Whether and how an equity fund could unleash investments in chains in Ethiopia?

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Presentation transcript:

Whether and how an equity fund could unleash investments in chains in Ethiopia?

Background NGOs want to do more than subsidize the value chain development and farmer entrepreneurship Missing middle short on finance Agro-processing is promoted by different actors, national and international There are some examples of equity fund but not at this level. A study is done to see supply and demand - > positive results

Why? Vision Strong and well capitalized SME’s create employment opportunities as well as foster the necessary incentives and conditions for small producers/enterprises to access a sustainable and profitable market. The fund would like to be a key partner for entrepreneurs that are growth oriented and that can create economic, social and environmental benefits. Mission The mission of the fund is to provide SME’s with risk capital and related technical support to stimulate business growth and impact on specific value chains. By doing so the fund generates a return for and its shareholders as well as triple bottom line profits for the investees and the society at large.

Intervention Strategy Invest primarily in agriculture or agro-processing companies that can add value within a particular value chain Portfolio companies should have a clearly and identifiable impact on small producers (agriculture) and/or small enterprises supplying products/services to the portfolio company. Invest in labor intensive businesses. formally registered enterprises with clearly defined product/market combinations, functional management and in which the entrepreneur has strong management capability The Fund will directly invest in equity and take shares a minority position in the portfolio company It is expected that in every portfolio company technical assistance is provided

How does this improve the VC? Focus on the missing middle amount between 50 and Euro Secure an investment at processing level 3 parties, processor, farmers, and fund

Questions on sustainability Will it be possible to cover the costs of fund management with relatively long term investments in a risky sector? How to deal with the Business Development Services should this be a grand or part of the investment? Will other investors be interested with the current difficulties of transferring profit/Euro’s abroad? Are companies really ready and willing to have an intervention at management level in return of the capital?