GHANA — Oasis Capital Ghana, a fund manager focused on West Africa, announced its first close of US$100 million Oasis Africa Fund II (OAF II).
The fund has secured US$33.3 million in capital commitments and expects to raise the remainder by the end of June 2025.
OAF II will continue the impact-driven investment strategy established by its predecessor funds. The fund targets SMEs in West Africa, focusing on Ghana and Cote d’Ivoire.
These SMEs operate in sectors critical to developing a strong middle class, such as education, healthcare, finance, housing & hospitality, and food services.
This latest fund builds on Oasis Capital Ghana’s track record. The firm’s initial vehicle, the Ebankese Venture Fund (EVF), was a US$11 million fund supporting small and medium enterprises (SMEs) in Ghana.
Following that, Oasis Africa Fund I (OAF I) raised US$50.5 million and invested in SMEs across Ghana and Côte d’Ivoire. EVF and OAF have been fully invested, deploying capital to 21 businesses across various sectors.
“As the fund manager, Oasis Capital integrates environmental, social, and governance (ESG) considerations into its investment decisions,” Matthew Boadu Adjei, CEO of Oasis Capital Ghana, said in a statement.
“This commitment extends to a focus on gender lens investing, actively seeking opportunities to promote gender equality and empower women-led businesses,” he added.
Some businesses that have benefited from Oasis Capital in Ghana include Legacy Girls College, Everpure Ghana Water, SINEL Specialist Hospital, and Metropolitan Health. Meanwhile, in Côte d’Ivoire, MANSA Bank and PISAM Hospital have also received support from Oasis Capital.
Michael Mensah-Baah, the deputy managing director of Development Bank Ghana, one of the OAF II investors, said: “The OAF II aligns its investments with the United Nations’ Sustainable Development Goals (SDGs) including No Poverty, Good Health and Well-being, Quality Education, Gender Equality, Clean Water and Sanitation, and Life on Land.”
“This formed part of the fund’s attractiveness to include in our investment portfolio and provide targeted support to the SMEs in Ghana and Côte d’Ivoire.”
The investor base includes names such as Development Bank Ghana, Venture Capital Trust Fund, GCB Capital, Stanbic Investment Management Services, ENO International, Investcorp Asset Management, CAL Asset Management, PETRA Advantage, PETRA Opportunity, Data Bank Asset Management, Standard Pensions Trust, and Oasis Capital Ghana itself.
Some businesses that have benefited from Oasis Capital in Ghana include Legacy Girls College, Everpure Ghana Water, SINEL Specialist Hospital, and Metropolitan Health.
Meanwhile, Cote d’Ivoire MANSA Bank and PISAM Hospital have also received support from Oasis Capital.
This proven ability to identify and nurture high-potential companies positions Oasis Capital Ghana as a trusted partner for investors seeking to contribute to West Africa’s economic growth.
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