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The Nigerian start-up Green Africa Airways has finalized its first financing in partnership with the pan-African investment manager Kuramo Capital and has started negotiations for its future fleet.
Green Africa Airways founder and CEO Babawande Afolabi declined to comment on the exact amount that was raised, but said that Series A requires a "mission-focused investor" who believes in market opportunities . return on the investment potential.
"Series A financing, in many cases, is the most difficult to obtain for any new company," Afolabi said. "We are extremely fortunate that Kuramo Capital is supporting Green Africa Airways with this crucial round."
Kuramo Capital is an independent pan-African investment management group based in New York, with additional offices in Lagos and Nairobi.
"The aviation sector is an essential industry that can create significant shareholder value, while significantly contributing to the economic development of a nation." Green Africa Airways represents an opportunity for Kuramo Capital to generate an attractive risk-adjusted return for our investors and build a world-clbad business that will serve as a catalyst for economic growth on the African continent, "said Walé Adeosun, founder and CEO of Kuramo Capital.
Green Africa Airways, based in Lagos, describes itself as a "valuable airline" that aims to offer affordable air travel.The start-up has already obtained its air transport license and started working to obtain its certificate of flight.
Now that the initial funding is in place, Green Africa Airways has declared to be in "conversation" with the Afolabi confirmed that the airline was still considering launching domestic flights to Nigeria, using medium-sized rented jets, although no timetable has been specified.
Green Africa Airways has an advisory board made up of industry leaders, including former Dallas / Fort Tom Horton, CEO of American Airlines, founder of Viva Air Colombia and former CEO William Shaw, as well as the former director of American Airlines Virasb Vahidi
"Having such a prestigious board will position us not only for takeoff, but also for the creation of a clbad platform Global will help Green Africa Airways to become a leading carrier of the industry over the next decade "
Green Africa also named Caribbean Airlines VP operations Jag Singh as COO and ex-New York. based on JetBlue Airways' VP-Jet operations Bart Roberts as chairman of the safety review committee. Captain of Boeing 737 of ASKY Airlines, Folu Oladipo, who was previously technical pilot of Nigeria's largest carrier, Arik Air, is the chief pilot of Green Africa
Victoria Moores [email protected]
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