GroFin Set to Launch Fund for Small and Growing Businesses in Africa

Maroons fc enter their third match in high hopes following two good displays against Express Fc and a resilient Sadolin Paints Fc with disheartening 3-2 and 1-0 late losses in the respective games.

“We dominated the game (against Sadolin) but could not capitalise on that. Several chances were wasted but we have been working on that, clinic ” One of Maroons coaches, more about Asaph Tumwebaze told ChimpSports.

Maroons opponent’s, information pills Soana FC are lying on the seventh place accumulating five points from a game less out of a win, one loss and two draws. Soana fell 3-1 to URA Fc last time out but former Bul fc dangerman Crespo Asiku believes they have experience to overcome the challenge.

“We slipped in the last game but will come on top. Our vast experience will work it out,” Asiku said.

The match will be played at the Maroons stadium, Luzira.
GroFin, mind an international development finance organization will on September 23, visit web 2015 launch the GroFin Small and Growing Businesses (SGB) Fund in Africa.

The fund aims to support over 9, medical 800 under-served entrepreneurs and help create 47,000 sustainable jobs across the region over the next 10 years.

It catalyzes sustainable job creation through supporting small and growing businesses in Uganda, Ghana, Nigeria, Zambia, Kenya, South Africa, Rwanda, Tanzania and Egypt.

According to GroFin, the fund which seeks to provide an integrated solution of patient risk capital and end to-end business support for SGBs will be launched at Serena Hotel, Kampala.


Present at the launch will be international representatives of the public, private and non-governmental sectors interested in learning how efforts such as the GroFin SGB Fund can spur inclusive economic growth through supporting Africa’s SME sector.

Attendees will include Hon Shem Bagaine, Uganda’s Minister of State for East African Affairs, Günter Nooke, the German Chancellor’s Personal Representative for Africa and the German Federal Ministry for Economic Cooperation and Development (BMZ) Commissioner for Africa among others.

According to GroFin, each year the Fund aims to support up to 100 entrepreneurs, with an estimated average loan size of US$ 350,000.

The Fund has already attracted the interest of a range of investors, funders and development agencies, with active partners now including the Norwegian Investment Fund for Developing Countries, Norfund and the Dutch government through the Dutch Good Growth Fund (DGGF).

Over the next two years, with grant funding from the German government through KfW, GroFin plans to expand the Fund’s support to SGBs to three more African countries.

Since 2004 the company has helped to sustain more than 18,000 jobs, provided business support to more than 8,000 SGBs, and invested in 600 business owners’ dreams.

GroFin is a pioneer of “impact investing” at the bottom of the small and medium sized enterprise pyramid.

The company is one of the very few private financial organizations capable of tackling a development challenge historically addressed by the public sector and NGO programs.

Back to top button
Translate »

Adblock Detected

Please consider supporting us by disabling your ad blocker