The statement issued by Wangara Green Ventures, Good Roll factory and Innohub, a business accelerator, noted that the move was to contribute positively to the mitigation of climate change effect across Africa.
The statement indicated that the investment, which was the first of its kind in the West African Region, would position the company to contribute to the realisation of the United Nations (UN) Sustainable Development Goals (SDGs).
It indicated that the use of bamboo as the primary raw material by the company was “more sustainable since as a type of grass, it grows back faster (less than two years) after harvesting contrary to a tree which takes decades to replenish.”
The statement also said the company’s activities had helped in reducing carbon dioxide emissions in the environment, prevented erosion or land degradation and the pollution of the environment through well-developed plan of engaging bamboo farmers (out growers) together with relevant organisations that led to the use of sustainable methods of farming, acquisition of raw materials and production of the finished goods.
The statement added that Wangara Green Ventures had also invested between GHC 250,000 to GHC 2,500,000 in Small and Growing Ghanaian Businesses (SGBs).
It said the investment had enabled the businesses to make social and environmental impact in Ghana.
The statement said in addition to that, it supported the growth and sustainability of the SGBs by making available pre-investment and post-investment Technical Assistance Grants, under the Ghana Climate Venture Facility with funding from the World Bank.