What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty. What Aspire is the Shell Foundations programme designed to help under-served Small and Medium-sized Enterprises (SMEs) in Africa to fulfill their potential – and in turn bring sustainable jobs and economic growth. Launched in 2006, it now has funds of $260 million and operates on a Pan-African basis. Aspire helps SMEs by guiding entrepreneurs through the provision of business development assistance (BDA) - and combines this with finance. This gives SMEs – that often struggle to obtain finance from traditional African banks because of a lack of skills and collateral – the opportunity to grow. This creates much-needed sustainable jobs and growth in Africa. Importantly, the facility also provides financial returns to investors, giving Aspire the potential to be a self-financing solution to poverty. Why In OECD countries, SMEs and microenterprises account for over 95% of firms, 60-70% of employment, 55% of GDP and they generate the lion's share of new jobs.  In some African countries, the figure is as low as 10%.  Africa is missing out on a potential engine for growth and job creation. Yet, as these figures illustrate, this role is clearly not being fulfilling. Two of the main reasons are lack of skills and access to capital. Typically, SMEs in Africa lack the business skills, track record and collateral to meet the existing lending criteria of risk-averse local banks. This creates a finance gap” in most markets between US$50,000 and US$1 million. Individuals and very small-entities are able to obtain ‘microfinance, while large companies access finance from banks – but SMEs fall through the gap in the middle. Unable to obtain funding, many fail to fulfill their potential – and Africa misses out on one of the key drivers of economic growth and poverty alleviation. Who The facility was established by the Shell Foundation in partnership with GroFin - a specialist business developer and financier - that locally manages the programme. It is backed by the Belgian, British, Swiss, Finnish and Dutch government development finance institutions (DFIs) – BIO, CDC, SIFEM, Finnfund and FMO. The Skoll Foundation, Syngenta Foundation and Triodos, the ethical investment bank have also invested. The involvement of these organisations convinced local African banks to commit capital as well. These include Kenyas Commercial Bank of Africa, Ugandas Dfcu Bank, Tanzanias EurAfrican Bank and Banque Commerciale du Rwanda. This combination of a specialist BDA and finance provider, together with the involvement of foundations, DFIs and local African banks makes Aspire a radical departure from most traditional forms of investment in Africa. Where The Aspire facility concentrates on SMEs in Kenya, Uganda, Tanzania, Rwanda, South Africa, Ghana and Nigeria and will be rolled out across the Continent in the next five years. Aspire also builds on the proven success of similar facilities established by Shell Foundation in Uganda and South Africa. The Uganda Energy Fund (UEF) and the South African Empowerment Through Energy Fund (ETEF) committed US$5 million and US$8 million respectively to SMEs. Together, they have created nearly 5000 new jobs and improved the livelihoods of nearly 30,000 people. When Aspire launched in East Africa in 2006, South Africa in early 2007 and Nigeria in mid-2007 and will initially run for seven years. It will also rapidly expand to other parts of Africa. The Shell Foundation–GroFin partnership began in 2002 and was followed by the establishment of ETEF. The Shell Foundation also set up UEF in January 2003, in partnership with Ugandas Dfcu bank. How Aspire targets the start-up and growth SME sector. Specifically, SMEs in need of the equivalent of US$50,000 to US$1million in local currency, who typically have less than 50 employees, annual sales up to US$5million and total assets up to US$3million. SMEs who fit these criteria and are in the countries in which Aspire is operational, apply to the relevant GroFin country office. Their application goes through a rigorous pre-investment process before a decision is made whether or not to invest in them. Once that decision is taken, the GroFin team works closely with the entrepreneur to develop a viable business plan. They then continue to provide BDA, offering direction, support and management intervention wherever necessary. There is a built-in incentive for GroFin to provide BDA because its own returns are tied to the SMEs success. By delivering both, it is proving possible to produce both returns that are attractive to investors – and developmental returns in the shape of jobs and growth. This means Aspire has the potential to be a self-financing ‘business-based solution to poverty.