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GroFin secures $10m USAID grant to back East African agribusinesses

Pan-African development financier GroFin has received a grant of US$10 million from the USAID East Africa Trade and Investment Hub to make investments in the agribusiness sector in East Africa over a two-year period.

GroFin specialises in financing and supporting small and growing businesses across Africa and the Middle East, and is active in Kenya, Rwanda, Uganda, Tanzania, South Africa, Zambia, Nigeria, Ghana, Ivory Coast, Senegal and Egypt.

It has invested in 600 SMEs, supported over 8,000 entrepreneurs, and sustained over 95,125 jobs across a wide spectrum of businesses over the last 14 years, and will use the grant from the USAID East Africa Trade and Investment Hub to invest in Kenya, Uganda, Rwanda and Tanzania.

Read more at Disrupt Africa (Tom Jackson)