Print Page   |   Sign In   |   Register
Notes from the Network
Blog Home All Blogs

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.

 Attached Files:

Tags:  2017  A Access to Finance  Access to Finance  Africa  Agriculture  ANDE Africa  ANDE Members  Base of the Pyramid  Business  business training  capacity development  DGGF  East Africa  education  finance  impact  impact investing  impact investing; gender lens investing; gender; w  impact investment  impact measurement  innovation  Investors  Kenya  MENA  missing middle  Philanthropy; impact investing  Private sector development  Rwanda  SDGs  SGB  SGBs  SGBs; accelerators; East Africa  SGBs; Environment; accelerators; energy  SGBs; West Africa; Senegal; Africa; MENA; Entrepre  small and growing agrobusiness  smes  social impact  South Africa  sustainability  sustainable development  Tanzania  Training  Uganda  West Africa 

PermalinkComments (0)
 

MDIF closes $6-million media impact fund

Posted By Peter Whitehead, Media Development Investment Fund, Tuesday, March 20, 2018
New York, March 19, 2018: Media Development Investment Fund (MDIF) today announced final close of MDIF Media Finance I, a $6-million impact fund investing in independent news media in select emerging and frontier markets.

“We are delighted to have closed MMF I and ramp up financing for companies that provide the news, information and debate that people need to build open societies,” said Harlan Mandel, MDIF Chief Executive Officer. “MMF I loans will help build companies that expose corruption, hold governments to account and provide balanced coverage of elections.”

MMF I provides affordable debt to independent news companies in a range of countries where access to free and independent media is under threat. The fund will invest in companies in countries such as India, Ukraine, Bolivia and Lesotho.

MMF I notes pay 4% annual interest and, under a pioneering agreement with the Swedish International Development Cooperation Agency (Sida), MDIF and Sida provide investors with 55% first-loss protection. Sida also provides technical assistance grants to fund investees to build their management capacity.

MMF I investors include the Open Society Foundations (Soros Economic Development Fund), Dreilinden, a Dutch family office and Antonis Schwarz.

“MMF I will finance investments in software, equipment, content production, workspace, as well as working capital and short-term cash-flow needs – all vital for company growth,” said Mr. Mandel. “With the successful close of MMF I, we are now looking forward to launching MMF II later this year.”

About MDIF

MDIF is a New York-based not-for-profit investment fund for independent media in countries where independent media are under threat. It has 22 years’ experience of helping build quality news and information companies – print, digital and broadcast – in emerging markets. It has:

  • invested more than $166 million in 114 media companies
  • worked in 39 countries on 5 continents
  • a current portfolio of more than $60 million invested in over 50 media organizations

For more information, contact Peter Whitehead, MDIF Director of Communications, peterawhitehead@mdif.org, +44 7793050670.

Tags:  emerging markets  impact investing  impact investment  social business  social impact 

PermalinkComments (0)
 

Three Powerful Tools for Fintech Practitioners

Posted By Jane Del Ser, Bankable Frontier Associates, Tuesday, January 16, 2018
Updated: Wednesday, January 17, 2018

By David del Ser

(Watch our video)

Since we launched the Catalyst Fund in 2015, we have helped 15 fintech entrepreneurs deploy novel approaches to bring products and services to their customers. We have distilled the successful patterns and behaviors we have observed into toolkits and posts for those considering fintech methods for their businesses, whether they be startups or established players.


At a high level, successful fintech startups adopt principles of Design, Risk Management and Product Management, and also put modern technologies like smartphones, artificial intelligence and cloud computing at the core of their value propositions. At successful fintech startups Designers, Product Managers, CEOs and Engineers reinforce each other in multidisciplinary teams to explore the overlap between what customers find desirable, what engineers can build, and what the business requires to grow.

Design

The function of Design is to represent the voice of the customer at all times to make sure a company stays centered on what matters most. Design is not a one-off process. In the spirit of customer validation, designers keep tight feedback loops with customers throughout the product development process, from early prototypes to usability testing of new features.


Through user research (UX) techniques like online surveys and one-one-one interviews, designers invest heavily during initial stages in order to know their customers like the back of their hand; what are their problems and pain points, and how can their company help? In fact, designers segment customers into personas to allow the team to constantly keep in mind different user profiles and needs.


