Key Takeaways
- • Aruwa Capital Management, a Lagos-based private equity firm focused on Nigeria and Ghana, has announced an investment in Polysmart Packaging, a Nigerian plastic recycling and packaging company, made in December 2025 through its second fund, Aruwa Capital Fund II.
- • Polysmart commissioned Phase 1 of its expanded recycling facility in Mowe, Ogun State, on 29 October 2026, with the Aruwa capital supporting the expansion.
- • Polysmart, founded in 2013 as a flexible packaging business, has moved into PET recycling and produces food-grade rPET flakes and resin pellets for beverage and FMCG manufacturers.
- • Polysmart's management frames the business as addressing Nigeria's plastic waste challenge and import substitution, with the company positioning itself to supply food-grade recycled resin as new regulations take effect.
- • The deal was described by both parties as more than capital, with Aruwa providing governance and hands-on strategic support.
Summary
Aruwa Capital Management, a Lagos-based private equity firm focused on Nigeria and Ghana, has announced its investment in Polysmart Packaging, a Nigerian plastic recycling and packaging company, according to Africa Private Equity News. The investment was made in December 2025 through Aruwa Capital Fund II, the firm's second fund, to support Polysmart's expansion.
Polysmart commissioned Phase 1 of its expanded recycling facility in Mowe, Ogun State, on 29 October 2026. The company was founded in 2013 as a flexible packaging business and has since expanded into PET recycling to address Nigeria's growing plastic waste challenge and rising demand for sustainable packaging. It produces food-grade rPET flakes and resin pellets for beverage and fast-moving consumer goods (FMCG) manufacturers.
Wasiu Balogun, founder and chief executive officer of Polysmart, said Aruwa's backing helped the company bring Phase 1 to commissioning and positions it for the next stage of growth, including building the food-grade recycled resin supply that Nigeria's beverage and FMCG brands will increasingly need under new regulations. He described Aruwa as more than a capital partner, citing its governance and hands-on strategic support.
Adesuwa Okunbo Rhodes, founder and managing partner of Aruwa, said Polysmart shows that world-class manufacturing can be built, owned and run in Nigeria, and that the business sits at the intersection of environmental sustainability, manufacturing excellence and import substitution. The article does not disclose the investment amount or Aruwa's stake.
Polysmart commissioned Phase 1 of its expanded recycling facility in Mowe, Ogun State, on 29 October 2026. The company was founded in 2013 as a flexible packaging business and has since expanded into PET recycling to address Nigeria's growing plastic waste challenge and rising demand for sustainable packaging. It produces food-grade rPET flakes and resin pellets for beverage and fast-moving consumer goods (FMCG) manufacturers.
Wasiu Balogun, founder and chief executive officer of Polysmart, said Aruwa's backing helped the company bring Phase 1 to commissioning and positions it for the next stage of growth, including building the food-grade recycled resin supply that Nigeria's beverage and FMCG brands will increasingly need under new regulations. He described Aruwa as more than a capital partner, citing its governance and hands-on strategic support.
Adesuwa Okunbo Rhodes, founder and managing partner of Aruwa, said Polysmart shows that world-class manufacturing can be built, owned and run in Nigeria, and that the business sits at the intersection of environmental sustainability, manufacturing excellence and import substitution. The article does not disclose the investment amount or Aruwa's stake.
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