This case study highlights the decade-long partnership (2016–2025) between Small Foundation and EFAfrica Group (EFAG). By deploying a mix of seed funding, equity, and debt, this collaboration transformed a niche social lender into a commercially viable financial intermediary supporting rural MSMEs across Tanzania, Kenya, and Zambia.
Over nine years, Small Foundation’s partnership with EFAfrica Group and other investors has helped transform it from an early-stage social lender constrained by misaligned capital into a commercially viable financial intermediary demonstrating profitable, scalable equipment finance for rural SMEs.
