WIC Capital backed Wood Packaging Industry, which uses sustainably sourced wood for locally-made pallets for moving goods and shipping. Wood Packaging Industry company supports Côte d’Ivoire’s need for pallets as regional and international trade grows. It works with certified sustainable suppliers that comply with state-mandated reforestation requirements.
Wood Packaging Industry came through WIC Academy, the Dakar, Senegal-based gender lens investor’s accelerator program for women-led small and growing businesses in Senegal and Côte d’Ivoire. The deal is WIC Capital’s first in Côte d’Ivoire.
Pipeline building
WIC Capital grew out of Women’s Investment Club, a network of Senegalese business women committed to investing in female entrepreneurs. Its Academy provides both pre- and post-investment support to the Club’s investments, and serves as a pipeline for the fund’s investments.
WIC Capital has made 20 investments in Senegal. The fund provides both growth equity and repayable advances, a form of working capital that allows companies to ramp up production and deliver on contracts.
