Deal Source Africa launched to connect African businesses with investors and transaction advisors
Deal Source Africa (https://DealSourceAfrica.co/), a comprehensive program that connects African firms with investors and transaction consultants, as well as African Impact Funds with investors, was officially launched yesterday at the West Africa Deal Summit in Accra. The program will help African SMEs, particularly those with strong development potential, bridge the $331 billion finance gap by providing solutions targeted to their specific company needs. Businesses and funds can sign up for access to the platform at https://DealSourceAfrica.co/, which was developed with assistance from UKAid’s Research and Innovation Systems for Africa (RISA) Fund and will be trialled in 2022.
Deal Source Africa is a digital platform that links investors and entrepreneurs, as well as in-person and virtual 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.
“The research is clear that growing SMEs can significantly accelerate the achievement of the SDGs and that creating more efficient connections between businesses, local funds, and limited partners could help deploy more appropriate patient capital,” says Amma Lartey, CEO of Impact Investing Ghana. Innovative platforms, such as Deal Source Africa, that are designed and tested in collaboration with their users, can thus significantly accelerate the bridging of the SME funding gap.
“Deal Source Africa has the potential to become a significant enabler of financing for businesses and local capital providers across Africa,” stated Etemore Glover, CEO of the Nigeria National Advisory Board for Impact Investing (Nigeria NABII). We are pleased to work with IIGh on this program and to see it spread across Africa through our partners in other countries. Africa-wide platforms with strong local partners are required to close the finance gap that our businesses face.
Justina Mensah, the program’s leader, shared the program’s successes during the pilot phase, which included connecting 94 businesses with 18 investors in Deal Rooms and connecting 45 businesses to transaction advisors for one-on-one support, which resulted in three investments being finalized. She encouraged African firms seeking finance, venture funds, and other local capital providers to register at https://DealSourceAfrica.co/.