Aesthetics matter. Designers work hard to perfect a product’s UI and its look and feel, so it can live up to the high expectations created by WhatsApp or Google. But great design goes beyond just user research and visuals during early product design stages. Successful inclusive fintech startups map out the Customer Journey and Service Blueprint in detail to fully understand the perspective of the user each time they  interact with the company.


Ultimately, great design creates trust, that elusive quality that all startups are chasing and that distinguishes them from their competitors. We’ve captured our lessons for startups to build trust with their customers through their products or services in our Design for Trust Toolkit.


Product Management

But designers can’t work in isolation; they need someone to lead the orchestra - and that’s where a product manager comes in. The PM takes a big picture view and works to ensure that designers, engineers and marketers all work towards the same goal. Crucially, she makes sure the product or service goal is backed by data and evidence. She keeps the whole process nimble through quick agile iterations focused on the activities of users, from initial onboarding to the retention phase. For example, using A/B Testing and usage analytics she captures details of how each users is interacting with every screen to inform engagement.


The effective product manager is very focused on the key metrics for the business, such as customer lifetime value or acquisition costs. She also works hard to explore the best channels to find new customers, including viral referrals and social media. As an example, our portfolio company Destacame has seen lead acquisition costs dropping to less than $3 through these types of digital channels. We explore some of the different tools and frameworks to help startups focus as they chart their journey from idea, to minimum viable product (MVP) and growth in our upcoming product/market fit toolkit.

Modern Technologies

And finally, you can’t have good fintech without the “tech” that is enabling these new approaches.


Most important are the smartphones, which run fintech apps and also act as channels to find and interact with users. For instance, several of our startups use WhatsApp to offer customer support and drive virality, communicating with users in the way they prefer. Smartphones can also be used to generate and capture user data, which is particularly valuable when targeting low-income consumers who traditionally have been anonymous. In that vein, our portfolio company Smile Identity validates and authenticates customer identities using selfies taken on their phones.


In addition machine learning and other artificial intelligence systems can improve customer value propositions and to automate internal processes like credit scoring using data from smartphones and other new sources like satellites. As an example, our portfolio company ToGarantido is exploring chatbots for sales of their insurance policies and customer support. Harvesting is using satellite data to understand credit and insurance risk with just a GPS read. Worldcover doesn’t even need customers to file a claim as their satellite systems award them automatically.


And software engineering helped Escala and Paygo Energy to automate most of their back-office processes to be responsive to their customers. It is easier and more affordable than ever for startups to leverage affordable SaaS solutions to architect their systems. Likewise, cloud computing is also a powerful technology that offers simplicity, lower costs and flexibility. There is no need to commit capital to purchase hardware and the team requires less engineering talent to keep the servers going.

Conclusion

In our experience, companies that harness the powerful combination of design, product management and modern technologies create better and more tailored value propositions. That makes for happier customers, which is what makes businesses thrive. By driving more usage, the fintech triad can create more impact in low-income populations. And digital channels and automated processes can significantly lower costs of serving customers, allowing for expansion to new markets and reducing exclusion.


Learn more by joining us for our webinar on the Catalyst Fund toolkits during the ANDE Sector Update call in January. Register here.


Tags:  Acceleration  accelerator  accelerators  Africa  ANDE Africa  Base of the Pyramid  brazil  Business Models  capacity development  early stage ecosystem  emerging markets  entrepreneurship  finance  financial inclusion  fintech  Grants Rockefeller  impact investing  impact investment  inclusive innovation  India  India; ANDE members  innovation  Kenya  Latin America  mentoring  Mexico  SGBs; accelerators; East Africa  smaholder farmers  smes  social enterprise  social entrepreneurship  social innovation  webinar  West Africa 

PermalinkComments (0)
 

​Agora Partnerships Launches Application for 2017 Accelerator Cycle 2 Class

Posted By Elysa Neumann, Agora Partnerships, Thursday, March 9, 2017
https://www.youtube.com/watch?v=BKRdMGQbY_Q&feature=youtu.be

 
Agora Partnerships has launched applications for its 2017 Accelerator program.
 
