(Ecofin Agency) - The French Development Agency (AFD) will grant, through its ARIZ financing mechanism, a guarantee of R28 million ($1.8 million) to partially cover the operations carried out by the South African investment fund ASISA Enterprise and Supplier Development (ASISA ESD).
ASISA ESD aims to conduct equity investments in small and medium-sized enterprises (SMEs) with a high social and environmental impact in South Africa. Amounts to be granted range from 1 to 30 million rand.
In 2018, the South African fund claims to have invested nearly R340 million into micro-enterprises in the country. Part of these resources, R126 million, were used to finance the growth and development of SMEs targeted by the ASISA ESD fund.