Aavishkaar Capital and KfW invest Ksh.700 million in Hela Apparel Holdings

Aavishkaar Capital and KfW invest Ksh.700 million in Hela Apparel Holdings

Aavishkaar Capital and KfW, a German state-owned investment and development bank, have announced their second investment from the ESG First Fund, a USD 5 million (Ksh.700 million) loan to Hela Apparel Holdings PLC.

The investment aims to support Hela's Africa growth strategy and their commitment to manufacturing in Africa. Hela Apparel Holdings provides sustainability-focused apparel supply chain solutions to global brands and has manufacturing facilities in Sri Lanka, Kenya, Ethiopia, and Egypt.

A R Rasiah, Chairman of Hela Apparel Holdings PLC, expressed his appreciation for the investment, highlighting the importance of strategic partnerships in realizing their vision for Africa as a global manufacturing hub.

He stated that the investment will aid in expanding their Egyptian manufacturing facility and strengthen the relationship with Aavishkaar.

Ashish Patel, Managing Partner, Credit, Aavishkaar Capital, shared his excitement about investing in Hela and transforming the apparel and textile landscape in the region.

He emphasized Hela's potential for large-scale job creation and building a sustainable business. Aavishkaar Capital looks forward to partnering with high-growth businesses in Asia and Africa, offering tailored financial solutions to support their growth.

Stephanie Lindemann-Kohrs, Director, KFW Development Bank, highlighted the opportunity for impactful businesses like Hela Apparel Holdings to meet the growing demand for sustainable products and reach new markets.

She believes that the investment will have a transformative impact on the textile and apparel sector in Africa. The ESG First Fund will continue to focus on supporting ecologically conscious sustainable businesses that provide significant employment opportunities.

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Aavishkaar Capital KfW

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