Through its flagship Accelerator program, Agora Partnerships strives to accelerate the shift to a sustainable economy by providing entrepreneurs who are intentionally building businesses that solve social and environmental challenges in Latin America and the Caribbean with the resources they need to grow. Since 2011, 125 companies working in 19 countries in Latin America and the Caribbean have participated in the Agora Accelerator, raising USD $52MM in capital and creating over 5,000 jobs. This year, in solidarity with the United Nations’ Sustainable Development Goals (SDGs), Agora Partnerships is aligning our Accelerator tracks to advance the SDGs.
 
The Accelerator is a 4-month program designed to provide high-potential entrepreneurs with the knowledge, network and access to capital necessary to create system change, through in-depth, personalized, 1:1 consulting; access to the Agora Partnerships’network of mentors, investors, and capital opportunities; and a global community of peers.
 
Agora’s Accelerator program is designed for companies who are solving social and environmental challenges in Latin America and the Caribbean, matching the following criteria: 
 
  • early or growth stage, past proof-of-concept; 
  • currently looking for investment to scale; 
  • legally incorporated as a for-profit structure with basic accounting systems in place; 
  • average annual income of USD $50K to $2MM; and, 
  • with a clear, measurable and sustainable impact.
 
Agora Partnerships looks to work with entrepreneurs who embody the leadership qualities of agency, empathy, curiosity and perseverance.
 
To apply to Agora Partnerships’ 2017 Accelerator click here.
 
###
 
Agora Partnerships is a network committed to leveling the playing field for entrepreneurs by finding innovative ways to drive more human, social, and financial capital to the leaders and ideas that will make our world a better place. To learn morevisit: AgoraPartnerships.org

Tags:  Acceleration  accelerators  Agriculture  Business  Caribbean  central america  energy  Entrepreneurship  Environment  impact  impact investing  impact investment  innovation  Latin America  nicaragua  SGBs; Environment; accelerators; energy  small and growing agrobusiness  social ent  social enterprise  social entrepreneurship  social impact  sustainability  talent  Women 

PermalinkComments (0)
 

Presenting the report Moving the Needle: Critical Success Factors for Scaling Asset Finance

Posted By Paula Rodriguez, InspiraFarms, Monday, October 17, 2016

A new report by Epven, with support from the Shell Foundation and the Small Foundation, explores the challenges and emerging solutions to scaling asset finance options for small and growing agribusinesses (SGBs) in developing countries.

 The investment opportunity in agribusiness assets in emerging economies runs into the billions of dollars. The social and environmental benefits that can be gained by reducing food losses, increasing employment and enterprise sustainability, as well as empowering women and rural communities, are equally significant.

 Despite this opportunity, most small-scale agribusinesses in developing countries lack access to reasonable financing options for acquiring such assets, falling into the “missing middle” and facing a combination of unrealistically high collateral requirements and unaffordable interest rates. It s estimated that formal financial institutions meet less than a sixth of the $200 billion in demand for financing from smallholder agribusiness globally.

 Asset financing is one form of finance that is quickly emerging as a promising new model with a growing number of providers diversifying into the sector. The report Moving the Needle: Critical Success Factors for Scaling Asset Finance examines the potential of asset finance to reverse this financing gap. Reflecting the first-hand experiences, innovations and perspectives of over 70 asset finance experts in Kenya, Guatemala, and India—the “coal-face” of the industry—the report highlights four critical success factors that drive scale in asset finance:  

1.     The asset must be liquid to act as its own collateral. There must be a market for the asset, and resale value must be measureable.

2.     SGBs must demonstrate their capability to effectively utilize the asset. The use of cash flows is recommended for the calculation of financial viability and creditworthiness.

3.     SGBs must have a stable and secure market for the expected outputs of the asset. Having secure contracts from buyers in the agricultural sector is a positive incentive for financial institutions and for securing a stable stream of revenues for SGB’s.

4.     Network organizations like ANDE, the GIIN and the Sustainable Food Lab support more and better ecosystem collaboration between technology companies, financial service providers and producers and buyers along the agricultural value chain.

The report summarizes key roles for the main actors of the asset finance ecosystem, followed by detailed recommendations for capacity developers, 2nd tier investors, donors, DFIs and foundations, technology companies, and the financial service providers at the coal face.

