Jordanian-African Business Association, GroFin sign financing agreement

The Jordanian-African Business Association (JABA) and Jordan’s GroFin, a pioneering private development finance institution, signed a memorandum of understanding (MoU) on Wednesday to provide adequate financing for the expansion and development of small and medium-sized industrial enterprises.

The MoU aims to support the growth potential of the JABA’s members by providing financing and business support services, and launching trade ties between the Jordanian private sector and its African counterpart.

The agreement also aims to exchange expertise and link the JABA with the GroFin’s offices in Africa mainly to help the association’s customers to cooperate in business and trade issues.

On the occassion, Reem Badran, the JABA’s president, who signed the agreement, said the association is keen to find financing institutions that provide financial support and training for its members to help them develop their business, overcome the funding problems, and to facilitate their entry into the African market.

GroFin, established in 2004 and headquartered in Mauritius, specialises in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East by combining medium term loan capital and value-added business support.

Source: Jordan News Agency