uMunthu Investment Company II, a private equity fund based in Mauritius, is set to acquire a 26% stake in Hinckley Ewaste Recycling Limited, a leading Nigerian electronic waste management company.
Details of the investment were disclosed in a notice submitted to the Federal Competition and Consumer Protection Commission (FCCPC).
The deal, structured through a Share Subscription Agreement, will involve the acquisition of 47.8 million preference shares, injecting significant capital into Hinckley’s operations.
Founded to address Nigeria’s growing electronic waste problem, Hinckley Ewaste Recycling specializes in the collection, dismantling, and resale of end-of-life electronics. Its Lagos-based facility processes devices like mobile phones and laptops, extracting materials such as batteries, circuit boards, and plastic components for resale to both local and international recyclers.
Clients include corporate organizations with large-scale e-waste output and global recycling firms focused on metals and batteries.
The new investment is expected to enhance Hinckley’s infrastructure, boost working capital, and expand its capacity to operate more efficiently in Nigeria’s underserved e-waste management market.
uMunthu Investment Company II, managed by Goodwell Investments, targets high-growth SMEs across Africa with a focus on social and environmental impact.
In its filing with the FCCPC, uMunthu described Hinckley as a “compelling growth opportunity within the high-potential e-waste management sector in Nigeria,” praising the company’s experienced management and sustainable business model.
The investment aligns with uMunthu’s broader goal of backing businesses that deliver both financial returns and positive environmental or social impact. The deal also supports goals around job creation, resource efficiency, and environmental sustainability.
Nigeria remains Africa’s largest importer of electronic waste, much of it entering through Lagos ports, according to the International Telecommunications Union (ITU).
