GroFin is a pioneering private development finance institution specialising in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East by combining medium term loan capital and value-added business support.
GroFin was established in 2004 with the objective of providing a unique solution of finance and support to SMEs in the missing middle. Their sole purpose is to sustain jobs and create impact in local communities through the development of a scalable, replicable and sustainable model for the SGB segment.
By generating employment, strengthening value chains and building markets, their investments bring about inclusive economic growth and improved living conditions in the low and middle income countries where we operate.
GroFin is a leading multi-national financier and advisor to small and medium enterprises (SMEs). As growth finance experts since 2004, it invests in the future value and potential of entrepreneurs who own businesses at any stage of development (from start-up through growth to expansions).
GroFin is a specialist finance company that serves the needs of businesses. Finance solution includes business development assistance that makes them a ‘one-stop-shop’ for committed entrepreneurs with viable business ideas – from start-ups, through all the phases of business growth, up to and including established businesses that need up to a $1 million in finance. GroFin enhance the probability of success for entrepreneurs through the provision of appropriate finance and business development assistance.
As a trusted partner with more than 30 international development finance institutions, development organisations and other private funders, it has raised cumulative funds worth US$ 500M towards the ten funds and programmes managed by GroFin. Since its inception in 2004, it has invested in 675 SMEs and sustained 86,190 jobs across a wide spectrum of business activities within 14 countries in Africa and Middle East with their headquarters in Mauritius.
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 – helps them to contribute significantly towards the attainment of the SDGs in our countries of operation.
Clients are offered:
- A FINANCIAL INVESTMENT to increase and expand on your business property in the form of building renovations, assets, equipment, furniture and even staffing.
- HELP YOUR BUSINESS grow from where it is, or help you start your business from the ground up.
- BUY AN EXISTING business and help you start taking over their process in your own unique way.
GroFin provides clients with a loan offer that is in line with their affordability and credibility, and offer suitable repayment terms. The average investment periods range from between three to eight years, depending on the business you are going into or currently have.
Sectors GroFin focuses on
GroFin is open to funding SMEs across sectors on the understanding that consumers at the base of the pyramid need access to a complete range of goods and services, however, the company focuses on SGBs operating in education, healthcare, agri-business, manufacturing and key services (water, energy and sanitation). GroFin targets these vital needs sectors because of the impact these businesses have in directly working towards the SDGs and thus their capacity to alleviate poverty.
GroFin’s dual approach of finance and business support gives high-impact SGBs the tools they need to succeed and maximise their contribution to the community.
Qualifying Businesses for GroFin finance
1. The business should be in one of our sectors of focus:Education, Healthcare, Agribusiness, Manufacturing, or Key Services (Energy/ Waste / Water / Recycling) are the main sectors where we finance and support SMEs. However, we also opportunistically consider businesses from other sectors.
2. The business operates in a country where GroFin have an office:
South Africa, Zambia, Nigeria, Ghana, Ivory Coast, Senegal, Uganda, Tanzania, Kenya, Rwanda, Egypt, Iraq, Jordan or Oman.
3. The business needs a medium term loan capital between:
US$100k and US$1.5M.
4. The business must be making a positive social impact:
Creating Jobs, Empowering Women, Benefiting the Environment.
At DTC we understand the complexities of the various funding agencies and the unique application criteria for each. We have assisted thousands of entrepreneurs through the application process to access funding for businesses, and we can assist you with the same.
Contact us for more information on funding through GroFin.