Dealflow | December 16, 2021

Aceli Africa raises $27 million to boost lending to agribusinesses in East Africa

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, December 16More than half of East Africans depend on agriculture for their livelihoods, but loans to grow their businesses are scarce.

Aceli, launched last year, provides a first-loss cushion of up to 8% to lenders to back high-impact agribusinesses that prioritize gender inclusion, food security and climate resilience.

It has issued 254 loans totaling $30 million to bring new lenders into the marketplace. The impact: $108 million has been injected into rural East African communities, creating full-time jobs for 4,700 people.

The new donor commitments came from the Dutch Ministry of Foreign Affairs and the U.K.’s Foreign, Commonwealth & Development Office. Aceli’s has raised $62 million to date.