GreenHouse Capital invests $10m to boost SMEs in Nigeria

As Nigerian government determined to diversify its economy from oil, GreenHouse Capital, said it has injected not less than $10 million into the Nigeria’s economy in two years, so as to boost the Small and Medium Enterprises (SMEs) in the country.

The company’s founding partner, Mr. Bunmi Akinyemiju, who disclosed this to The Daily Times of Nigeria (DTN) in Lagos recently, said that the aforementioned amount was invested in13 SME companies across the country.

Akinyemiju, noted that the SME companies who had received a boost due to its investment are that are: APPZONE; Prepclass; Resources; PAYPAD; Flutterwave and MAXI.NG.

Also benefitting from its million dollars investment include Talentbase; Riby; Adspread; DC, SureBids, and tutor.ng.

According to him, the purpose for creating GreenHouse Capital is to reach out to raw talent in Nigeria, who do not have the right environment, right encouragement and the right funding, thereby promoting them to become a Technological Entrepreneur in Africa.

“The rationale behind this investing in Nigeria economy is to make Nigerians think local, developed locally and scale then globally, and that is why the company gives the right encouragement, right funding and right training for local investors before scaling them globally”, he stressed.

He, however, added that all the money is not only coming from Nigeria or Africa, but rather from California, New York and across the globe.

“Such money would not come into Nigeria economy unless we have already ready-made Nigerian investor that have put their money down, so GreenHouse is also acting like catalysts to aid this development.

“GreenHouse had invested in some company (ies) that are doing business like micro lending, also that are into invention of new PoS, which are smaller and faster for banks. We have a company they could also produce instant card issuers with lot of business technology”, he explained.

Speaking on company evaluation before investing into it, he said, by looking at their needs with the impact this will produce on their businesses, it usually in different stages, which could come in bit, some of them could just start with at least just $500 and $300.

“We are very excited now, because three of the companies are now founded by California based top investors”, he disclosed.