|Application procedure:||Online Application|
|Eligible applicants:||Social Business|
|Grant size:||Large - more than $1,000,000|
|Minimum grant size:||100.000$|
|Total available budget:||-|
|Maximum grant size:||1.500.000$|
|Funding ratio:||Co-funding required|
- Agriculture & Rural Development
- Economic Development
- Environment & Natural Resources
- Research, Technology & Innovation
Egypt, Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania, Uganda, Zambia
Iraq, Jordan, Oman
GroFin is a pioneering development financier specializing in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East. Their ultimate objective is to deliver an efficient and effective integrated solution of finance and support to base-of-the-pyramid SMEs and to transform them into formalised and sustainable businesses that support employment and thus create lasting impact. GroFin’s goals are well aligned with the United Nation’s Sustainable Development Goals (SDG), especially SDG 8 (‘Decent Work and Economic Growth’).
As such, their activities – such as providing access to finance, extending non-financial support (‘business support services’), developing entrepreneurship, starting and growing formalised SMEs, and creating sustainable jobs – help us to contribute significantly towards the attainment of the SDGs in our countries of operation. The business operates in one of the investment focus sectors of Education, Healthcare, Agri-processing, Manufacturing, Energy, Water/Sanitation and labour-intensive businesses. Other sectors can be considered on a case-by-case basis.
They work with hands-on entrepreneurs of locally managed formal or informal businesses in a variety of sectors including health, education, energy, wholesale, and manufacturing or key services (energy/waste /water /recycling).
Actions must take place in South Africa, Zambia, Nigeria, Ghana, Ivory Coast, Senegal, Uganda, Tanzania, Kenya, Rwanda, Egypt, Iraq, Jordan and Oman.
The Fund provides loans between $100,000 and $1,500,000. Duration of finance is typically, 3-8 years.
Interested social businesses can complete an online assessment anytime throughout the year. Investment managers then check the information. During this process, the applicant receives an accurate assessment of the current business position. Once the application and business plan are complete, they send the package to a finance committee for review.