Goodwell West Africa Microfinance Development Company I

Goodwell West Africa Microfinance Development Company I (GWAMDC) is a business development company for the microfinance sector in Nigeria and Ghana.

Goodwell West Africa I invests in entrepreneurial microfinance organizations on a socially and commercially sustainable basis. It is managed by a joint venture partnership between the Goodwell team, Alitheia Capital in Nigeria and JCS Investments in Ghana.

GWAMDC had its final closing in June 2013 and raised EUR 16 million from investors. Investors in GWAMDC are Goodwell Microfinance Development Company II, KfW and NMI.

Microfinance in the Anglophone West African countries of Nigeria and Ghana is beginning to emerge as a viable, prosperous, and growing industry. Of those living below the poverty line, the majority remain financially excluded, producing a massive potential demand for microfinance. In spite of the eager market, microfinance has been relatively slow to take hold in West Africa in comparison with similar regions elsewhere in Africa, Latin America or Asia. The sector in this region is now catching up rapidly. The combination of recently found political stability, market potential, entrance of international microfinance networks and increased experimentation in institutional products and services has started to attract the interest of commercial investors.

Penetration is estimated at less than 20%. The region is estimated to require around USD 500 mln of fresh equity capital and over USD 1 bln of debt in the coming years, the vast majority of it in Nigeria.

Management Board

  • Wim van der Beek
  • Nousrath Bhugeloo
  • Knut Frigaard
  • Devananda Naraidoo
  • Veronika Quinzler
  • Alexandra Schaapveld

Investment committee

  • Wim van der Beek
  • Nousrath Bhugeloo
  • Ben Zwinkels

Portfolio

PAGATECH / NIGERIA

Paga is a mobile money platform that disrupts traditional banking products by providing financial services to 3,600 SME clients and...
> more

Mainstreet Bank / Nigeria

As one of the largest micro-finance banks in Nigeria, Mainstreet Bank offers micro-finance banking services to 62,000 customers. Specialising in...
> more

WOMEN’S WORLD BANKING / GHANA

Since 1998, WWBG has served low income SME businesses, with a focus in female entrepreneurs. WWBG impacts over 70,000 clients...
> more

NWABIAGYA RURAL BANK / Ghana

NRB is a community owned financial institution that offers banking products to low income earners throughout areas of peri-urban and...
> more

MICROCRED NIGERIA / Nigeria

Microcred Microfinance Bank Nigeria dispersed its first loans in 2010. Today the company serves 34,082 clients throughout 7 branches in...
> more

GN BANK (EXITED) / GHANA

GN Bank offers innovative financial products in addition to traditional banking services at 200 locations across 10 regions of Ghana....
> more

Governance

Goodwell Investments BV

Amsterdam, The Netherlands
Herengracht 201 | 1016 BE Amsterdam
(+31) 85 273 7462 | info@goodwell.nl | @Goodwellinvest

 

Cape Town, South-Africa
19 Kent Street | Room 209 Salt Circle, Salt River
(+27) 21 4475949

© Goodwell Investments