 

To read and download this report by Epven, with support from the Shell Foundation and the Small Foundation, please visit http://www.inspirafarms.com/articles-publications/

TITLE: Moving the Needle: Critical Success Factors for Scaling Asset Finance

Authors: Tim Chambers and Jack Luft

Contact Person: Tim Chambers (tchambers@epven.com)

 

 

 

Tags:  Access to Finance  Agriculture  ANDE Members  asset finance  farming  impact investing  impact investment  inclusive business  innovation  Investors  microfinance  post-harvest  small and growing agrobusiness  value addition 

PermalinkComments (0)
 

TA Finance for SGBs - a scarce good down the road?

Posted By Pedro Eikelenboom, PUM Netherlands senior experts, Wednesday, September 21, 2016

Some perspective...once upon a time...

Picture yourself at a roundtable session with the topic ‘financial   instruments to support private sector development – how can business and non-profit collaborate’.  Guest speakers include a representative from a development bank, a public enterprise development agency, a non-profit and an enterprise

It reads like one of the many 'powwows' on the topic, though the invitation to this event has long but expired - it took place in October 2005 in Amsterdam, the Netherlands….


The impact investment eco-system

Fast-tracking time to 2016, there’s a new world created around impact investing. It has grown into an enormous market place for innovative financial (and non-financial) products and instruments. Where investors and prospects meet up, advised by consultants, think tanks, investment networks and so forth.

Many type of impact investors have entered the market, from banks, pension funds, wealth managers, family foundations, governments, development finance institutions and NGO’s. Hereby gradually expanding their investment portfolio into high-risk sectors like agriculture, in challenging countries, and targeting enterprises with ticket-sizes between US$ 100k – 500k.

It’s a shift (change in strategy) by some investors, with many key players shifting their ‘grant funds’ to a ‘return on investment’ portfolio. Is the eco-system creating a scarce good out of grants (in most cases being technical assistance / knowledge sharing) directed to support capacity development within enterprises? 

The true price of grants

Impact investing cannot only be about moving investment capital to riskier endeavors. It’s a combination of capital investments and non-reimbursable investments (the so-called grants). And the latter being a crucial factor in supporting the public good impact through technical assistance or capacity building trajectories for the beneficiaries. Neither is it a combination of 90-10, where grants serve as a bit of technical assistance on the side.

Reaching the enterprises that have growth potential but limited access to finance, means taking risk (call it technical assistance, capacity-building, non-reimbursable grants, first loss, equity stake, if you like) through a structured deal proposal between the impact investor, (perhaps) a development bank, an NGO, a technical service provider and so forth.

Several studies have stated that there is sufficient capital in the world to invest in small and medium sized enterprises (the ‘missing-middle’), in volatile sectors and in frontier markets. So money is not the issue – though the non-reimbursable investments are unfortunately becoming a scarce good due to policy changes within the public and non-profit sector.

However, beyond the non-profit community, grants are often perceived as ‘little strings-attached subsidies’, which require no financial returns. Of course, non-financial impact (social, environment etc.) is sought, though it’s based on expectations (outputs, outcomes). If one fails to reach the objectives, basically there’s not much harm done, it is - in the end - a grant.

How can we change this mindset? Grants do have a ‘price-tag’, value or leverage when dealing with blended finance. I’m sure, many investment deals in frontier markets would and will not happen without some flow of subsidies structured in the deal. Surely not advocating that grants should have a ROI too – next to non-monetary impact (social, environmental) -, but we should not take for granted the indirect value or direct leverage a subsidy has in the impact investment space. What can grant providers request or negotiate more in return for their contribution? Elements such as securing a seat at the board table of an investee (steer company’s public good objectives), or commit private grant funding to the related capacity-building program of an investment.  

Transferring skills & knowledge to secure ROI

Potential investment prospects (enterprises) may have fragile balance sheets, weak governance or inefficient processes. For that reason they are often initially overlooked by investors. As the impact investment marketplace is moving towards the ‘high-hanging fruit enterprises’, the power of knowledge becomes even more visible. Short-term technical assistance (related to entrepreneurship development) can strengthen an enterprise, making it robust and subsequently ‘de-risk’ its profile to potential investors.

In the case for professional volunteer service organizations (i.e. PUM, IESC, ACDI/VOCA, SES etc.) – its transfer of knowledge is as crucial as the committed capital investment to enterprises. Next to that, these organizations have a wealth of data, network and track-record in advising enterprises around the globe.

