The SANAD Fund for MSME (SANAD) has launched a new sub-fund for equity investments in impactful financial intermediaries in the Middle East and North Africa. Carrying on SANAD’s mission to fuel entrepreneurship and employment in the region, the SANAD Equity Sub-Fund II (SANAD ESF II) mobilizes public and private capital to help build a financial ecosystem committed to supporting the crucial but underserved micro, small, and medium enterprise (MSME) sector.
The ESF II follows on the success of its predecessor, the SANAD Equity Sub-Fund I (SANAD ESF I), which has invested $30 million into five financial institutions across the region over the past six years. Four of these were greenfield investments, and all are committed to providing sustainable financing for entrepreneurs within their countries of operation. Complementing the equity investments, comprehensive technical assistance provided by SANAD has supported these institutions in growing into successful, impactful enterprises. To date, the SANAD ESF I’s combined equity investments have facilitated sustainable financing to MSMEs totaling over $640 million, directly contributing to the creation of more than 2,400 jobs in the region.