Injaro invests in small and medium sized business in West Africa that are managed by teams that seek to grow their businesses profitably. Our core target countries are Ghana, Mali, Burkina Faso, Niger, Sierra Leone, Liberia, Guinea and Côte d'Ivoire. We prefer to invest in businesses within ECOWAS countries whose strategies exhibit a strong import substitution or local value-addition theme. We expect many agri-businesses to fit this profile.
Does Injaro provide grants or soft loans?
Injaro aims to achieve double-bottom line returns, both financial returns and a positive social impact, in its investments. We therefore support commercially viable businesses that have positive social impact in the communities in which they operate. We do not provide grants or soft loans but we may provide technical assistance to our investee companies.
Does Injaro prepare business plans for entrepreneurs?
We believe that entrepreneurs are more likely to be successful in executing their own business ideas and therefore strongly encourage entrepreneurs to approach us with their own business plans. However, we will assist and guide the entrepreneur to refine his/her business plan in order to assist the company to achieve its potential.
What are the criteria for investment?
Injaro looks for entrepreneurs with strong track records that demonstrate capacity to successfully implement a growth strategy. For going concerns, we would expect audited accounts showing evidence of historical performance. We would also need to see a business plan that clearly shows how the company would achieve its objectives. Most importantly, we need to be satisfied that the company has the right people in place to implement the business plan.
What interest rate does Injaro charge?
Injaro does not charge a fixed interest rate. Investment instruments are customised to match the risk-return profile of the business. Injaro aims to structure deals that are fair to entrepreneurs while providing appropriate rewards to investors.
How does an entrepreneur apply for finance from Injaro?
Telephone enquiries may be made at any Injaro office in Abidjan and Accra. Alternatively applications may be made via email to email@example.com.
How long does it take for an application to be approved?
Entrepreneurs who submit a business plan are advised within days whether their application for finance meets the broad investment criteria. Deserving entrepreneurs will be assisted and guided until such time that the proposal has been developed into a quality business plan. This process is driven by the entrepreneur's responsiveness to requests for information that is used to prepare the Initial Investment Proposal for the consideration of our independent Investment Committee. Approval by the Investment Committee triggers the due diligence and deal closing process. The time from receipt of the entrepreneur's business plan to approval is generally two to three months.
After approval by the Injaro Investment Committee, how long does it take for the money to be paid out?
The money is paid out as soon as all legal requirements contained in the term sheet (for example bond registrations, loan agreements and insurance policies) are in place.
In which industry sectors does Injaro invest?
Injaro invests in sectors ranging from primary agriculture to agribusiness through to services that support the agricultural value chain. Injaro does not invest in casinos, explosives or similar industries. For details of our full exclusion list, please contact us.
If a business enters into a shareholder agreement with Injaro, at what stage can the business purchase the shares that Injaro holds?
The redemption of shares would depend on what terms are included in the shareholder agreement. Typically Injaro would structure deals that enable the entrepreneurs to redeem instruments at pre-agreed levels at any time during the holding period.
What is the average repayment period?
The repayment period may range from three to seven years. The average repayment period is between four and five years.
Does Injaro become a shareholder in the company?
Injaro typically invests in the equity of the company as part of a deal structure that includes debt and/or quasi-equity instruments. However, Injaro may consider an equity-only investment where there is a clear exit strategy.
In cases where Injaro does take a shareholding, is the group involved in the day-to-day operations of that business?
Injaro generally agrees to take non-executive board positions in all of its investees. This is to facilitate Injaro's ability to provide ongoing guidance and support to the executive team with a view to improving the chances of the company achieving its objectives. Injaro will however not be involved in the day-to-day activities of the business. Injaro's decision to invest in a business will therefore depend to a large extent on the quality of its management team.
Does Injaro ever take a controlling interest in a company?
As a policy, Injaro does not acquire a controlling shareholding in its investee companies. This however may occur in exceptional circumstances.