The international organization specializing in the financing and development of SMEs, GroFin, has launched a $ 100 million investment fund for small businesses in Africa. The goal is to finance more than 9,800 entrepreneurs and help create about 47,000 sustainable jobs by 2020.
The fund is co-founded by GroFin, the Shell Foundation, the German Development Bank KFW, the Norwegian Investment Fund Norfund and the Dutch government with an initial commitment of $ 100 million which is expected to increase to $ 150 million within two years. years. This project is a continuation of the GroFin Africa fund launched in 2009 with a fund of 170 million dollars.
At the launch of this program, CEO of the GroFin group Jurie Willemse said that the purpose of this fund is to help SMEs access finance. “This fund is important for the economic growth of African countries, where there is a growth in the number of SMEs. But banks find it difficult to trust these kinds of businesses because their success cannot be guaranteed, “he said.
Read on: http://www.afriqueitnews.com/2015/09/28/grofin-lance-fonds-de-100-millions-accompagner-startups-africaines