Verdant IMAP Advises Miro Forestry & Timber Products ("Miro") on its Equity Raise
The equity capital raise was led by Lagata an investment company focused on active investments in sub-Sahara Africa with significant experience in the forestry sector in the West Africa region. Lagata, which is now Miro's largest shareholder, brings strategic value and alignment with Miro's long-term vision. Five existing shareholders in Miro also participated in the equity funding transaction, Agwa Partners, British International Investment, Finnfund, FMO and Mirova, demonstrating continued confidence in Miro's strategy, impact and commercial potential, and validating the overall transaction structure. Proceeds from the equity capital raise will be used to fund operations, working capital requirements, and ongoing planting activities aligned with Miro's business plan.
The equity capital raise was achieved during a challenging period for the wider industry, with macroeconomic pressures and a prolonged downturn in plywood prices. Yet demand continues to grow for resilient, responsibly sourced materials. Miro's vertically integrated model, combining certified sustainable forestry, local job creation, and advanced plywood manufacturing, offers a compelling solution to global buyers looking to secure long-term, ethical supply.
This transaction highlights Verdant IMAP's ability to structure and execute complex capital solutions for its clients, while reinforcing its strong relationships with leading development finance institutions. The transaction is Verdant IMAP's sixth completed transaction in the broader agro-industrial sector in the last 24 months. The transaction also represents Verdant IMAP's fifth major transaction in West Africa in the last four years.
Berend Jan Kingma, CEO of Miro, commented:
'We are proud to welcome Lagata as our new principal shareholder. Their experience in forestry and deep understanding of African markets make them a natural partner for the next phase of Miro's growth. We are equally grateful for the continued support of our existing shareholders, who share our belief in the power of sustainable forestry to deliver both commercial and social value. With this investment, we're well positioned to strengthen our global reach and deepen our impact across the region.'
Distributed by APO Group on behalf of Verdant Capital.
Media Enquiries:
Orient Mahonisi
T: +27 10 140 3700
E: orient.mahonisi@verdant-cap.com
About Verdant IMAP:
Verdant IMAP is a leading investment bank operating on a pan-African focus, specialising in M&A and in private capital markets. Verdant IMAP is the IMAP partner firm for its region. IMAP with partner firms in nearly 50 countries, with over 600 M&A professionals, completing over 250 M&A transactions per year, reinforces Verdant IMAP's capability to deliver innovative financial solutions to clients across Africa and around the World. www.Verdant-Cap.com
About Miro Forestry&Timber Products:
Founded in 2009, Miro is a vertically integrated plywood manufacturing business headquartered in the United Kingdom, with operations in Ghana and Sierra Leone. The company manages over 20,000 hectares of sustainably planted timberland, producing high-quality FSC-certified hardwood plywood and ancillary timber products. Miro supplies customers globally, including in North America, Europe, the Middle East, and in local African markets. Miro employs over 4,000 people.
About Lagata:
Lagata invest in businesses in growth markets, with a specific expertise in emerging markets and particularly in Sub–Saharan Africa. Lagata puts responsible investment at the core of its investment strategy, focusing on growing businesses that can generate sustainable profits and create a positive social and environmental impact. Lagata adds long-term value to their businesses while aiming to improve the infrastructure where they operate. Lagata achieves this through hands on involvement, and by connecting these companies to the ecosystem of support services that Lagata have built up throughout the region.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
8 hours ago
- Zawya
Zimbabwe's Lithium Boom Gains Pace with New Projects, Partnerships
Zimbabwe – Africa's top lithium producer and among the world's leading suppliers – is accelerating sector growth in 2025 through new partnerships, major project milestones and rising investment inflows. Against this backdrop, African Mining Week (AMW) 2025 – Africa's premier platform for mining stakeholders – will connect global lithium market players with investment-ready opportunities in Zimbabwe, while unpacking strategies to scale beneficiation and integrate the country into global supply chains. High-level discussions will feature Winston Chitando, Minister of Mines and Mining Development, alongside representatives from the Chamber of Mines of Zimbabwe. Export Growth Signals Momentum The country's production and export capacity is expanding rapidly. In the first half of 2025, Zimbabwe increased lithium exports by 30%, shipping 586,197 metric tons of spodumene concentrate compared to 451,824 metric tons in the same period of 2024 – underscoring its emergence as a critical supplier to global EV and battery markets. This trajectory strengthens Zimbabwe's position in global supply chains while highlighting the strategic importance of downstream investment and value addition within Africa. Beneficiation Efforts Gain Traction Zimbabwe is equally advancing local beneficiation to capture greater value from its resources. In July 2025, state-owned Verify Engineering successfully piloted a domestically manufactured lithium-ion battery, marking a step toward value addition and industrialization. A government ban on exports of lithium concentrates – set for 2027 – is already spurring construction of new facilities, including Kuvimba House's 600,000-metric-ton-per-year concentrator, Sinomine Resources' $500 million lithium sulphate plant at Bikita and Zhejiang Huayou Cobalt's 50,000-ton-per-year lithium sulphate facility. Rising Investment Flows The sector is attracting both established players and new entrants. In January 2025, Premier African Minerals secured £4.7 million to advance its Zulu Lithium Project, while since 2021, Chinese firms including Zhejiang Huayou Cobalt, Sinomine, Chengxin Lithium Group, Yahua Group and Tsingshan have invested over $1.4 billion in Zimbabwe's lithium value chain. Additional exploration is being advanced by companies from the UK, Canada, China, Australia, and Ireland, reinforcing Zimbabwe's position as a global lithium hotspot. This wave of capital not only diversifies Zimbabwe's investor base but also signals growing competition among global markets to secure reliable access to the country's strategic minerals. As AMW 2025 spotlights the full spectrum of mining opportunities across Africa, Zimbabwe's lithium sector will stand out as one of the continent's fastest-growing and most strategic investment frontiers. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
