GroFin Funds an Africa Fund offers loans and equity capital in local currency to small and medium Enterprises has launched the first of its kind, uncapped and unlimited-life fund to support growth of small and growing businesses in uganda.
The GroFin Small and Growing Businesses (SGB) Fund aims to support over 9,800 under-served entrepreneurs and help create 47,000 sustainable jobs across Africa over the next 10 years.
While launching the Fund, Uganda’s East African community Minister Shem Bagaine has commended GroFin Funds for what he calls a good choice to extend their service to Uganda.
He has however urged them to extent the much needed service to the healing Burundi which he says will soon be a stable country.
The Fund has attracted investment from a range of development funders and investors including Shell Foundation (an independent charity), KfW Development Bank (KfW), the Dutch Good Growth Fund (DGGF) and Norfund. •
The GroFin SGB Fund seeks to provide business development assistance and finance to small and growing businesses that are currently under-served in Africa.
The Fund aims to catalyze sustainable job creation through supporting small and growing businesses in Ghana, Nigeria, Uganda, Zambia, Kenya, South Africa, Rwanda, Tanzania and Egypt. T
Over the next two years, with grant funding from the German government through KfW, GroFin plans to expand the Fund’s support to SGBs to three more African countries. Since 2004 GroFin has helped to sustain more than 18,000 jobs, provided business support to more than 8,000 SGBs, and invested in 600 business owners’ dreams.
GroFin Funds to Boos Small and Medium Enterprises.
