GroFin Achievements

Over the last 12 years, our partnership has been able to demonstrate that critical finance and skills support can be delivered to SMEs in a way that is viable and delivers financial return to investors. 

With $170 million, GroFin Africa Fund is the world's largest SME fund
GroFin has grown from an initial pilot in South Africa to an organisation with local offices across 14 countries in Africa and the Middle East. GroFin has received investment from a wide range of impact investors, multilateral agencies, development financiers and commercial banks and now manages 10 SME funds totalling over $500 million. The $170m GroFin Africa Fund is the world’s largest fund targeting the sub-$1 million SME sector.

WBD-Awards.jpgGroFin has invested in over over 800 SMEs (providing an average of $330,000 funding over five years alongside extensive business support) and has given additional pre-finance business assistance to more than 7,000 entrepreneurs. These results have attracted international recognition including an Africa Investor Award (in 2008) and a World Business and Development Award (in 2010).

In 2012, GroFin expanded its operations to the Middle East by establishing ‘Nomou’ – a regional SME initiative with local operations in Oman, Jordan, Iraq and Egypt.

More than 80% of GroFin clients are still viable today – an exceptional continuity rate when compared with global benchmarks that show only 30% of all start-up businesses make it beyond their first three years.

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