In the access to finance space for entrepreneurs, professional volunteer service organizations can play a critical role in strengthening the business competences of enterprises.

The lack of available (and/or affordable) local network of skills and experiences, that can contribute to the range of challenges an entrepreneur faces, is the gap where professional volunteer service organizations can offer qualified, experienced volunteer professionals to donate their time in transferring knowledge with entrepreneurs around the world. 

A structured approach

A structured approach on enabling enterprises in frontier markets to grow is essential and contributes into embracing entrepreneurs beyond the ‘usual suspects’. Collaboration through acknowledging and applying each other’s strengths is the way forward in achieving a sustainable return and impact through investment. And not to forget the role of governments and multilateral institutions in continuing - or at least not further reducing - ODA funded enterprise development programs. Of course, few would disagree with this conclusion, though the eco-system unfortunately exhibits far too few cases to proof otherwise.

For more insights on the role and added value of professional volunteer service organizations like PUM can have in strengthening SBG's as to de-risking their profile to impact investors, download the enclosed (full) article. 

 Attached Files:

Tags:  accelerators  Access to Finance  Business  capacity development  Capital Aggregation  early stage ecosystem  emerging markets  entrepreneurship  entrepreneurship ecosystems  impact investing  impact investment  inclusive business  Investors  partnership  Pioneering Capital  Private sector development  social business  social entrepreneurship  social impact 

PermalinkComments (1)
 

CrossBoundary Energy Fund I raises $8M - First dedicated fund for C&I solar in Africa

Posted By CrossBoundary, Monday, December 7, 2015

CrossBoundary Energy today announced the first close of CrossBoundary Energy Fund I, Africa’s first dedicated fund for Commercial & Industrial solar. Over the next 18 months, the fund will deploy over $25M to build solar facilities to power African enterprises through the SolarAfrica platform.

Due to a dramatic fall in cost, solar is now a viable alternative energy source for businesses in Africa. But it needs finance to be attractive.

Across Africa, economic growth is stifled by expensive and unreliable electricity. This challenge represents an immense opportunity for investment. Matt Tilleard, co-Managing Partner of CrossBoundary observed, “Africa is undergoing an energy revolution and has become a laboratory for pioneering new methods of energy delivery. A key driver of this has been the dramatic fall in cost of solar power – down by over 80% since 2008. Solar is now often cheaper than the grid in a majority of African countries”

Jake Cusack, co-Managing Partner at CrossBoundary, noted that “For many of the businesses that drive Africa’s growth, solar power is now an alternative source of cheaper and cleaner energy. However adoption remains low due to two barriers. First, solar has a substantial upfront cost. Without financing, solar installers are typically only able to offer upfront purchase of the solar system.  This means that the customer has to pay the full cost of 25 years of electricity on the first day. Second, many customers are unfamiliar with solar and reluctant to take responsibility for the technical and operational details of the system.”

Mr Tilleard said, “In markets such as the US, both these barriers were removed through the introduction of financed solar solutions. Instead of paying upfront, the financier builds the solar asset and the customer enters into a long term Power Purchase Agreement (PPA). With today’s announcement, we are bringing the same financed solar solutions to Africa. Financing is now available to make cheaper, cleaner energy a reality for African enterprise.”

Empowering project developers through the SolarAfrica platform

CrossBoundary Energy will deploy its investment capital through SolarAfrica, a platform that provides solar installers a fully financed ‘PPA in a box’ to offer customers. SolarAfrica brings together CrossBoundary Energy’s financing with technical oversight and asset management services from NVI Energy. Through SolarAfrica, CrossBoundary Energy allows solar installers to offer Power Purchase Agreements (PPAs) to African firms – enabling them to pay for the solar assets over time, just as they would pay for grid electricity or diesel fuel.

Mr Tilleard said “SolarAfrica already has a strong network of partners and we are actively looking for new installers or developers who are interested in offering a financed solar solution to their potential customers. We are currently in operation in Kenya and are hoping to expand to up to three additional countries in the next three to six months. Our funding is available for solar projects above 100 kWp that serve commercial and industrial customers.”

