Are you looking to expand your business? Cordaid Investment Management is looking for impactful investment entities in Mali, Sierra Leone, Burkina Faso and Guinea. Does your SME create jobs for women and youth? Are you active in agriculture, clean energy or waste management? West Africa Bright Future Fund (WABFF) could be a perfect fit.
Important dates :
Deadline: 31-Mar-2023 Name of donor :Cordaid Investment Management Amount of the grant :Over $1 million Category:Grant Reference URL :https://cordaidinvestment.com/news- |
Priority area(s) of interestTarget country(ies) |
The West Africa Bright Future Fund (WABFF) is initiated by Cordaid Investment Management. West Africa Bright Future Fund (WABFF) aims to stimulate economic development and help build sustainable livelihoods in Mali, Sierra Leone, Burkina Faso and Guinea. By providing "missing middle" loans ranging from €500,000 to €3 million, the €20.3 million fund aims to bridge the financing gap for SMEs in fragile West Africa.
Sectoral orientation
- The following three sectors are considered essential for the development of local markets and are therefore their focus for investment. These sectors are accessible to women and young people in particular, and relevant to addressing climate change.
- Agriculture
- Broad sectoral approach: agricultural production and processing companies focus on several value chains, such as fonio, mango, pineapple, cashew, etc.
- Clean energy
- Focus on off-grid solar and bioenergy solutions: mini-grids and commercial and industrial installations, solar home systems and appliances for productive use, biogas and clean cooking.
- Waste management
- Solid waste management, recycling, waste treatment and water management solutions.
- Agriculture
Benefits
- Senior secured debt
- CAPEX & Working Capital
- Banknote size 0.5-2 million euros
- Medium tenor (3-5 years)
- Strong and local currencies
Eligibility criteria
- The company has an annual turnover of less than USD 15 million
- The company has less than USD 15 million in assets
- The company is officially registered and operating in Mali, Sierra Leone, Burkina Faso or Guinea
- The company has been operational for at least 24 months or replicates an existing business model
- The company has less than 300 employees
- The company is active in agriculture, clean energy or waste management
- The company meets the solvency requirements: Total equity (including shareholder loans) / Total assets > 25 %
- The business is profitable or expected to reach profitability at the end of the loan
For more informationFor more information, visit Cordaid Investment Management.