Inua Impact Fund receives investment to support Agri SMEs in Uganda
EDFI AgriFI, will provide USD 2 million to Inua Impact Fund to support up to 30 investments into early stage and high-growth Ugandans small and medium-sized enterprises (SMEs).
Inua Impact Fund will be the first resident impact investment equity fund in Uganda that will be investing in high-potential entrepreneurs and SMEs with financing needs lower than $500,000. Inua Capital apply a gender lens in its investments to correct gender imbalances in the private sector economy and narrow the gap for women in access to capital.
Accounting for a quarter of the country’s GDP, and three quarter of employment, agriculture represents a crucial growth opportunity for Uganda. Through this investment in INUA Impact Fund, EDFI AgriFI will be able to invest in around 10 agri SMEs, which should indirectly support around 3,000 smallholders over 10 years. Inua Impact Fund is the first investment of AgriFI financed under its African, Caribbean, and Pacific (ACP) regional window that started in January 2022. The aim of this window is to enable SMEs, financial institutions and impact funds in ACP countries working in 11 priority value chains to access long-term funding with the end goal of improving farmers’ livelihoods.
Helping people fight poverty and provide better lives.
Babban Gona member Filibus Zakariya used to live a life of poverty with his family, working on different farms just to ensure they had something to eat. Thanks to Babban Gona, his maize farm allows him to provide a better life to his family and help his community.
EDFI AgriFI invested in Babban Gona in January 2020. Since then, the company has notably partnered with Harvard University ’s Aspire Institute to develop Nigerian students’ leadership skills, and trained +100K women in entrepreneurship.
Watch Filibus Zakariya’s video here: https://buff.ly/3B2EraV