Business Partners Limited commits US$ 6 million to BPI East Africa LLC
Business Partners International (BPI) has just launched its next generation of funding for SMEs in Africa by inviting like-minded investors to participate in the establishment of Business Partners International (East Africa) LLC. This is a US$30m investment company for family owned small and medium enterprises (SMEs) in East Africa, initially in Kenya, Rwanda and Uganda, with the potential to expand into other countries in the region.
Spurred by BPI’s initial success in Kenya and Rwanda, Business Partners Limited, has committed the first US$ 6 million (or 20% of total Commitment) to this exciting new venture – a clear indication of the faith it has in BPI’s ability to replicate the successful model in other African countries, and, its positive outlook on the East African opportunity.
Business Partners International East Africa will encourage entrepreneurship, facilitate job creation and contribute to small enterprise development by providing access to risk capital funding and technical assistance and mentorship support to SMEs in East Africa.
“Business Partners International East Africa will offer investors an opportunity to receive financial and social returns for contributing to sustainable socioeconomic development in the East African region,” says Mark Paper, Chief Operating Officer at BPI.
Business Partners International East Africa will consolidate Business Partners’ experience into an attractive investment opportunity for both Business Partners and other like-minded investors, to gain portfolio exposure in an underserved segment of the business in East Africa while contributing to the region’s development by seeking to:
- pursue an investment strategy that aligns itself with Africa’s growth, generates stable returns for investors, supports wealth creation for family-owned SMEs and promotes sustainable development in local communities;
- provide entrepreneurs with committed partnerships through mentorship;
- offer innovative risk finance solutions to firms that cannot access capital elsewhere; and
- further demonstrate the portability of the Business Partners Limited model which has been so successful deployed in South Africa, Kenya and more recently in Rwanda.
Despite the many challenges that African entrepreneurs face, they often manage to overcome these and succeed in various industries, which contributes positively to the economy of their respective countries. “SMEs will play a critical role in the economic growth that is expected on the African continent and the finance that we will offer through Business Partners International East Africa will contribute towards supporting this growth and job creation in Africa,” concludes Paper.
For further enquiries please contact Mark Paper: email@example.com