Spear Capital invests in Arkay Plastics

Spear Capital has agreed to invest equity in a plastic manufacturer known as Arkay Plastics, based in Zambia, Malawi and Mozambique. Arkay Plastics began operating in 1997 with injection moulding machines that were able to produce 1 ton of plastic containers a day. The Zambian based company thereafter began operations in 2014, producing up to 90 tons per month. Arkay Plastics is now a well-known manufacturing industry player in the countries it operates and has further expansion plans in Zambia and Mozambique. The amount invested or the stake acquired was undisclosed.

Spear Capital provides growth capital to SMEs focused on fast moving consumer goods (FMCG) and local production in a few carefully selected countries. The engagement of development finance institutions and institutional investors ensures that environmental, social and governance (ESG) issues are the value drivers. The firm is located in Cape Town (South Africa) and Harare (Zimbabwe) and has a fund-raising office in Oslo (Norway). The limited partners of Spear Capital are Holta Invest as well as Norfund.

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