Good News For SMEs

GroFin, a multi-national finance and development company has announced a comprehensive package to support Small and Medium-scale Enterprises (SMEs) in the country.

The specialist finance company says it would provide funding and business development assistance to entrepreneurs to help them grow their businesses.

According to a World Bank report, high interest rates, poor management, and inadequate working capital are the major impediment to the growth of SMEs.

Mathias Dorfe, General Manager, GroFin said his outfit intends to provide SMEs in Ghana with solutions that would increase their chance of survival. “Whilst we provide financing support, we offer business development management to the companies. We will be part of the company till it reaches a matured growth level.”

SMEs with financing of between $50,000 and $1 million, gross assets that are below $3 million, a turnover not exceeding $5 million with less than 100 employees qualify to receive support from GroFin.

GroFin supports business start-ups, expansions, business purchases or acquisitions among others, Mr. Dorfe added. “At GroFin, we work in a friendly but professional way to champion the needs of SMEs. We have assisted 185 businesses across Africa with finance totaling $72 million including $1 million to seven businesses in Ghana.”

Mr. Dorfe explained that it was committed to entrepreneurs in Ghana that are looking to start a new business or grow their existing businesses. “Passionate about the challenge of growing your business, we offer you access to flexible finance, complimented by dedicated business development assistance,” said Mr. Dorfe
Guido Boysen, GroFin’s Chief Investment Officer stated: “Ghana’s growing economy will no doubt get a further push from a buoyant SME sector and GroFin is here to power this sector to play its rightful role in the economic development of the country.”

The company wants to develop a holistic offer to support SMEs in Ghana at a critical juncture.
GroFin is an acronym for Growth Finance and reflects the company’s passion for delivering long-term finance solutions and support services that are designed to meet the growth needs of SMEs.

Source: D-Guide