Tapping the capabilities of Africa’s emerging class of capital managers to address a systemic gap in finance for small and growing businesses
Nairobi: 9 June 2022
Our investment arm, FSD Africa Investments (FSDAi), has announced an £8 million investment to support a new class of investors who are financing Africa’s small businesses and consider gender equity a key driver of financial performance.
In partnership with the Collaborative for Frontier Finance (CFF), and the Facility Manager, a Joint Venture of Cardano Development and Total Impact Capital Europe, FSDAi will provide the critical anchor funding for a new special purpose vehicle, Nyala Venture.
Nyala Venture will bridge the funding gap left by other institutions, by targeting a new class of capital providers serving small and growing businesses, particularly those which are led by women or are applying a gender lens investment strategy in Nigeria, Ghana, Kenya, Senegal, South Africa, and Uganda.
This new class of asset managers have better networks and embedded boots on the ground, enabling them to play a huge role in supporting and growing local businesses. Our support to them is part of our journey to discovering new investment avenues through which we could impact the overlooked but critical sectors of Africa’s economy and tap into the opportunity presented by women as investors and founders.
Anne-Marie Chidzero – Chief Investment Officer, FSD Africa
