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GroFin, shortlisted for Finance for the Future Awards 2018

Posted By Shailen Neewoor, GroFin, Wednesday, August 29, 2018
Updated: Thursday, August 30, 2018
We are excited and proud to announce that GroFin has been nominated as a finalist for the ICAEW & Prince’s Accounting for Sustainability Project (A4S) - Finance for the Future Awards 2018 - in the 'Building Sustainable Financial Products' category.

GroFin was shortlisted in the Building Sustainable Financial Products, which recognises organisations that create sustainable business products that are financially sustainable.

GroFin entered this prestigious award to share the achievements of the GroFin Model – an integrated solution of finance and business support to small and growing businesses. The application of this model through the Small Growing Business (SGB) Fund has sustained over 37,000 jobs in Africa since its launch in 2014.

Guido Boysen, GroFin CEO, said: “We are thrilled to be a finalist in the Finance for the Future Awards. This achievement is thanks to the support of our investors, partners and staff. The nomination is an endorsement of our efforts to support and grow SMEs across our 11 countries of operations in Africa.”

Tags:  ANTHOS  Calvert Impact Capital  CDC  DFID  DGGF  FINFUND  FMO  International Finance Corporation  Mastercard Foundation  Omidyar Network  Open Society Foundations - Soros Economic Developm  Rockefeller Foundation  Shell Foundation  Skoll  Triple Jump  USAID 

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GroFin - Transforming SGBs in Africa & the Middle East

Posted By Shailen Neewoor, GroFin, Wednesday, June 13, 2018
Updated: Friday, June 15, 2018

Gain a deeper understanding of how GroFin, through its unique investment model in SGBs, is positively transforming small and growing businesses and the local communities they support. The inspiring success stories of its entrepreneurs exemplify the collaborative efforts of GroFin staff, investors, partners and clients. The 2017 GroFin Impact Report, Nomou Impact Report and Aspire Impact Report translates its faith in the power of the collective by asking the question “If not us, who? If not today, when? If not with our finance and support, how will these small businesses grow and succeed?”

2017 GroFin Impact Report

As at end 2017, GroFin has financed 675 small and growing businesses, supported 8,840 entrepreneurs, sustained a total of 86,190 jobs and touched the lives of 430,955 family members in the local communities across our 15 locations of operation in Africa and the Middle East. The report indicates that GroFin has made more investments in its priority sectors of education, healthcare, agribusiness, manufacturing and key services. Furthermore, GroFin invested US$ 60M in nearly 88 new small and growing businesses, with over 50% of the SMEs operating directly in our sectors of focus, sustaining 14,000 total jobs and supporting an additional 72,000 livelihoods. And to reinforce its value proposition of providing 'support beyond finance' the company introduced the GroFin STEP (Success through Effective Partnerships) Programme to support its SMEs and Entrepreneurs.

2017 Nomou Impact Report

The Nomou Programme is a regional initiative in MENA which was co-created by GroFin and Shell Foundation. As a result of the collaborative efforts of its investors, partners and clients, the Nomou programme is contributing to the alleviation of poverty and improvement of livelihoods in the communities where the programme operates, as well as striving to reduce the adverse impact of the humanitarian crisis in the region.

In 2017, the Nomou Programme supported 1,005 entrepreneurs, made investments into 103 SGBs, sustained a total of 10,287 jobs, touched the lives of 51,435 beneficiaries and added economic value of US$ 149 million per annum through its investee SMEs across Egypt, Jordan, Iraq and Oman.

2017 Aspire Impact Report

Since their inception in 2014, the Aspire Small Business Fund (ASBF) and the Aspire Growth Fund (AGF) have sought to promote local entrepreneurship, employment and economic value-add in the Niger Delta. With the Shell Petroleum Development Company of Nigeria Limited (SPDC) as anchor investor, the Aspire Enterprise Development Funds epitomise GroFin, a private development finance institution, and SPDC’s efforts to serve the local community with a combination of investment funds, business skills and market linkages.

In 2017 GroFin increased its commitment to supporting SMEs in the Niger Delta Region by investing in an additional 17 small and growing businesses and extending further funding of US$ 2.5M (140% increase from total amount invested as at end 2016). As at end of 2017, GroFin has supported 365 businesses, invested in 53 SMEs and sustained a total of 1,975 jobs under the Aspire Funds.

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Have got an innovative solution to make SME finance work for the missing middle? DGGF/SCBDFacility may help you kick start!

Posted By Julia Brethenoux, Triple Jump, Monday, December 7, 2015

The Dutch Good Growth Fund (DGGF)/Financing Local SME is a “fund of fund” investment initiative from the Dutch Ministry of Foreign Affairs that aims to improve financing for the “missing middle” i.e. entrepreneurs that have outgrown micro financing but do not yet have access to regular financial services.

To this aim, DGGF has a Seed Capital and Business Development (SCBD) facility that can support innovative early-stage finance actions reaching underserved SME markets with up to 1 million Euros. The SCBD facility is especially interested in innovative, sustainable and scalable proposals that address one or more of the interrelated fundamental challenges of SME finance, namely high information asymmetry; lack of collateral; high transaction costs; and limited deal flow/growth potential. Of particular interest to SCBD are nascent finance vehicles that make SME finance work for female entrepreneurs, young entrepreneurs and entrepreneurs in fragile states.

Curious about the first SCBD transaction making debt financing available to African health SMEs? More details are available here 

You have an innovative SME finance solution just starting? DGGF/SCBD Facility might be able to support your efforts! More details about the opportunity, including application and selection process are available in the enclosed one pager.

Twitter: Professionals eager to close the financing gap for the missing middle, follow @SCBDFacility

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Tags:  Access to Finance  DGGF  early stage ecosystem  Entrepreneurship  impact investing  impact investment  inclusive innovation  innovation  Private sector development  Women 

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