Tanzanian finance company, which provides SME businesses with equipment leases in local currency without the need for collateral.
EFAfrica Group is an equipment leasing company serving over 1,500 smallholder farmers and SMEs across Kenya, Tanzania and Zambia, many of whom lack the formality and collateral requirements sought by regular banks. Popular leases include trucks, tractors and other agricultural equipment, with a typical value of between $10,000 and $80,000.
AgDevCo has invested $17.5m in several rounds to fund expansion with the first investment dating back to 2014. AgDevCo’s investments have been in the form of debt and equity, thereby enabling both lease book and core capital growth for continuous expansion. AgDevCo remains committed to supporting EFAfrica's future growth, including having both AgDevCo representatives on the company boards and committees, as well as by providing technical assistance and specialist support. Through its TA programme, AgDevCo has provided fraud prevention training to increase company capability and capacity to prevent and detect business integrity issues and fraud.
Funding for the future
AgDevCo's 2014 investment helped enable EFTA to obtain a leasing license from the Bank of Tanzania, which it retains to this day.
AgDevCo's initial investment has seen substantial subsequent investment from other investors, an example of how AgDevCo investments leverages impact and private capital.
In 2025 AgDevCo provided EFAfrica's parent company, which holds a Mauritius FSC cross-border leasing license, a structured financing solution that has allowed EFAG to provide leases to agribusiness corporates.
With EFAfrica's continued growth and strengthening balance sheet, further funding is expected to be deployed and catalysed.
At an operational level, financial inclusion and resultant access to equipment has led to a substantial increase in agricultural mechanization and productivity, and over 13,500 FTE jobs have been created alongside improved regional food security.
| Investment | Total invested | Start date |
|---|---|---|
| Africado | - | 2019 |
| EFAfrica Group | $17,500,000 | 2015 |
| Pee Pee Tanzania Limited (PPTL) | $2,500,000 | 2020 |