GWAMDC
Introduced in 2011, Goodwell West Africa Microfinance Development Company (GWAMDC) marked our official entry into the African market. Formed in partnership with Alitheia Capital in Nigeria and JCS Investment in Ghana, GWAMDC focused on investing in emerging and established microfinance institutions (MFIs).
Enabling financial inclusion in West Africa
Upon reaching its final close in 2014, GWAMDC raised EUR 12.3m and invested in six MFIs in West Africa, furthering the cause of financial inclusion for individuals and small businesses in Nigeria and Ghana. Alongside financial support, Goodwell and the fund’s partners provided input and assistance with governance, growth planning, and technology and innovation to enable the companies to sustainably scale.
In line with Goodwell’s patient capital approach, two of the portfolio companies later received follow-on funding from uMunthu, our first pan-African fund. GWAMDC has now realised three exits, and a clear exit pathway is in place for the remaining companies.
€12.3m
Total raised
2011
Launched
2014
Closed
2
Countries
6
Portfolio companies
3
Exits
Portfolio companies
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