A ground-breaking transaction

CrossBoundary Energy has raised US$8m in equity to provide solar power for African enterprises. After debt leverage, CrossBoundary Energy Fund I intends to invest a total of over US$25m in solar assets over the next 18 months.

Mr Cusack observed, “The fund is a unique and innovative financing platform that will pioneer an entire new asset class in Africa. It is backed by a prestigious group of investors from the USA and Australia attracted both by the commercial returns and the opportunity for positive environmental and economic impact.” Investors include Blue Haven Initiative, TreeHouse Investments and Ceniarth.

Power Africa has been a crucial supporter of CrossBoundary Energy. Through Power Africa, the Overseas Private Investment Corporation (OPIC) provided an early-stage grant to support establishment costs and the United States Agency for International Development (USAID) provided a $1.3M first-loss contribution to the fund. Mr Tilleard noted that this “was a groundbreaking innovation by USAID that helped attract private investors to this opportunity.”

In addition, the Shell Foundation, an independent charity, has also provided grant funding and business support to accelerate CrossBoundary's expansion into markets outside of Kenya and lay the groundwork for follow-on funds.

The transaction was led by Chadbourne & Parke LLP with local counsel support from the Africa Legal Network and Viva Africa. Ikenna Emehelu, a partner at Chadbourne said: "We helped solar companies create a market for distributed energy in the US.  We have seen that mass-market adoption of renewable energy occurs not when technology becomes available, but when it becomes affordable. By pooling institutional capital to finance upfront installation costs of solar systems, CrossBoundary has made solar affordable for the malls, hotels, schools and small businesses it serves in Africa.  Chadbourne congratulates the CrossBoundary team whose tenacity and vision has unlocked a promising new market in Africa."

CrossBoundary Energy’s first investment pioneers new ground in East Africa

At fund close CrossBoundary Energy also announced that its first major investment is an 858 kWp solar installation at the newly opened Garden City Mall in Nairobi. Mr Tilleard announced “It is the largest rooftop solar system in East Africa and the largest solar carport system in Africa. It is also the largest solar PPA that we are aware of with a private consumer in Sub-Saharan Africa.   This is an exciting first step on CrossBoundary Energy and SolarAfrica’s mission to introduce solar-as-service to African enterprises.”

Conclusion

Providing clean energy for African businesses represents a major commercial and environmental opportunity. The development of innovative energy financing and business models in Africa means the continent could have smarter, cleaner and more decentralized electricity infrastructure than developed countries. Mr Cusack noted that “Through the first dedicated fund for Commercial & Industrial solar, CrossBoundary Energy hopes to help Africa take a clean path to development through a transition to improved infrastructure and increased economic productivity with minimized environmental impact.”

---

About CrossBoundary

CrossBoundary is an innovative investment firm that provides transaction and economic advisory services to help unlock capital for positive change in underserved markets. The firm was founded in 2011 and has worked across a range of frontier markets and also developed innovative mechanisms to attract investment in fragile states affected by conflict such as Afghanistan and Mali. Recently, the firm has launched CrossBoundary Energy, the first dedicated investment fund for commercial and industrial solar in Africa. 

 

Tags:  africa  Business Models  Capital Aggregation  East Africa  energy  finance  Financing Mechanisms  impact investing  impact investment  Investors  Kenya  Private sector development  sustainability  sustainable energy 

PermalinkComments (0)
 

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

Download File (PDF)

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

PermalinkComments (0)
 

Food for Thought - Made in Africa for Africa

Posted By Irmgard Jansen, BoP Innovation Center, Tuesday, September 22, 2015

On the 27th of October 2SCALE organizes the ‘Food for Thought: Made in Africa, for Africa!’ conference in the New World Campus in The Hague, to get a better understanding of what makes African agri-business tick and what makes partnerships succeed. We invited CEOs of seven African companies to share their experience with us; from the start of their business venture
to their growth and success of today, and the challenges they faced along the way. What does it take for an African farmer or entrepreneur to contribute to food security and better livelihoods? And how can African and Dutch entrepreneurs build strong partnerships to develop the agricultural sector in Africa? We have also invited agri and food experts who will comment on why some businesses succeed while others fail.

