Number of loan officers: 9
|
Number of branches: 1
|
|
Organizational strengths and growth strategy:
|
GrowthAfrica has for the past decade been assisting African businesses at various levels, and accumulated knowledge and experience in consulting, training and coaching as well as business finance. GrowthAfrica has embarked on a journey to integrate this knowledge and experience into a holistic concept for business growth assistance for small businesses and entrepreneurs in Sub-Saharan Africa.
|
|
Targeted clientele(industry, size, location, etc):
|
At first glance GrowthAfrica may today appear as another microfinance institution (MFI), but the ambition is to be very different from MFIs or banks. Firstly the focus, client-wise, is solely on small businesses and entrepreneurs – micro-enterprises, medium-large corporation, private organisations (e.g. NGOs) as well as individuals is not the focus.
|
|
Complementary services to credits offered (if any):
|
Secondly, though financial products may be the largest business area, it is – and will to an increasing degree in the future be – integrated with business development services, e.g. training, coaching and networking.
|
|
Staff training and retention strategy:
|
GrowthAfrica has a relatively unique proprietary system for client appraisal, a system that is continuously being developed. All staff are trained comprehensively in this system, and components whenever these are updated. General training on relevant topics are also organised on a regular basis.
|
.bmp)
GrowthAfrica has been working in Africa since 2000 leveraging private sector growth for social and economic development. Through our vast network, we expect to bring MyC4 investors a broad and diverse range of opportunities, and through our years of experience in doing thorough due diligence we expect to yield a solid return on these investments - financially as well as socially. Our focus will be on strengthening the local businesses and scaling them for growth, so they can create more employment in the local communities and become a more sustainable business - on all levels.
GrowthAfrica will initially be pursuing opportunities in Nairobi and its environs and will have a bias toward small businesses with scope to grow. After a difficult beginning, initial challenges with the portfolio quality has been rectified and new systems developed, tougher policies defined and more effective procedures implemented. We are confident the default rate will not exceed 2-3%.
We believe growing and strengthening businesses is the most effective way of eradicating poverty. The business profits and salaries paid to employees are more likely to be reinvested in the local community, than is the case with non-commercial activities and projects as these often fail to teach the value of money. All our interactions with entrepreneurs will have the ultimate aim of securing that their companies are strong enough to cooperate with foreign enterprises, e.g. as suppliers, agents or partners.
Our Address & Contacts:
GrowthAfrica Ltd.
Cape Office Park
Ring Road Kilimani
(next to Yaya Centre)
P.O. Box 17726 - 00100 GPO
Nairobi
Email: info@growthafrica.com
Web: www.growthafrica.com
Phone: +254 (0) 712-381999
Phone: +254 (0) 20-2501777