- July 7, 2021
- Posted by: Seeder & Ash Capital
- Category: roundup
As we start the new quarter, it is very important to look back and measure progress, in order to adequately prepare for the future.
The Q2 roundup is a summary of notable milestones achieved at Seeder & Ash Capital, as well as some of our Investee Companies, between April and June 2021.
In the second quarter of 2021, our advisory arm achieved the following:
- Successfully raised $1.5 million working capital facility for an oil servicing company to execute a contract with a major IOC.
- Structured and issued a Micro-lending note of
N500 million for selected microlending outlets to expand their loan books - Advised on the debt restructuring of
N1.7 billion for an agro-processing company - Advised on the kick-off of a private port terminal in the city of Agbara
- Structured and launch our Private Debt Investment Vehicle Instrument of
N1 billion.
Our Principal Investment arm was not left out, as some of our Investee Companies made some strides of their own.
- Successfully completed first cycle for our Sweet Pepper Farm on a 6-hectare farmland and output of 6 tons per hectare
- Kicked off the Maize Farm with initial farmland of 62 hectare and expected output of 192 tons.
- Successfully redeemed our short-term debt note for our Castor Farm project with proceeds from Sweet Pepper.
- Increased our truck fleet with 2 additional trucks of 15T and 20T.
- Secured 2 additional transport service agreement.
- Hired a Chief Operating Officer (COO) in a bid to boost operational efficiency and service delivery.
- Achieved 98% occupancy rate in our foremost hospitality and entertainment outlet in Ikate, Lekki.
- Acquisition and development of our 2nd hospitality and entertainment outlet in Oniru, Lagos (Project Euphoria). Project is nearing 85% completion.
- Entered a MoU with Lagos’ largest Beach House and Boat rental agency for the development of Beach Resort.
- Secured our Lagos State’ Hotel and Restaurant operator license.
- Received Equity Investment for 200,000 ordinary shares in the company
- Improved our processing output to 20 tons per week
- Secured an off-take contract with one of the largest recycling processing company in West Africa
Focused on unlocking the sustainable investment and capital required to build and drive the future of Africa, our objective is to support, drive and build large scale businesses that make a positive, significant, and sustainable impact in Africa whilst at the same time delivering value for all stakeholders.
