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Overview
| Donor: | GroFin |
| Application procedure: | Online Application |
| Donor base: | Mauritius |
| Reference number: | - |
| Eligible applicants: | Social Business |
| Deadline: | ongoing |
Financial details
| Grant size: | Large - more than $1,000,000 |
| Minimum grant size: | 100.000$ |
| Total available budget: | - |
| Funding type: | Loans |
| Maximum grant size: | 1.500.000$ |
| Funding ratio: | Co-funding required |
Sectors
- Agriculture & Rural Development
- Economic Development
- Education
- Energy
- Environment & Natural Resources
- Other
- Research, Technology & Innovation
Project Locations
Africa
Egypt, Ghana, Kenya, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia
Asia
Iraq, Jordan, Oman
Description
1) Objective
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.
2) Eligibility
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).
3) Location
Actions must take place in Kenya, Uganda, Tanzania, Rwanda, Ghana, Nigeria, Ivory Coast, Senegal, South Africa, Zambia, Egypt, Oman, Iraq and Jordan.
4) Budget
The Fund provides loans between $100,000 and $1,500,000. Duration of finance is typically, 3-8 years.
5) Application
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.