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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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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 

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AXiiS is closing the gap with 6 billion (USD) in assets under management ready for SMEs to access finance Today!

Posted By FAST International, Finance Alliance for Sustainable Trade, Wednesday, April 12, 2017
Updated: Thursday, April 13, 2017
https://youtu.be/I4QvUzUwkxQ

About AXiiS:

Unique in its industry, Access and eXchange impact investment for Sustainability (AXiiS), is populated with local Financial Advisors based on their grounded work in the field with agriculture and forestry SMEs in Africa, Latin America and the Caribbean, ensuring sustainable investment ready cases.

Selected SMEs are profiled based on criteria ensuring their investment-readiness, while collecting relevant data on investment in agriculture and forestry sectors. It showcases blind profiles of SMEs and Financial Service Providers to ensure security and to enhance the matchmaking process.

To join or find out more, visit: www.axiis.ca

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Tags:  A Access to Finance  apps4africa  asset finance  banking  capacity development  climate resilience  emerging markets  Environment  environmental impact  finance  Global. Development  India; ANDE members  Investors  Latin America  news  nicaragua  Performance Measurement  Rwanda  Scale  SDGs  SGBs; accelerators; East Africa  SGBs; Environment; accelerators; energy  smaholder farmers  small and growing agrobusiness  smallholder farmers  smes  social impact  supply chain  sustainability  sustainable development  Tanzania  Uganda 

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​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.
 
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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 

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Bringing Food Safe Technology in Guatemala: Fair-Fruit & InspiraFarms

Posted By Paula Rodriguez, InspiraFarms, Tuesday, February 21, 2017
Updated: Tuesday, February 21, 2017

Guatemala is now positioned as the world’s third-largest exporter of peas, and indigenous farmers living in the highlands produce 99 percent of these peas.

Guatemala’s participation in the global fresh vegetables and fruits market has required a rapid technological adaptation to changes in food safety requirements. When implemented, these technological adaptations ensure access to high-value and regulated markets such as USA and the EU.

The lack of availability of this kind of technology, such as food-safe cold storage, bulking and processing spaces, has become one of the major limiting factors in the competitiveness of smallholder farmers in export supply chains.

Small and growing agri-food companies and exporters have played an important role in facilitating the compliance of food-safe and quality certification standards of the smallholder production base. This is true in the case of Fair-Fruit, a Guatemalan company, who specialize in fresh fruit and vegetables destined for European markets.

In the past Fair-Fruit had been collecting all their produce from Salamá and transporting it to its main plant in Ciudad Vieja (Sacatepeqez) for processing, a six-hour trip which often resulted in produce spoiling and a loss of revenue.

In 2015 Fair-Fruit decided to place an InspiraFarms satellite Cold Storage and Food Processing Facility (an FP180) at their production site in Salamá. Fair-Fruit hoped to reduce produce spoilage and dehydration due to long distance transportation, as well as save money on their overall processing and transportation costs as their motivation for installing the FP180 at their production site.

According to Miguel Basterrechea at Fair-Fruit, “For many years we’ve budgeted 30% in quality and dehydration carrying the product for such long distances. Cooling down the product and working on quality close to harvest fields can reduce these losses in between 10% and 15%. With around 2,000,000 pounds harvested in a year we are talking of 240,000 more pounds per year, and at a US$0.73 per pound, this generates a net total of US$175,000 per year”.

 

To know more about InspiraFarms visit us at www.inspirafarms.com

You can know more about Fair-Fruit here

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Tags:  Agriculture  central america  Guatemala  inclusive innovation  postharvest technology  small and growing agrobusiness 

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Kigali Farms & !nspiraFarms partnered to bring the first solar powered cold storage plant to Rwanda

Posted By Paula Rodriguez, InspiraFarms, Tuesday, December 13, 2016
Updated: Tuesday, December 13, 2016

Worldwide the mushroom industry is valued at US$20 billion, and in Rwanda the national government has been promoting the cultivation of mushrooms both for their economic potential and nutritional value.

Laurent Demuynck, CEO and Founder of Kigali Farms in Rwanda, started the social enterprise in 2010 with the twin goals of massively improving nutrition in rural areas and supplying high value produce to urban markets, domestically and as exports to the East African Community and beyond.

Says Demuynck,“our new button mushroom facility positions us to be the leading mushroom supplier in East Africa, with quite possibly the best button mushrooms produced anywhere in Africa. At the same time, our Kigali Farms team is driven to make oyster mushrooms the cheapest and easiest to grow source of protein for thousands, even hundreds of thousands, of smallholder farmers. Africa produces three times less commercial mushrooms than Australia, and we want to change that”.

The company started by producing and selling oyster mushroom growing kits for farmers and more recently using locally sourced wheat straw to grow fresh button mushrooms, which provide attractive margins in international markets. Kigali Farms has also begun to move further up the value chain, producing mushroom powder, which is used to fortify food products, and developing various packaged products, such as soups and sauces.

In 2015, Kigali Farms partnered with !nspiraFarms® and PSDAg* to bring the first solar powered cold storage plant to Rwanda as a cost-effective, reliable and low-carbon method to reduce post-harvest losses, maintain high quality and increase shelf-life of the mushrooms.

As Kigali Farms grows, it is engaging an increasingly large community of smallholder farmers. It provides its farmers with a combination of education and capacity development in conjunction with supplier contracts. With the capacity to process in excess of 250 metric tons of mushrooms per year and annually produce upwards of 300 ton of oyster mushroom growing kits, Kigali Farms continues to extend its outreach to local farmers across Rwanda.

To know more about Kigali Farms: http://www.kigalifarms.com/

To know more about !nspiraFarms: http://www.inspirafarms.com/

 

*The Rwanda Private Sector Driven Agriculture Growth (PSDAG) is a 5-Year project funded by USAID

 

Tags:  Agriculture  small and growing agrobusiness  smallholder farmers 

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Asset Finance: An Opportunity for Small & Growing Agribusinesses

Posted By Paula Rodriguez, InspiraFarms, Tuesday, December 13, 2016

Asset Finance: An Opportunity for Small & Growing Agribusinesses 

Asset financing has emerged as a promising new model for agricultural finance attracting a growing number of investors to the sector. However, small agribusinesses in developing countries still face significant challenges accessing investment capital, including unrealistically high collateral requirements and unaffordable interest rates. With traditional financial institutions providing less than a sixth of the $200 billion required to fund smallholder agribusiness globally, how can small agribusinesses ensure they are best positioned to attract investment and financing? Moving the Needle: Critical Success Factors for Scaling Asset Finance outlines the factors critical for success. To access the full report developed by !nspiraFarms - http://www.inspirafarms.com/articles-publications/

Tags:  Access to Finance  finance  smaholder farmers  small and growing agrobusiness 

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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 

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