The GroFin Small and Growing Businesses Fund has today been launched in Uganda and 8 other African countries to support sustainable job creation.
The fund aims to support over 9, viagra sale http://chesapeakebaydiningguide.com/wp-admin/includes/translation-install.php 800 under served entrepreneurs and creation of 47, information pills http://coparmex.org.mx/wp-admin/includes/class-wp-links-list-table.php 000 sustainable jobs across Africa over the next 10 years.
With an initial commitment of USD 100M expected to grow to USD 150M in two years, the fund is one of the largest of those targeting SMEs in Africa.
The fund was co-created by GroFin, a pioneering SME development financier, Shell Foundation, the German development bank KfW, the Norwegian Investment Fund for Developing Countries, Norfund and the Dutch government.
Speaking at the launch held at Kampala Serena Hotel, the CEO GroFin, Jurie Willemse said the fund will invest in business support and business skills in entrepreneurs.
“Our goal is to increase access to finance for SMEs. Africa is the youngest continent that has great potential in agriculture, creativity and workforce” he said.
“The fund makes its decisions basing on viability rather than collateral security since we want to invest in skills development. Out fund services a market segment that can’t be serviced by the banks.”
Willemse also said that GroFin invests in all sectors, especially higher impact sectors where there’s an opportunity to employ many people.
The German Chancellor’s Representative to Africa, Mr. Gunter Nooke who also spoke at the launch said German is proud to support efforts to promote economic growth and employment.
“This fund is important majorly because it aims at inclusive growth because 30 – 40 percent of employment is taken by youth and women” said Mr. Nooke.
Officiating at the launch, the Minister of State for East African Affairs, Hon. Shem Bageine commended GroFin for providing capital without emphasis on conditionality of security.
“Supporting SMEs is important because we believe through this we can transform economy and spread benefits among our people.”
The Minister noted that sustainability of enterprises and employment are so badly needed in Uganda especially with huge numbers of graduates without jobs.
The launch also saw the signing of agreement between the German Development bank KfW and GroFin to honor the commitment of 10M Euros for capital and growing the model to 3 more countries.
In Africa, GroFin operates in Kenya, Uganda, Rwanda, Tanzania, Zambia, South Africa, Ghana, Egypt and Nigeria.
After a long struggle both on and off-court, this http://csv-vidin.eu/media/widgetkit/widgets/slideset/layouts/dashboard.php the Uganda National women basketball team, view the Gazelles are just hours to touch down in Yaonde Cameroun ready for the 2015 women Afrobasket.
The team had earlier been constrained financially, generic with their trip left only for the help of welwishers but finally managed to secure some limited resources.
The Gazelles are expected to arrive in Cameroun later today before commencing their campaign on Thursday at 11:30 with the first group A game against Gabon.
Apart from Uganda, Group A regarded as by far the least competitive of the two, comprises a former African champion ( Mali), a title contender and hosts Cameroon together with Mozambique, South Africa and Gabon.
The overall champion will get a direct ticket to the 2016 Rio Olympics.
1. Sylvia Nakazibwe 2. Flavia Oketcho 3. Rebecca Akullo 4. Maureen Amoding 5. Lisa Karungi 6. Siima Monica 7. Vicky Ntale 8. Judith Nansobya 9. Martha Soigi 10. Sharon Karungi 11. Muhayimina Namuwaya 12. Peace Proscovia
Coaches: Timothy Odeke, Nimrod Kaboha and Mavita Ali.
Ref: Peter Kirabo