Signature(s)
Summary sheet
GroFin Africa Fund (GAF) is a target USD 150 million closed-end private equity fund providing loans and equity products, as well as business support to small businesses in various African countries. GroFin Capital contributes USD 10 million in cofinancing.
The Fund’s objective is to provide financing and business support to the “missing middle”, i.e. SMEs that lack access to commercial bank funding, are too large for microfinance institutions, and are outside the purview of private equity funds. GroFin uses the term “growth finance” to describe the sector in which it operates. The Fund’s operatations are targeted to the following countries: Kenya, Tanzania, Uganda, Rwanda, Nigeria, Ghana and South Africa.
Environmental analysis accourding to guidelines acceptable to the Bank will be part of the Fund’s due diligence process in the appraisal of investee companies.
Not applicable.
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