News
Small Foundation is thrilled to announce an expanded partnership in the equipment finance sector with an equity investment in EFAfrica Group (EFAG). Small Foundation joins KfW, AgDevCo and MEDA in an investment round that will enable the acquisition of Equity for Tanzania (EFTA) and the launch of equipment finance companies in Kenya and Uganda.
This partnership builds on Small Foundation’s five-year engagement with EFTA. During this time, EFTA has shown the positive impact on small businesses of equipment finance. EFTA has facilitated access to equipment for farms, processors, and the transport and tourism sectors.
EFTA’s financing, averaging USD 30,000 per loan, has to-date directly or indirectly supported over 10,000 jobs. Sixty-four percent of EFTA’s borrowers are in rural / mixed-rural areas.
This partnership is part of Small Foundation’s productive asset finance work. Small Foundation is looking forward to working with the EFAG team going forward. More information on the investment can be found in the press release.
Image credit: Bianca Thielke
