By D E Wasake, FCCA, Principal Inachee.com

Basic information

Target:

Early and Growth Stage companies

Sector focus:
  • Agri-Business
  • Healthcare
  • Light Manufacturing
  • Financial Services
  • Oil, Gas & Mining Services

Amounts provided:

$ 50,000 -  $15M

Funding type

Venture Capital

Key criteria

·         Profitability. Whether less than 3 years or more than 3 year’s operations. They need to see a profitable company.

·         Ambitious, strong management team

·  Well run companies that adhere to good corporate governance

Further information

www.fanisi.com

Fanisi Capital Limited
e-mail: talktous@fanisi.com

 

Who is behind the fund?

Fanisi Capital is a $50m fund that was founded in 2009 based on funding from the Norwegian Investment Fund for Developing Countries (Norfund) and IFC, a member of the World Bank Group.

It is managed by Amani Capital Limited, also one of the founder members.The fund focuses on early stage and growth companies in the East African markets of Kenya, Tanzania, Rwanda and Uganda.   

Those companies need to have started earning revenue and become profitable.  If less than 3 years old, they should be at a stage where they are achieving a profit. If more than 3 years old, they need to have at least 3 years of profit.


It does not focus on start-ups (those at concept stage and with no revenue).

What is the application process like?

Fanisi prefers simplicity. In their own words:

Email your Executive Summary to talktous@fanisi.com “The best plans are the briefest. For your executive summary; a one-pager is just about right. It will help you outline your business in a clear way; plus saving time works for us too!”

You can easily fill in a form online or download one at the link below:

http://www.fanisi.com/index.php/index/fund_qualifier

Thereafter, whilst not detailed on the website, we expect the process will be as follows:

  • If they are interested, it is more likely that they will then request for a detailed business plan;
  • Thereafter they will follow this up with a face to face meeting to assess the opportunity and importantly, the team’s strength and ambition;
  • Once they approve in principle, the other aspects include the due diligence and closing.
  • At closing the fund expects to take a strategic minority or majority share in the target company (say 25-49%).

Our tips for success

Board meetings. Ensure that you have corporate governance practices in place. This means for example regular meetings by the Board of Directors (BOD). It means having an independent person attending your board meetings (non executive director).  As it is backed by NORFUND and IFC, you can expect this is a minimum including compliance with IFC Performance Standards.

Deliver value for shareholders. The company’s vision should clearly show how it will deliver value for shareholders. This is clearly articulated in what Fanisi is looking for. They clearly say:

“….a clear value proposition and a proven ability to create shareholder value.”

Likewise about one of their key portfolio companies, Sophar Limited they highlighted that:

“….With a unique semi-cooperative structure and successful business model - shareholders are the main customers.”

Otherwise best of luck!  If you need assistance, contact our team

Disclaimer

Inachee is not an agent or connected to this entity. It is an independent thought leadership and advisory firm. The information provided is based on our research, experience and if we are able to contact them, by speaking to this entity’s personnel. Whilst we have taken steps to ensure the accuracy of the information presented here, there can be no guarantee that it will remain accurate.