MFI Genesis supports entrepreneurs across Guatemala
In 2017 Genesis became the first MFI investee of the Dutch Good Growth Fund track 2 (DGGF) in Guatemala. DGGF’s investment in Genesis aims to support the expansion of loans to small enterprises.
In addition, the Seed Capital & Business Development (SCBD) facility of DGGF is supporting Genesis to establish three Small Business Development Centers (SBDCs) in Sacatepéquez, Poptun and El Quiche. These centers will be offering standardised and tailored support for (new) local entrepreneurs and MSMEs. Businesses may apply for assistance in business plan development, financial management skills, marketing strategy and more.
In many countries, we see a clear need to complement the financial service offering for MSMEs with non-financial support for their professionalisation and long-term growth. These centers will play an important role in bringing business to the next level.
Over the coming three years, the centers are expecting to reach 1500 entrepreneurs and 250 SMEs with their services, of whom a significant portion (50%) will be young entrepreneurs.