Raheem Sterling's investment in Oja is an excellent example of how social and economic sustainability makes business sense.
Oja provides a digital service to an underserved consumer base. Food is one of the cornerstones of ethnic, African and Caribbean culture. However, finding the food you need in an area not populated with your community is a nightmare, or sometimes you want to avoid the mission of the market.
Oja solved this problem when they launched in 2020 by providing cultural and ethnic foods at our doorstep. It is no wonder they have exploded and are now expanding thanks to this investment. I like that they have a broad range of cultures they currently serve.
So how does Raheem Sterling’s investment demonstrate social and economic sustainability?
1. Oja is a black-owned business. VC funding for black founder businesses is stark; Raheem is giving the team an opportunity they likely would not have received. The team can now expand into other cultures and markets and be profitable. (Economic)
2. Oja is an online grocer; therefore, technology makes access to the foods people need and love available to a broad spectrum. (Social)
3. African and Caribbean grocers typically have to recreate their value and supply chains because the options are limited to receive goods the 'mainstream' way. This investment will enable the trade routes used to source products by African and Caribbean food suppliers 'mainstream'. (Social and Economic)
This is a mutually beneficial deal that is an intelligent investment by Raheem and a great business by the team at Oja.