Commitment to Action

The African Small Enterprise Fund

Commitment by

Shell Foundation

The GroFin Africa Fund (GAF), managed by GroFin - which was co-founded with the support of Shell Foundation - provides business development assistance and risk capital to start up and growing enterprises in Africa. GAF builds on the US$100m already commited to regional SME funds in Africa. In 2008 The Shell Foundation secured commitments of US$125m (surpassing the first close target of US$60m) for GAF. Financial commitments were approved by development finance institutions (CDC, FMO, Norfund), international finance institutions (IFC, African Development Bank), Shell Foundation and the sponsor (GroFin). GAF is now operational in all 7 countries in Africa in which local GroFin teams have been established.

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Overview
Summary

Commitment

The African Small Enterprise Fund

Launched

2005

Est. Duration

10 years

Region

Africa

Countries

South Africa, Kenya, Tanzania, Uganda, Rwanda, Nigeria, Ghana

Commitment by

Shell Foundation

Partner(s)

GroFin Group