TLG Capital, Fidelity Bank to Invest $20 Million in Nigerian SMEs
Private Equity firm, TLG Capital in partnership with Fidelity Bank Plc would be investing the sum of $20 million on SMEs in Nigeria.
The funds will be channelled through TLG’s Africa Growth Impact Fund (ADIF), towards the development of SMEs in the country. Notably, the fund will be directed to SMEs that are focused on healthcare, education, consumer sectors, amongst others.
The new investment is in line with the bank’s move to provide innovative funding options and other forms of relevant support to entrepreneurs in the country.
Recently, Fidelity Bank launched the Fidelity Young Entrepreneurs Fund (FYEF) in Ghana to support existing businesses and startups of young entrepreneurs with financial and non-financial resources to harness social impact potential, build capacity and guide youth-related businesses to grow and scale up their businesses.
The Fidelity Young Entrepreneurs Fund is a project which will provide both financial and non-financial support to enable youth-related businesses to survive and thrive. The focus of this fund is on businesses that are solving a problem in society, employing climate smart adaptation or mitigation climate change processes in their activities and those that are easily scalable. Together with our partners, we will provide training programmes and up to GHC200, 000 in financial support to strengthen and grow selected businesses.