Covid-19 is here with us. Who would have thought a single virus could ever affect every aspect of our lives? We are all asking these question, most of us may have found some solace and reorganized our lives to befit these times. What about entrepreneurs? Then they have to carry double the burden, one on their personal lives and the other of keeping their businesses running such as; keeping their employees, keeping their customers, paying their suppliers, paying their taxes, Repaying their loans, the list is endless! Here in the Netherlands there Has been a lot of support for entrepreneurs thanks to the many possibilities fronted by the Dutch government. For the entrepreneurs in Africa where we operate this is not the case, they still carry the burden with little or no support at all.
At Zidi we have tried our best to support our SME’s in Kenya, Ghana & Ethiopia mostly through advise, repayment holidays and restructuring where possible. We have given top priority to Healthcare businesses and businesses providing essential services because we believe they are in the forefront of fighting the pandemic , but our resources are limited and we have no extra buffer in place to give them the extra resources that they need. That’s is why we have created this kitty , “Covid-19 SME Technical Assistance Fund”.
The TA Fund
We envision it just as that, a facility that will help these businesses Survive at least during this pandemic. Together with our partners , we hope to support the most needy businesses. This is not a regular funding facility, we are only giving businesses a temporary reprieve to remain operational until the pandemic is over. The businesses will not pay interest, but they must start repaying at least 50% the funds once their business recovers, thus making this fund revolving to be able to always support businesses alongside normal funding. Each business will receive an amount of between €1000 to €5,000 depending on the need. We therefore intend to keep over 200 businesses operational. We are Primarily focusing on countries where our Businesses are already located namely ; Ghana, Kenya & Ethiopia. Then we shall expand this list where logistical and legal horizon permits.
Fund Management
Normally our SME fund is managed through Guideplus Sustainable Fonds BV licensed by the Dutch Central Bank and the Financial Markets Authority in the Netherlands. Our management company remains Zidi BV and we have offices in Accra-Ghana and Nairobi-Kenya. Because these funds are not repayable to donors no interest will be charged. We intend to manage the fund as if it were a regular fund and prioritize accountability and transparency. All donors will therefore be informed with proper reporting.
We hope we have informed you sufficiently, now please join us and let’s keep 200 businesses in Africa survive by donating here
Would you like to partner? Send us an email to info@zidicircle.com