GroFin CEO Guido Boysen was invited to speak at the Africa Finance and Investment Forum held from 13th to 16th February in the vibrant city of Nairobi, Kenya. Guido explained how financial institutions are scared of investing in small and growing businesses (SGBs) and noted that GroFin is exclusively interested in SGBs that need funding to continue to grow but will never fit the criteria of the formal financial sector.
The pan-African conference, held each year since 2015, centred around investing and accessing finance in Africa, and was attended by participants from more than 30 countries.
During the landmark event, both the challenges as well as opportunities of starting Small and Medium-sized Enterprises (SMEs) in Africa were addressed, together with the need to support SMEs’ growth and development by improving the financing environment.
Guido took stage during Part II of the plenary session held on Day 3, titled ‘Providers of Capital to Africa and Experience of Companies in Attracting Funds’.
This plenary session focused on the trends and the challenges of the different sources of finance in Africa. The speakers discussed solutions to bridge the financing gap for SMEs, a sector with a huge potential, but one that financial institutions still consider too risky to invest in.
“GroFin takes an active approach to investments, providing equity capital or loans structured in accordance with the businesses’ needs. We also advise SMEs on management, marketing, financial planning and reporting,” highlighted Guido.