Nigerian safety footwear manufacturer Yikodeen has secured a $1.5 million follow-on investment from Aruwa Capital Management, providing fresh capital to expand production and strengthen its position as one of the country's leading locally made footwear brands.

The investment, made through Aruwa Capital Fund II, builds on the firm's initial backing of Yikodeen in 2024 and reflects growing confidence in Nigeria's manufacturing sector and the company's expansion plans.

Founded in 2016, Yikodeen produces industrial safety boots for sectors including oil and gas, construction, manufacturing and utilities. The company has also expanded into consumer footwear through its YikoPlus brand, offering everyday and sports footwear alongside its industrial products.

Manufacturing Capacity Expands

Since receiving its first investment from Aruwa Capital, Yikodeen says it has significantly upgraded its manufacturing operations.

The company has commissioned a larger production facility capable of manufacturing up to 2,500 pairs of shoes per day, representing more than a tenfold increase in capacity. It has also introduced specialised safety footwear designed for industries requiring protection against electrical and water-related hazards.

The new funding will be used to optimise factory operations, recruit key talent, strengthen marketing efforts and selectively expand its retail presence across Nigeria.



Backing Local Manufacturing

Yikodeen says the investment comes as demand grows for locally manufactured safety equipment, driven by stronger local content policies and increasing workplace safety standards.

According to industry estimates, Nigeria's footwear market is worth more than $2 billion, with the safety footwear segment accounting for a significant share of demand across industrial sectors.

Aruwa Capital said the investment aligns with its strategy of supporting businesses that combine commercial growth with social impact, highlighting Yikodeen's focus on local production, job creation and women's participation in manufacturing.

As the company marks ten years in business, Yikodeen plans to use the new capital to scale production, reach more customers and strengthen its ambition of becoming a leading African footwear manufacturer.