Aruwa Capital Management has announced a follow-on investment in Yikodeen Company Limited, a Nigerian manufacturer of industrial safety footwear. The investment extends Aruwa Capital’s existing partnership with Yikodeen as the company marks its tenth anniversary. Financial terms of the transaction were not disclosed in the posts.
Factory Expansion and Commercial Growth
Yikodeen plans to use the new capital to optimise and expand its factory operations. The company intends to make targeted hires to support this effort and strengthen its operational capacity. It will also invest in marketing and brand positioning to support commercial growth.
Retail Footprint
Part of the investment will be used to selectively expand Yikodeen’s retail footprint. This approach is intended to broaden the company’s customer reach while supporting its growth plans. The announcements did not disclose specific retail locations, expansion targets or timelines.
Deepening the Partnership
ShamsiDeen A, founder and Chief Executive Officer of Yikodeen, said the company is pleased to deepen its relationship with Aruwa Capital. He described the investor as a partner that has supported Yikodeen’s growth journey in a relatively short period. The follow-on investment reflects continued confidence in the company’s strategy and development.
Adesuwa Okunbo Rhodes, founder and managing partner of Aruwa Capital, said the firm remains committed to backing Yikodeen’s ambition to build a leading indigenous safety-footwear manufacturer. She said the company’s model supports import substitution, job creation and women’s economic participation while also targeting commercial returns. The investment is aligned with Aruwa Capital’s broader strategy of supporting high-growth businesses with measurable economic and social impact.
The follow-on investment gives Yikodeen additional support as it enters its next phase of growth. Its immediate priorities include factory optimisation, targeted hiring, stronger brand positioning and selective retail expansion. The deal also reinforces Aruwa Capital’s continued focus on supporting local manufacturing businesses in Nigeria.