Inside Capital Partners has invested USD $2.75 million in Alpha Polyplast Limited a leading manufacturer of recycled polyethylene terephthalate (PET) strapping in Zambia. This is investment is to finance and boost the growth of operations of the manufacturing company.
Inside Capital Partners made the investment from its first fund the Inside Equity Fund making it the fifth investment from the fund.
Alpha Polyplast was founded in 2015 and has been committed to recycling. The CEO of the company, Girish Sharma brings on board an extensive background in the recycling industry. The company projects to reach its full capacity in the next three years recycling over 3,000 tonnes of PET per year.
Girish Sharma, CEO of Alpha said: “Not only is Alpha a leader in the recycling industry in Zambia but we are extremely focused on helping the people in our local communities both on a macro and micro level. Inside Capital team have been very professional from the start, and have already shown their ability to bring value, allowing me to focus on the micro-level impacts of my company. So far, Alpha has helped clean the local environment through a waste collection service, provided steady employment to local men and women, and continues to educate people on the importance of recycling and creating eco-friendly businesses. We are always looking for ways to improve the quality of life locally and internationally through the business, and with my partners at Inside, Alpha has taken a giant step in the right direction. I look forward to continued success, and I am excited for what’s to come.”
Country Director, Basil Nundwe of Inside Capital Partners added: “We are delighted to partner with a promising entrepreneur and growing company. This investment is a clear signal from Inside that the « Socially and Environmentally Virtuous » business models that we target definitely have their place in our region. Indeed, among other benefits, this project will decrease plastic waste in Zambia, bring hard currencies in the country, reduce global carbon impact, create jobs, and generate financial returns for our investors. Furthermore, Alpha now has the opportunity to work with our other portfolio companies, in the same ecosystem, to maximize synergies and establish a truly innovative consolidation playbook in the waste management and recycling industry across the region to become a regional leader. In addition, we are convinced that we can bring value in terms of corporatizing the business, financial engineering, developing export sales opportunities, and process improvements.”