{"id":8081,"date":"2016-08-10T23:57:06","date_gmt":"2016-08-10T22:57:06","guid":{"rendered":"http:\/\/nationalwire.com.ng\/?p=8081"},"modified":"2016-08-10T23:57:06","modified_gmt":"2016-08-10T22:57:06","slug":"afdb-approves-9m-equity-investment-for-smes-in-nigeria","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/afdb-approves-9m-equity-investment-for-smes-in-nigeria\/","title":{"rendered":"AfDB approves $9m equity investment for SME\u2019s in Nigeria"},"content":{"rendered":"

The African Development Bank has approved a nine million dollar equity investment in the Fund for Agricultural Finance in Nigeria (FAFIN) to provide expansion capital to agricultural small and medium-sized enterprises (SMEs).<\/p>\n

This was contained in a press statement issued by the bank\u00a0on Monday\u00a0and published on its web:\u00a0www.afdb.org<\/a>.<\/p>\n

According to (NAN) the statement said that FAFIN is a first-generation private equity fund that provides financial, capacity-building and technical assistance to commercially viable SMEs in the Nigerian agribusiness sector.<\/p>\n

It said that FAFIN used a unique value chain-centric approach, a combination of equity, quasi-equity and convertible loan instruments to provide loan for SME\u2019s.<\/p>\n

According to it, FAFIN implements its strategy and constructs its portfolio through a bifocal lens consisting of the twin objectives of competitive financial returns and measurable positive social impact.<\/p>\n

The Fund is jointly sponsored by the German KfW Development Bank and the Government of Nigeria, through the Federal Ministry of Agriculture and Rural Development (FMARD).<\/p>\n

The Fund Manager is Sahel Capital (Mauritius) Limited, a fund management firm incorporated in Mauritius in 2013.<\/p>\n

The project is expected to deliver strong development outcomes from household benefits and employment through the creation of a large number of jobs and the provision of certain agricultural products.<\/p>\n

It also said this would bring about positive gender and social effects through the implementation of out-grower schemes and supporting rural development and private sector development.
\nIt said that through alleviation of financial constraints faced by agribusinesses, this would enhance agricultural value chains.<\/p>\n

\u201cThe project\u2019s contribution to inclusive growth is expected to be significant, given the large numbers of jobs to be created and out-growers to be reached at the level of sub-projects,\u2019\u2019 it said.<\/p>

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Its contribution to green growth is expected to be low, because the Fund targets the agribusiness sector with some expected negative effects on the environment.<\/p>\n

The Fund\u2019s primary focus will be on SMEs across the agricultural value chain with crop value chain and geographic diversification.<\/p>\n

It aims at fixing broken value chains to increase efficiencies, reduce post-harvest loss, and increase smallholder farmer incomes and SME agribusiness profitability.<\/p>\n

Investment instruments will be primarily quasi-equity (convertible bonds, preference shares and structured royalties) and direct equity. The ticket size ranges from 500, 000 dollars to 5 million dollars.<\/p>\n

The Fund is aligned with the Bank\u2019s ten-year strategy focusing on inclusive growth, strengthening agriculture and food security, and access to local SME finance.<\/p>\n

It added that this encapsulated in the Bank\u2019 High Five Development Agenda for Africa, specifically Feed Africa and Industrialise Africa.<\/p>\n

It is also in line with the bank\u2019s strategy for Agricultural Transformation in Africa (2016-2025), Strategy on Jobs for Youth in Africa (2016-2025).<\/p>\n

Others are the Bank\u2019s Country Strategy Paper for Nigeria (2013-2017), which supports an enabling environment for agriculture.<\/p>\n","protected":false},"excerpt":{"rendered":"

The African Development Bank has approved a nine million dollar equity investment in the Fund for Agricultural Finance in Nigeria (FAFIN) to provide expansion capital to agricultural small and medium-sized enterprises (SMEs). This was contained in a press statement issued by the bank\u00a0on Monday\u00a0and published on its web:\u00a0www.afdb.org. According to (NAN) the statement said that …<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[682,683,684],"coauthors":[2392,2393],"class_list":["post-8081","post","type-post","status-publish","format-standard","","category-business","tag-afdb","tag-agriculture","tag-sme"],"yoast_head":"\nAfDB approves $9m equity investment for SME\u2019s in Nigeria - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/afdb-approves-9m-equity-investment-for-smes-in-nigeria\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB approves $9m equity investment for SME\u2019s in Nigeria - National Wire\" \/>\n<meta property=\"og:description\" content=\"The African Development Bank has approved a nine million dollar equity investment in the Fund for Agricultural Finance in Nigeria (FAFIN) to provide expansion capital to agricultural small and medium-sized enterprises (SMEs). 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