The fund follows two investments already made by Criterion in Form Ghana.
Last Monday, private equity firm Criterion Africa Partners, announced it committed US$17.1 million to the Ghanaian company Form Ghana, which manages forest plantations and is involved in the reforestation of degraded forest reserves.
The investment will enable Form Ghana to enter a new phase of commercializing carbon credits and teak (wood species) to businesses. "We are very pleased with our investment in Form Ghana and look forward to supporting the company and its management team through the next phase of its development," commented Jim Heyes, Managing Director of Criterion Africa Partners.
The investment in Form Ghana is the first transaction made by Criterion this year. The private equity firm invested in the forestry management company in August 2021 and November 2022. This new financial contribution is therefore a follow-up investment.
Form Ghana, established in 2007, is a subsidiary of the Dutch company Sustainable Forestry Investments B.V. The company plans to obtain forestry certification in June of this year, which will enable it to manage its plantations sustainably and attract more investors and corporate clients beyond Ghana.
According to Criterion, demand for wood from Africa could triple by 2050, driven by population growth and urbanization, leading to higher domestic prices and imports as well as increased degradation and deforestation of forests and natural woodlands.
Chamberline MOKO
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Ghana signs a deal with eLearning Africa to expand digital learning access across the country.• The partnership focuses on deploying modern digital...
Ghana launches the Oncology Nurse Leadership Program (ONLEP) to train specialized oncology nurses from seven African countries. The five-year...
Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output. The smelter will process up to 500,000 tonnes annually, starting at...
African gas projects drive significant contracts for Asian shipbuilders, especially for Floating Liquefied Natural Gas (FLNG) units. South Korean...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...