businesses providing essential services in Ghana and Cote D’Ivoire.

Commenting on this transaction, Matthew Boadu Adjei, CEO of Oasis Capital, said: “We are excited to invest in a growing company backed by a strong management team.” 

“By combining the fund’s patient capital and value adding services, we see significant growth opportunities that will solidify Everpure’s market position, moving forward,” he said.

Established in 2008, Everpure has grown significantly year-on-year to become one of the leading water bottling companies in Ghana. The company produces, distributes and markets purified drinking water and has a vision to become the largest purified water producer in Ghana. 

Everpure currently operates two factories strategically located in Tema (east of Accra) and Kumasi (second city) and seeks to establish a third factory in west of Accra. 

With this investment, the fund will support the company to complete the construction of this third plant, acquire additional equipment and support working capital needs.

Richard Kwame Siaw, Investment Manager of Oasis Capital, said: “This transaction underscores our strategy to invest in businesses on the cusp of significant growth and operating in essential service sectors.” 

“Our expectation is that this transaction will improve the supply of clean drinking water to the populace, since more than 70% of the company’s product is targeted at lower- income earners. The project will also generate more than 1,000 direct and indirect jobs through the creation of formal water vendors and distributors,” he said.

Peter Narh, CEO of Everpure Holdings, added: “The capital infusion and business development support from Oasis will enable us capitalize on our growth opportunities to become the market leader within the next three years.”