In March 2015, Affirma Capital invested in GZ Industries (GZI), a Nigeria-based manufacturer of aluminum beverage cans that supplies to several multinational beverage companies across Africa.
With Affirma’s support, GZI launched a second manufacturing facility in Nigeria and one in South Africa. Affirma also helped GZI establish a comprehensive ESG management framework. Recycling aluminum saves up to 95% of the resources needed for new aluminum. As of September 2023, GZI’s operations in Nigeria and South Africa use 84.2% and 56.1% recycled content, surpassing the 50% target. GZI became the first can maker in Africa to receive the Aluminum Stewardship Initiative (ASI) certification, a global framework focused on fostering responsible production, sourcing and stewardship of aluminum across the value chain.