Ororo Waste secures corporate note commitment of up to ₦1.4 billion
Rising Tide Africa’s financing will support cooking oil purchases, collection hubs and working capital.
Rising Tide Africa has committed up to ₦1.4 billion to Ororo Waste Management through a corporate note. The company received the first tranche on September 16, with further tranches potentially available through December 16.
The capital will finance collection infrastructure, feedstock purchases and hub operations. Ororo plans to expand from three hubs to more than 40 across Nigeria over five years.
Working capital is central to that plan: buying oil from collectors requires cash before export customers pay. The financing supports that purchasing cycle as Ororo develops a larger supply network.
Use of funds
Expand used cooking oil collection hubs
Finance feedstock purchases
Support hub operating costs