Wangara Green Ventures, an impact investment fund, has announced a GHC 1.4 million investments into Good Roll factory to produce a climate-smart and sustainable toilet tissues in the country.
The statement issued by
Wangara Green Ventures, Good Roll factory and Innohub, a business
accelerator, noted that the move was to contribute positively to the
mitigation of climate change effect across Africa.
The
statement indicated that the investment, which was the first of its
kind in the West African Region, would position the company to
contribute to the realisation of the United Nations (UN) Sustainable
Development Goals (SDGs).
It
indicated that the use of bamboo as the primary raw material by the
company was “more sustainable since as a type of grass, it grows back
faster (less than two years) after harvesting contrary to a tree which
takes decades to replenish.”
The
statement also said the company’s activities had helped in reducing
carbon dioxide emissions in the environment, prevented erosion or land
degradation and the pollution of the environment through well-developed
plan of engaging bamboo farmers (out growers) together with relevant
organisations that led to the use of sustainable methods of farming,
acquisition of raw materials and production of the finished goods.
The
statement added that Wangara Green Ventures had also invested between
GHC 250,000 to GHC 2,500,000 in Small and Growing Ghanaian Businesses
(SGBs).
It said the investment had enabled the businesses to make social and environmental impact in Ghana.
The
statement said in addition to that, it supported the growth and
sustainability of the SGBs by making available pre-investment and
post-investment Technical Assistance Grants, under the Ghana Climate
Venture Facility with funding from the World Bank.
GNA
