- With a round of investment under their belt, the organization will further expand beauty product line and increase economic development projects in Sub ‐ Saharan Africa
WASHINGTON, Dec. 12, 2014 /PRNewswire/ -- Shea Yeleen Health and Beauty, LLC (SY) announced today that it has finalized a follow-on round of investment with the PanAfrican Investment Co., LLC (PIC). Funds from PIC will be used to build the brand, which currently sells high quality natural skincare products through 65 Whole Foods Markets and independent retailers along the east coast.
Shea Yeleen Founder and CEO Rahama Wright shares: "Shea Yeleen's mission is to economically empower African women shea butter producers through the marketing and sale of high quality shea butter products. PIC invested in Shea Yeleen because they believe in the hardworking women in Ghana, who are the backbone of our company."
With this round of investment, SY has many new projects underway including expanding its senior management team, creating brand extensions, and distributing products in international markets.
CEO of PIC, Dana Reed, says "Supporting business development in Africa is something our investment company is committed to. Investing in Shea Yeleen is in line with the direction impact investing is heading, and I believe that investing in these women-owned cooperatives that produce shea butter will have a positive economic change on the 800 women in the coops and their families, all while producing a return on our capital."
On November 5th 2014, Shea Yeleen's business model was recognized by the Secretary of Commerce when Wright, along with 14 other private sector leaders, was appointed to the newly established President's Advisory Council on Doing Business in Africa (PAC-DBIA) by U.S. Secretary of Commerce Penny Pritzker.
Joana Teviu the Secretary of the Tamale Shea Cluster Initiative states: "My experience with Shea Yeleen is unique. Unlike other buyers, who are only interested in the profits they make, Shea Yeleen looks at improving the lives of women and their communities. The PIC investment will continue to give the resources for more women's conditions to improve."
Shea Yeleen focuses, not only on empowering women with resources, but on educating consumers. Says Wright: "When we think of the families and communities around the world that are directly impacted by each purchase we make, it makes buying a powerful act and an amazing opportunity to make a difference in the world."
About PanAfrican Investment Co., LLC
Headquartered in New York, PIC is a private investment firm founded by Dick Parsons and Ronald Lauder. Their mission is to invest in companies and provide solutions that effect growth and development in sub‐ Saharan Africa. For more information visit: www.PICinvest.com
About Shea Yeleen Health and Beauty, LLC
Shea Yeleen Health and Beauty, LLC sells high‐quality beauty products using 100% natural, unrefined shea butter produced by women‐owned cooperatives. The company is the commercial entity within a social enterprise that includes Shea Yeleen International, a 501c3 nonprofit. Shea Yeleen products are available at select Whole Foods Markets, other independent retailers and online via the company's website. The mission is to promote sustainable economic development in rural sub‐Saharan Africa, empower and train shea butter cooperatives, and educate consumers in the U.S. about natural, fair trade beauty care products. For more information, visit: www.sheayeleen.com.
SOURCE Shea Yeleen Health and Beauty, LLC