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Deal Source Africa, a programme designed to address the funding gap for African Small and Medium-scale Enterprises in Africa, has been launched at the West Africa Deal Summit in Accra.
A statement said the programme aimed to connect African businesses with investors and transaction advisors, as well as facilitate interactions between African impact funds and investors.
It said, “With a staggering $331bn funding gap for African SMEs, particularly those with high growth potential, Deal Source Africa offers tailored solutions to meet their specific business needs.
“The programme encompasses various components, including a digital platform that serves as a connection hub for investors and businesses. Additionally, in-person and virtual deal rooms are available, providing opportunities for businesses to meet with potential investors.”
It said impact fund showcases were organised, enabling investors to engage with African venture funds and other local capital providers to further support businesses throughout their fundraising journey, experienced transaction advisors were connected with them, offering professional guidance and assistance.
The platform’s dedicated deal officers played a crucial role in facilitating connections between businesses and investors, ensuring productive engagements and collaborations.
It said, “Deal Source Africa facilitated much-needed investments in SMEs. By addressing the funding gap and providing a platform for meaningful connections, the program aims to unlock opportunities, drive innovation, and propel the growth of African businesses.”
The Chief Executive Officer of Impact Investing Ghana, Amma Lartey, said, “The research is clear that growing SMEs can significantly accelerate the achievement of the SDGs and that creating more efficient connections between businesses, local funds, and limited partners could help deploy more appropriate patient capital.
“Innovative platforms like Deal Source Africa, built and tested with its users can therefore greatly accelerate the closing of the SME financing gap.”
The Chief Executive Officer of the Nigeria National Advisory Board for Impact Investing, Etemore Glover, said, “Deal Source Africa has the potential to become a significant enabler of financing for businesses and local capital providers across Africa.
“We are excited to be able to collaborate with IIGh on this initiative and to see it grow across Africa through our partners in other countries. Africa-wide platforms with strong local partners are essential to fill the financing gap facing our businesses.”
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