Deal Source Africa program was officially launched at The West Africa Deal Summit in Accra. Its goal is to connect African businesses with investors, deal advisors, and African Impact Funds with investors.
The program will help fill the $331 billion funding gap for small and medium-sized businesses (SMEs) in Africa, especially those with high growth potential, by giving them options to fit their business needs. Businesses and funds can sign up to use the platform at https://DealSourceAfrica.co/. It was built with money from UK Aid’s Research and Innovation Systems for Africa (RISA) Fund and tested in 2022.
Deal Source Africa is made up of a digital platform that connects investors with companies, in-person and online Deal Rooms where businesses can meet investors, and Impact Fund Showcases where investors can meet African venture funds and other local capital providers.
Businesses are connected with experienced transaction consultants to provide professional support throughout their fundraising process. Deal Officers on the site facilitate contacts with investors.
Amma Lartey, the chief executive officer of Impact Investing Ghana, stated that “the research is clear that growing SMEs can significantly accelerate the achievement of the SDGs.” She also stated that “creating more efficient connections between businesses, local funds, and limited partners could help deploy more appropriate patient capital.”
Innovative systems like Deal Source Africa, which have been built and tested with their users’ help, can help close the SME financing gap much faster.
Etemore Glover, the Chief Executive Officer of the Nigeria National Advisory Board for Impact Investing (Nigeria NABII), made the following statement regarding Deal Source Africa: “Deal Source Africa has the potential to become a major source of financing for companies and local capital providers all over Africa.”
CEO of the Nigeria National Advisory Board for Impact Investing (Nigeria NABII), Etemore Glover, said, “Deal Source Africa has the potential to become a significant source of financing for businesses and local capital providers all over Africa.
Justina Mensah, in charge of the Deal Source Africa program, talked about its successes during the pilot phase. For example, the program helped 94 businesses connect with 18 investors in Deal Rooms and 45 companies get one-on-one help from transaction advisors, which led to 3 investments being finalized.
She asked African companies looking for funding, venture capital funds, and other local sources of capital to sign up at https://DealSourceAfrica.co/.