EFAfrica Group raises acquires Tanzanian equipment finance business EFTA

EFAfrica Group has raised $12m for regional expansion and acquired Tanzanian equipment finance business EFTA. The funding was raised from investors including KfW on behalf of the German Federal Ministry for Economic Cooperation and Development, the Small Foundation and the Mennonite Economic Development Association. EFTA’s shareholders, including AgDevCo and Equity for Africa, will become shareholders in EFAfrica Group. EFTA’s financing has directly or indirectly supported over 10,000 jobs, with 64% of its borrowers in rural and mixed-rural areas.