Group leverages public-private investment to finance SMEs
An impact investment platform is leveraging private capital, public sector investments and philanthropic giving to invest in Nigerian Small and Medium Enterprises (SMEs) SMEs. The investment platform, SME.NG, intended to realise environmental, social and financial returns would be approached through a ‘blended financing’ model.
The platform comprises of – The Ebi Fund, which is a bottom of the pyramid fund for women; The Women’s Investment Fund, a fund dedicated to large women-owned businesses; The Youth Innovation Fund, that invests in youth start ups; She Works Here, an all women accelerator; and The Funding Space, a convening to build and grow the impact investment ecosystem.
The Managing Director of SME.NG and the Chairperson of Afrigrants, Ms. Thelma Ekiyor, stated that SME.NG has changed the landscape for gender-lens investing in Nigeria.She said it became pertinent to create a one stop platform for women to strengthen their businesses and access different types of financing to meet their needs.
Recently, 15 women entrepreneurs graduated from the All Women’s Accelerator, She Works Here. The graduation coincided with an Investor Pitching event, where the women entrepreneurs pitched the businesses to impact and angel investors.