uMunthu Investment Company II, a Mauritius-based private equity fund, has announced its acquisition of a 26% stake in Hinckley E waste Recycling Limited, one of Nigeria’s leading electronic waste management firms. The deal, formalized through a Share Subscription Agreement, involves the purchase of 47.8 million preference shares, injecting significant capital into Hinckley’s operations.
Hinckley E waste Recycling specializes in collecting, dismantling, and processing end-of-life electronic devices such as phones and laptops. The company transforms these items into reusable components like batteries and printed circuit boards, which are then sold to local and international recyclers. This investment is expected to enhance Hinckley’s capacity for infrastructure upgrades and working capital, enabling it to expand its reach and efficiency in Nigeria’s growing but underdeveloped e-waste sector.
Nigeria faces a mounting e-waste challenge, being the largest importer of electronic waste in Africa, largely through Lagos port. Improper disposal of this waste poses serious environmental and health risks. With uMunthu’s backing, Hinckley aims to lead the country toward a more organized and environmentally responsible e-waste management system.
uMunthu Investment Company II focuses on supporting high-growth small and medium enterprises across Africa that deliver both financial returns and positive social and environmental impact.
A representative from uMunthu noted, “Hinckley presents a compelling growth opportunity within Nigeria’s e-waste management sector. Their experienced management and business model fit well with our investment philosophy.”
This strategic investment marks a significant step toward addressing Nigeria’s e-waste problem while fostering economic growth and sustainability in the region.
