Spain’s Gawa Capital, manager of the public-private Huruma Fund, recently disbursed the fund’s second investment in Africa, lending EUR 5 million (USD 5.2 million) to Babban Gona, a Nigerian firm that supports 81,000 farmers with financing, inputs, training and re-sale services. Babban Gona serves farmers of maize and other crops in six states and is planning to expand to serve 15 states in Nigeria as well as other countries.
The goal of Huruma is to use debt and equity instruments to improve financial access for small-scale farmers in Africa, Asia, Latin America and the Caribbean. Huruma is led by Compañia Española de Financiación del Desarrollo (COFIDES), a development finance institution backed by the government of Spain. The fund has a volume of EUR 120 million (USD 126 million), of which three quarters is from private investors.
Sources and Additional Resources
Huruma press release
https://fondohuruma.com/en/the-huruma-fund-invests-5-million-euros-in-an-agricultural-processor-in-nigeria/
Babban Gona homepage
https://babbangona.com
Gawa Capital homepage
https://www.gawacapital.com
COFIDES homepage
https://cofides.es
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