GroFin Grants and Funding for Small and Growing Businesses in Africa 2022
GroFin is a specialist, impact-driven SME financier. We help entrepreneurs succeed by providing them with business loans and business support (expert advice and continuous guidance) to grow their businesses. We believe that a growing SME sector which creates sustainable jobs is the most powerful driver of social and economic development that truly improves people’s lives.
GroFin is seeking applications for its Small and Growing Business Fund.
GroFin is a pioneering development financier specializing in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East.
GroFin combines patient capital and specialized business support to grow emerging market enterprises.
Objectives
80 – 100 investments per year at an average deal size of USD $100,000- USD $1.5 million in local currency.
The fund typically provides finance in forms of medium term loans. Over 10 years the growing SGB portfolio will sustain 32,000 employees as part of its impact.
A specialist fund manager with a proven track record and local capacity in 9 countries in Africa.
Focus
Focus on Small and Growing Businesses (SGBs) that are grossly underserved by other funds or financiers.
Delivers a unique integrated solution for patient risk capital and end-to-end business support to start-up and growing businesses at the SME base.
Fund Size
US $100+ Million
Locations
Nigeria, Ghana, Zambia, Egypt, South Africa, Kenya, Tanzania, Rwanda, Uganda
Eligibility Criteria
- Applicant’s business operates in one of the following countries: Nigeria, Ghana, Zambia, Egypt, South Africa, Kenya, Tanzania, Rwanda, Uganda.
- Applicant’s business is for profit.
- Applicant’s business has a turnover of less than $15 million and assets less than $6 million
- Applicants require financing between $100,000 and $1.5 million.
- The business owner is substantially involved in running the business.
Source: https://www.grofin.com/
