Aruwa Capital Management has invested $2 million in Fastizers, a tech-enabled Nigerian snack and confectionery maker.
An early-stage growth equity and gender lens fund with a concentration on investments in Nigeria and Ghana is called Aruwa Capital.
Fastizers will be able to extend its product lineup and increase its industrial operations thanks to the funding.
The company intends to add a new, fully automated production line with a capacity of approximately 1,200kg of snack items per hour as part of the expansion.
Fastizers, a locally based maker of snack foods, is essential to the development of the Nigerian snack food sector as well as the creation of jobs and business prospects for stakeholders.
Additionally, this advancement will enhance the company’s present assortment of delectable snacks, which includes Nibit, Sweetstix, and FunCookies.