African economies are rising, and so are their agri-food industries. Still, access to food remains a challenge for most consumer segments. Greater market participation by small-scale local entrepreneurs will boost food security and agriculture-based trade in Africa. Market expansion will also give farmers the incentive to invest in productivity enhancing technologies. 2SCALE builds
partnerships for agri-business and helps to create new businesses and expand existing ones. From the smallholder farmer producing tomatoes for the local market to the young ambitious entrepreneur or the Dutch company looking for local partners to strengthen their position. Generally, farming is not being perceived of as professional business, whereas programs like 2SCALE reveal that farming can be (and should be seen as) serious business that contributes to food security.

2SCALE covers 9 countries (Benin, Ethiopia, Ghana, Kenya, Mali, Mozambique, Nigeria, South Sudan and Uganda) and a number of product groups that can make a difference – bringing prosperity to small-scale farmers, emerging enterprises and Base of the Pyramid consumers. This implies for example the inclusion of women and the younger generations, and the empowerment of
smallholder farmers. Furthermore, 2SCALE creates networks that provide market opportunities, technologies, training, business support, credit and insurance - all the elements needed for profitable, sustainable business. Halfway through the five-year project the impact is clearly visible:

  • 50 well-established public-private partnerships are active and created new businesses and business activities
  • More than 1,600 companies are buying produce from, selling agricultural inputs to, or providing services to small scale farmers;
  • More than 265,000 smallholder farmers have improved crop yields, income and family nutrition. Over 30% of these farmers are women;
  • 24 pilot programs are now operational, increasing access to low cost nutritious food for BoP consumers; and
  • 20 learning and coaching programs for local-level networking and capacity strengthening are being implemented.  

Contact: To learn more about the conference, please check the 2SCALE website (http://2scale.org/event/2scale-business-event) or contact Irmgard Jansen (jansen@bopinc.org or +31 (0) 30 2305 915).


2SCALE was launched in 2012 and is an initiative of the International Fertilizer Development Center, the International Centre for development oriented Research in Agriculture and BoP Innovation Center. The project is funded by the Dutch Ministry of Foreign Affairs.

Download File (PDF)

Tags:  Access to Finance  africa  Agriculture  Business  East Africa  Entrepreneurship  entrepreneurship ecosystems  gender  impact investment  Scale  West Africa  Women  Youth 

PermalinkComments (0)
 

Announcing DIV:LIVE - A Social Enterprise Competition on August 26

Posted By Kristen Gendron, U.S. Agency for International Development, Wednesday, June 17, 2015

Spread the world to innovators and entrepreneurs! USAID's DIV program and partners are hosting a live pitch competition on August 26th in Amman, Jordan. 

The competition, DIV:LIVE, seeks innovations in the Middle East that aim to solve the world’s most intractable development challenges through demonstrated impact and cost-effectiveness. Innovators selected for the final stages through the DIV competition will pitch their development solution at the DIV:LIVE event to be considered for a grant ranging from $100K to $1,500,000+ USD. 

Learn more here and help us spread the word with the tools below.


Our target audience

We are hoping to get the word out to start-ups, social entrepreneurs, traditional entrepreneurs, and even NGOs and public sector-focused groups who can apply to the competition (winning seed funding of ~100K and scaling funding up to 15M), as well as other investors or stakeholders who might want to get involved. We are hoping to increase awareness/applications in MENA specifically, but are open to all applicants who would be willing to travel to the finals in Amman.

DIV:LIVE overview text for sharing

DIV and the USAID's Jordan Competitiveness Program are co-hosting a live pitch competition called DIV:LIVE on August 26th in Amman, Jordan. This pitch competition is open to any country, but we are specifically outreaching to potential applicants in the Middle East and North Africa region. Selected innovators will pitch their development solution to be considered for a grant ranging from $100K to $1,500,000+ USD. This event will include a live audience with other potential investors and relevant stakeholders. Any interested organization - nonprofit, for-profit, or university - can apply. Ultimately, we are seeking innovations that aims to solve the world’s most intractable development challenges through demonstrated impact and cost-effectiveness

Tweets 

One-pager

Attached

 

Download File (PDF)

Tags:  Access to Finance  ANDE Members  Entrepreneurship  High-Growth Entrepreneurship  impact investing  impact investment  innovation  Investors  MENA  Philanthropy; impact investing  social business  social enterprise  Social Entrepreneurship 

PermalinkComments (0)
 
Page 1 of 2
1  |  2