12 hours ago
- Zawya
Call for Exhibition Opens for 6th All-Africa Intellectual Property (IP) Summit 2025 in Dakar, Senegal
African Newspage ( is the official media partner of the 6th All-Africa Intellectual Property Summit (AAIPS 2025). With Africa's knowledge economy surging—African startups raised $289 million in January 2025 alone, a 240% year-on-year increase —AAIPS 2025 provides a premier stage to display innovations, forge strategic partnerships, and amplify visibility across the continent and beyond. 6 Reasons Why Exhibit at AAIPS 2025? 1. Brand Visibility&Market Expansion Exhibitors gain direct exposure to government leaders, private sector executives, and creative industry stakeholders. Demonstrating your IP solutions face-to-face creates lasting impressions, positioning your brand with those who matter most. 2. Networking with Decisionmakers Over 300 delegates, including ministers, policymakers, investors, academics, and innovators, will attend. This unique mix enables startups, SMEs, and IP professionals to build partnerships and engage directly with potential clients and funders. 3. Policy Influence AAIPS is more than an exhibition—it is a Pan-African platform shaping the future of IP policy. Exhibitors gain a front-row seat in influencing IP policy discussions and aligning Africa's innovation ecosystem. 4. Access to Finance&New Markets Investors and development agencies will attend AAIPS 2025 seeking innovations to support. Exhibiting at the Summit will open doors to capital, joint ventures, and partnerships to scale your ideas. 5. Thought Leadership&Credibility Showcase expertise, position your brand as an IP leader, and connect with Africa's growing innovation ecosystem. 6. Learning&Feedback Engage directly with participants, gather market insights, and refine your offerings based on real-time feedback. Exhibition Zones Innovation&Technology Zone – Innovators, entrepreneurs, and creators. Cultural Heritage&Creativity Zone – Showcasing Africa's traditions and creative industries. SMEs&Industrial Innovation Zone – Startups, businesses, and research groups. Youth&Women Entrepreneurs Zone – Empowering the next generation of Africa's innovators. IP Experts&Advisory Zone – Law firms, IP consultants, and national IP offices. Intellectual Property (IP) is central to Africa's development and intra-continental trade, protecting inventions, designs, brands, and cultural expressions. The All-Africa IP Summit is not just a gathering—it is a movement to transform Africa's innovation ecosystem. Apply now to exhibit and reserve your booth in Dakar: AAIPS Exhibition Form: Deadline: August 31, 2025 Innovation isn't silent—it exhibits loudly at the All-Africa IP Summit, 6th Edition in Dakar! Distributed by APO Group on behalf of African Newspage.
Khaleej Times
12 hours ago
- Khaleej Times
Taqa secures Dh8.5 billion term loan to boost liquidity and advance growth strategy
Abu Dhabi National Energy Company (Taqa), one of the largest listed integrated utilities in Europe, the Middle East and Africa, on Thursday announced it has secured an Dh8.5 billion corporate term loan facility. The facility is a two-year UAE dirham-denominated floating-rate loan, with a one-year extension option. Taqa intends to utilise the facility over time in a phased manner. Emirates NBD and First Abu Dhabi Bank were mandated by Taqa to act jointly as bookrunner, mandated leader arranger and coordinator while Mashreq acted as mandated lead arranger for the term loan facility. The use of dirham funding aligns with the group's dirham-based income profile and benefits from strong local liquidity, with Eibor offering a cost advantage over international benchmarks. The transaction enhances funding optionality, diversifies liquidity sources, and supports ongoing efforts to optimise the Group's capital structure and maintain the financial flexibility required to deliver on Taqa's long-term growth strategy. Jasim Husain Thabet, Taqa's group chief executive officer and managing director, said: 'Securing this facility marks another step in delivering on Taqa's long-term growth strategy, reinforcing our ability to maintain a strong and flexible balance sheet to support future investments. This facility demonstrates our ability to access competitive funding in our domestic currency, while retaining the ability to draw down in line with our capital and investment needs. The terms reflect the strength of our credit profile and the trust placed in us by our banking partners, ensuring we have the right financial foundations to continue delivering reliable and sustainable power and water to the communities we serve.' The facility offers Taqa greater financial flexibility compared to other available sources of funding, allowing drawdowns to be aligned with the Group's cash flow and investment schedule. The two-year tenor also aligns well with Taqa's maturity profile, as the group has no corporate debt maturities scheduled in 2027. This facility complements Taqa's existing corporate funding framework, which includes a $20 billion global medium term note (GMTN) programme and a $3.5 billion revolving credit facility. Together, these instruments provide the group with a well-balanced and diversified capital structure that supports both operational resilience and future growth. The facility also reinforces Taqa's financial readiness as it continues to execute on a strategic investment programme spanning domestic and international growth opportunities across power, water, and low-carbon energy.
