Here are the latest updates of some of the Foundation’s programs at work:
The African Small Enterprise Fund
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.
(Editor’s Note: October 23–29, 2016 is National Historically Black Colleges & Universities Week, which celebrates the …