GroFin business funding operates as a specialist financier with a strong impact-driven approach. As a private equity fund, GroFin provides loans, equity products, and business support to small businesses across several African countries. In addition, the organisation focuses on supporting entrepreneurs who demonstrate strong potential for growth.
Furthermore, GroFin helps entrepreneurs succeed by offering expert advice, continuous guidance, and financing that supports business expansion. Through this integrated support model, businesses gain both the capital and strategic direction required to grow sustainably.
Most importantly, GroFin strongly believes that the growth of small businesses plays a critical role in economic development. Consequently, by supporting entrepreneurs and helping them expand their operations, GroFin contributes to sustainable job creation and improved livelihoods across African communities.
Since its onset in 2004, GroFin has invested in 768 SMEs and sustained nearly 77,960 jobs. With their headquarters located in Mauritius, we they offer financing and support to SGBs in 14 countries in Africa and the Middle East. GroFin focuses on small businesses operating in education, healthcare, agri-processing, manufacturing and key service sectors (water, energy, and sanitation).
GroFin’s business model is based on their commitment to providing clients with support that surpasses finance. A deep understanding of the factors that drive SME success is central to this model, as is the steadfast belief that SME success leads to impact success.
GroFin business fundingFunds include the Nomou Jordon Fund, Nomou Iraq Fund, and Northern Iraq Investments.
GroFin business funding Small and Growing Businesses (SGB) Fund
The GroFin Small and Growing Businesses (SGB) Fund was established in 2014 to create a commercially oriented platform that provides developmental assistance to entrepreneurs. In particular, the fund supports small and growing businesses by offering start-up and early-stage growth capital. Furthermore, it helps entrepreneurs build sustainable enterprises that contribute to long-term economic development.
The Fund exclusively invests in Africa. The businesses it funds usually operate in areas with a high poverty rate, and often employ people living in poverty or provide vital products and services to them.
Criteria for Investment Include:
•Needs to be operational in in countries where GroFin has an office – Kenya, Uganda, Tanzania, Rwanda, Ghana, Nigeria, Ivory Coast, Senegal, South Africa, Zambia, Egypt, and Oman.
•Entrepreneur or the business requires medium-term loan capital for their business: between US$100k and US$1.5m for a loan duration of 3-8 years (US$100k and US$2m in Iraq and Jordan) in local currency equivalent.
•It must be operating for 2-3 years and has an annual turnover of 1.5 times the loan amount. GroFin does not consider startups on a case-by-case basis.
• The business needs to operate in one/more sectors including Education, Healthcare, Agri-Processing, Manufacturing, or Key Services (Energy/ Waste/ Water/ Recycling). Other sectors may be considered on a case-by-case basis.
• There are collateral requirements, such that entrepreneurs are to (partly) secure the loan. Personal guarantees of the entrepreneur(s) are required.
• The business needs to make positive social and economic impact. This may include job creation, sustaining livelihoods, women empowerment, and/or benefiting the environment.
Dream Team Capital can provide access to GroFin business funding and other funders, so do not hesitate to Contact Us!