Babban Gona, Nigeria’s Social Enterprise Firm Gets $5 Million IFAD Loan
By Ibrahim Apekhade Yusuf
One of Nigeria’s foremost social impact enterprises, Babban Gona has received the first loan of US$5 million by the UN’s International Fund for Agricultural Development (IFAD).
IFAD’s new investment initiative is a Private Sector Financing Programme (PSFP) to spearhead an increase in much-needed private investment in small and medium-sized enterprises (SMEs), farmers’ organisations and financial intermediaries servicing small-scale farmers, which are too often neglected by investors. It will provide loans, risk management instruments (such as guarantees), and equity investments.
Photo courtesy of International Institute of Tropical Agriculture.