Status: Approved investment
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Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

GroFin is a private development finance institution specialized in financing and supporting small and growing businesses across Africa and the Middle East by combining medium term loan capital and value-added business support. By generating employment, strengthening value chains and building markets, their investments bring about inclusive economic growth and improved living conditions in the low and middle income countries where they operate.

What is our funding objective?

The funding will be fully used to finance women owned SMEs.

Why do we fund this investment?

Our financing meets the United Nations Sustainable Development Goals supporting women entrepreneurs with access to finance. Furthermore, this loan provides GroFin with stable long term funding, which indirectly contributes to economic development in Africa.

What is the Environmental and Social categorization rationale?

GroFin has been categorised as E&S Category B in accordance with FMO’s Sustainability Policy. The activities of GroFin are deemed to have potential limited adverse environmental and social risks and/or impacts. GroFin has developed an ESMS to mitigate any impacts. As part of this transaction, GroFin will be required to apply the EDFI Exclusion List and the E&S laws and regulations of the different host countries where GroFin is active.

More investments

Date Total FMO financing
6/25/2019 ZAR 25.00 MLN
3/8/2019 USD 5.00 MLN
Infrastructure, Manufacturing and Services
Publication date
Effective date
Total FMO financing
EUR 3.50 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)