Cordaid starts a major investment program in West Africa

March 9, 2021

 West Africa is grappling with challenges of unprecedented magnitude. Despite the extremely difficult conditions, many West African entrepreneurs are still able to successfully build a business. Unfortunately, the entrepreneurs subsequently lack the capital to continue growing. Cordaid Investment Management is one of the first investors to enter this gap. 

Providing growth capital to local entrepreneurs

As one of the first impact investors in the world, Cordaid Investment Management provides growth capital to local entrepreneurs in this fragile context. With the launch of a new investment program, companies such as Easy Solar in Sierra Leone and SCS in Mali are able to create sustainable development and stability in the region.

The West Africa Bright Future Fund

International organizations support Cordaid's pioneering role in West Africa. The US Development Finance Corporation has provided a credit guarantee of USD 15 million, and The West Africa Trade & Investment Hub and the National Postcode Lottery have awarded a total of USD 3 million. With this support, Cordaid Investment Management establishes the investment fund West Africa Bright Future Fund, which focuses specifically on entrepreneurship in West Africa. Cordaid itself is investing USD 17 million in the fund. Cordaid anticipates that other like-minded investors will contribute to eventually double the amount.

Investing for a brighter future

“Cordaid fills a gap, because there is hardly any access to adequate financial services in West Africa,” says Hann Verheijen, director of Cordaid Investment Management. “Financing entrepreneurship creates many thousands of jobs and leads to sustainable economic growth. Above all, it offers hope for a brighter future for the population in that region.”

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