R/€ = 17.88
R/$ = 15.88
Au 1237.82 $/oz
Pt 955.50 $/oz
Aug 27, 2008
Africa-focused SME fund raises R1bn at first closeBack
© Reuse this The pan-African growth fund for small and medium-sized companies, GroFinAfrica (GAF), has raised R1-billion at its first fund closing, the fund’s management company, GroFin, said this week.
The first close investors in the fund included African Development Bank, CDC, FMO, Shell Foundation, International Finance Corporation and GroFin. The GAF was still open to additional investors, it stated.
The fund was looking to make risk capital investments of between R750 000 and R7,5-million in seven countries, including namely Nigeria, Ghana, Kenya, Tanzania, Rwanda, Uganda and South Africa.
The new pan-African fund would be targeting growth finance opportunities in all sectors such as consumer goods, services, logistics/transportation, private education, tourism, manufacturing and agri-business. Mauritius based GroFin Managers has GroFin teams based in offices in Lagos, Accra, Nairobi, Dar es Salaam, Kigali, Kampala, Pretoria and Durban.
“We are very excited about the opportunities this fund creates. The economic, political and social reforms coupled with several years of high growth that have taken place across many African economies make it a very attractive growth finance environment,” said GroFin Managers MD Jurie Willemse.
The GroFin Africa Fund was building on the risk capital and business development platform established by GroFin in Africa through the GroFin East Africa Fund, a R195-million fund invested in growth finance enterprises throughout East Africa, the Aspire Nigeria Fund, a R230-million fund investing in Nigeria and the Empowerment through Energy Fund, a R50-million pilot fund fully invested in South Africa. GroFin also manages R140-million of bank co-investment commitments in East Africa.
Edited by: Mariaan Webb© Reuse this
Creamer Media Senior Researcher and Deputy Editor Online
To subscribe email firstname.lastname@example.org or click here
To advertise email email@example.com or click here
Recent Research Reports
Construction 2016: A review of South Africa's construction industry (PDF Report)
Creamer Media’s Construction 2016 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; key participants; local demand; geographic diversification; corporate activity; black economic...
Energy Roundup – February 2016 (PDF Report)
The February 2016 roundup covers activities across South Africa for December 2015 and January 2016 and includes details of a Government Gazette notice that confirms Cabinet’s decision to move ahead with the 9 600 MW nuclear procurement programme; State-owned power...
Energy Roundup - December 2015 (PDF Report)
The December 2015 roundup includes details of State-owned utility Eskom’s application to claw back R22.8-billion; South Africa’s ranking as an investment destination for renewable energy; and a nuclear expert’s thoughts on reactor designs for South Africa’s nuclear...
Water 2015: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2015 Report considers the aforementioned issues, not only in the South African context but also in the African and global context in terms of supply and demand, water stress and insecurity, and access to water and sanitation, besides others.
Input Sector Review: Pumps 2015 (PDF Report)
Creamer Media’s 2015 Input Sector Review on Pumps provides an overview of South Africa’s pumps industry with particular focus on pump manufacture and supply, aftermarket services, marketing strategies, local and export demand, imports, sector support, investment...
Liquid Fuels 2015: A review of South Africa's liquid fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2015 Report examines these issues in the context of South Africa’s business environment; oil and gas exploration; fuel pricing; the development of the country’s biofuels industry; the logistics of transporting liquid fuels; and...
This Week's Magazine
Lifting, transporting, installing and ballasting solutions provider Ale has expanded its global fleet of trailers and invested in the latest range of widening trailers that can be mechanically widened from 3 m to the desired width for any project. Ale ordered 48 axle...
The market for the BMW 7 Series in South Africa differs quite significantly from the rest of the world. China, the US and the Middle East almost exclusively buy the long-wheel-base version, using the German manufacturer’s luxury high-end sedan as a chaffeur-driven...
January new-vehicle sales fell by 6.9%, to 48 615 units, compared with the same month last year. Statistics released by the Department of Trade and Industry show that the domestic new passenger-car market declined by 6.1%, to 34 936 units, compared with 12 months ago.
Information technology (IT) equipment and infrastructure multinational Dell is providing open infrastructure systems for clients so that they can use any systems, including innovative new systems, that suit their business needs, says Dell Europe, Middle East and...
South Africa’s State-owned defence industrial group, Denel, has set up another international partnership, based in Hong Kong. This new subsidiary is Denel Asia and it is a joint venture (JV) with South African private sector company VR Laser.