At Finding XY, 2023 is moving on rather well across the different projects implemented! In this newsletter, we share with you updates on the Women in Agriculture Impact Investment (WAII) Facility, Africa Enterprise Challenge Fund, and UNIDO and Feed the Future Strategic Investments Activity (SIA).
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Eddie Sembatya,
C.E.0
THE WOMEN IN AGRICULTURE IMPACT INVESTMENT (WAII) FACILITY
Finding XY continues to build a strong pipeline of female-led Agri SMEs in both Kenya and Uganda looking to raise investment in debt or equity financing through the Women in Agriculture Impact Investment (WAII) Facility. The facility continues to partner with institutional and impact investors to accelerate investment in female-led Agri-SMEs. Since the facility launch in June 2022, we have partnered with investors including, Nordic Impact Funds ,I Gravity and Asante Financial services! We look forward to engaging with more investors to address the “gender gap” through Gender Lens Investment and a blend of development and commercial finance.
The facility has received over 125 expressions of interest, out of which 18 Agri-SMEs were selected for the first investment advisory cycle, and deals worth more than USD 600,000 closed!
Additionally, the companies are steadily recording progress with regard to financial milestones, team milestones, service and programs milestones, GY Impact milestones, and environmental impact milestones. Finding XY will soon publish an impact report detailing the measurable impact of the Women in Agriculture Impact Investment Facility in addressing the ‘gender gap’.
On 6th -22nd March, Finding XY held an Investment Readiness Accelerator Workshop For Female-led Agri-SMEs. The purpose of the workshop was to significantly move Agri-enterprises towards financial sustainability and investment readiness through the preparation of investor documents, growth strategy, and financial management.
To speed up the investment readiness progress of Agri-SMEs, the accelerator workshop was designed to create a space for the female-led Agri-SMEs to brainstorm industry-specific ideas that can address common challenges faced in fundraising, attain specialized practical knowledge from industry experts, networking opportunities and gain investor attention. The Agri-SMEs are currently preparing to pitch to a pool of investors that
WAII is made possible by the generous support of the American people through the United States Agency for International Development (USAID) under the Feed the Future Uganda Inclusive Agricultural Markets Activity and is implemented by Finding XY.
UNLOCKING INVESTMENTS IN GENDER AND YOUTH-INCLUSIVE EARLY-GROWTH STEGE ADAPTATION OF SMALL AND MEDIUM SIZED ENTERPRISES IN KENYA AND UGANDA
UNIDO working with Finding XY, Kenya Climate Ventures , and adelphi have organized a National Stakeholder Adaptation Workshop on “Unlocking investments in gender and youth-inclusive early-growth stage adaptation Small and Medium-sized Enterprises (MSMEs) in Kenya and Uganda workshop” slated for 6th April, 2023.
The project is intended to unlock investment in female and youth-led early-growth-stage adaptation MSMEs in Uganda and Kenya. The workshop seeks to realize the potential of adaptation SMEs to provide cost-effective and localized adaptation solutions to vulnerable communities in climate change-susceptible geographies in Uganda and Kenya. This workshop aims to pilot a catalytic finance facility to support early growth adaptation SMEs in Kenya and Uganda to scale their business models and impact highly vulnerable target groups.
At the end of the project, the finance facility in combination with targeted business and post-investment advisory support will help these SMEs to overcome the missing middle financing gap and related challenges to grow and replicate their business operations, thus, widening the outreach and deployment of adaptation solutions to vulnerable groups.