Wema Bank
Wema Towers, 54 Marina, Lagos, Nigeria
Overview
Wemabank is one of the resilient banks and the founder of Africa's first totally digital bank, ALAT. To the ever-growing client base, they provide a variety of retail and SME banking, corporate banking, treasury, trade, and financial advisory services. In delivering value to all of its stakeholders, they have remained inventive. They have a history of trust and tenacity that has earned us devoted consumers and are continually creating products and services that are customised to their needs at all stages of life.
- Total investments
- 1
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 3
Sector focus
- Banking
- Credit
- Financial Services
Investment portfolio
- Terra Aqua
Led · Equity · Jun 2024
Terra Aqua Environmental Consultancy Limited operates Nigeria’s largest sustainable aluminum recycling plant in Otta, Ogun State, with over 15 years of experience in metal scrap recycling and trading. Its facility can produce 3,000 metric tons of aluminum ingots annually and holds certifications from the Environmental Permit and the Nigeria Export and Promotion Council. The company emphasizes climate‑smart recycling practices that achieve a reported 95% reduction in CO2 emissions compared with primary aluminum production. Terra Aqua plans to expand operations through climate finance to scale recycling capacity over the next five years, targeting the equivalent of recycling three Eiffel Towers in aluminum. The expansion is expected to generate roughly 200 local jobs and deliver significant environmental impact equivalent to removing 100,000 cars from the road. A $10M investment from TLG Capital and Wema Bank will fund the immediate growth and operational scaling.