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MSMEs | MSME - Funding, Lending & Credit

Grooming Endowment Trust Appoints FRAGG Investment Management as Fund Manager

Feb 01, 2021   •   by   •   Source: Proshare   •   eye-icon 1719 views

Monday, February 01, 2021  / 02:30AM / Fragg Investment Management/ Header Image Credit: Groomingcentre.org

 

FRAGGInvestment Management Ltd is pleased to announce that we have been appointed asthe Fund Manager by the Board of Grooming Endowment Trust. The GroomingEndowment Trust is seeded with approximately 15 Million USD with the target ofreaching a cap of 50 million USD.

 

TheGrooming Endowment Trust is set up by Grooming Centre, a Non-GovernmentalOrganization and one of the largest Microfinance Institutions in Nigeria with aprimary aim to address the near absence of financial services to the largepopulation of people engaged in small trading and micro productive activitiesin Nigeria. FRAGG intends to manage the Fund in line with the Fund's mandate tofill a market gap in the African market, by providing financial resources andtechnical assistance to multi-sector SMEs in the impact and climate domain. Itwill specifically target viable multi-sector Impact SMEs with clearly defined businessmodel, social and environmental goals.

 

TheFund setup and consequent appointment of FRAGG as Fund manager come at a timewhere access to finance is critical for SMEs in the light of the globalpandemic and huge funding gap in the region. FRAGG proposes to utilise itsextensive experience spanning over a decade in fund management and investmentadvisory to multi-sector, as well as deep knowledge of the impact investmentecosystem to identify viable business models, provide technical support and fundingin order to achieve a balanced long-term social and financial risk-adjustedreturn.


Detailsof funding requirements and selection criteria for SMEs in Nigeria to followshortly.

 

Proshare Nigeria Pvt. Ltd.

 

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Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

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