leases in East Africa, valued at approximately $48m, 35% in agriculture
employees at client enterprises in East Africa
EFAfrica Group
Leases in East Africa, valued at approximately $48m, 35% in agriculture
Employees at Client Enterprises in East Africa
EFAfrica Group (EFAG) is a Tanzanian and Kenyan finance company that specialises in serving small and medium enterprises (MSMEs) and farmers with equipment loans.
Small Foundation provided seed funding for the development of EFAG. This built on Small Foundation’s five-year engagement with Equity for Tanzania (EFTA), as EFAG were previously known, during which we supported its initial study on expansion which resulted in the expanded EFAG (with operations also in Kenya and looking beyond).
Our partnership and learning:
“Since 2013, EFAG has financed equipment for MSMEs with a value of $68 million and an average lease size of $24,400. $22 million of this has been financed in the agriculture sector, including for 582 tractors.
Small Foundation supported and participated in EFAG’s 2020 fund raising, which brought $12 million from equity investors. This was critical to financing our Tanzania operation during COVID and EFAG’s expansion into Kenya.”
– Equity for Africa Group