Information for potential Investors

The SANAD Model

Achieving tangible impact in the lives of entrepreneurs in the Middle East and North Africa

Globally, the Middle East & North Africa and Sub-Saharan Africa experience the lowest rates of financial inclusion: Only around half of all adults have access to an account, compared to 94% in high-income economies*.

The SANAD Fund for MSME invests in the ability of local financial institutions to provide much-needed funding to underserved target groups. By directing support to micro, small, and medium enterprises via qualified partners who share our goals, SANAD maintains and creates employment, reduces poverty, builds inclusive financial systems, and increases access to financing – including for housing, agriculture, and financial innovation.

*World Bank Group, Global Financial Inclusion (Global Findex) Database 2017

Sweet dreams

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“We are getting more productive all the time. Maybe one day I’ll even employ 100 people!”

Badeaa Sahi, Owner, Sweets producer
Client of Sandah, Egypt

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A family business grows

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“I find real joy when a customer comes back to do more business with us. When my customer is happy, I am happy.”

Ahmed Zayan, Owner, Al Laban for Dairy Products
Client of Sandah

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On Tour for Women Entrepreneurs

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“By putting female tech talents and entrepreneurs in the spotlight as role models, the Womenpreneur Tour aims to be a catalyst for positive change.”

Jessica Bodmann, SANAD Entrepreneurship Academy
Co-Coordinator of the Womenpreneur Tour

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Developing a Furniture Business

Having learned all there is to know about wicker furniture making from his father, Taher opened his own workshop in…

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“I feel very comfortable with this loan. It allows me to grow my business without taking the savings from my family.

Taher Al Mahshi, producer of Bamboo furniture
Client of FINCA Jordan

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When Pipe Dreams Come True

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“I was too big for microfinance and too small for traditional banks. Thankfully, I was just right for Sanadcom’s tailored financing program.”

Ishaq Soufan, Founder, ESRAR Plastic Pipe Manufacturing Co.
Client of Sanadcom, Jordan

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Balancing Car Wheels

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"Al Majmoua has been my stepping stone to success. It was their financing which helped me to become my own boss and to harvest my talents."

Hassan Khalifeh, Owner, Car tires and rim shop
Client of Al Majmoua: The Lebanese Association for Development

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Taking the Next Step

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“Al Majmoua was always there when I needed them. The three loans they have provided me so far are responsible for both the successes in my personal life, and in the business world.”

Fatima Kamel Metayrik, Graphic Designer and Glass Artist
Client of Al Majmoua, Lebanon

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Expanding a Hair Salon

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“The loan enabled me to purchase new equipment and beauty products. Now I can serve more than one customer at the same time as well as offer a variety of new services in my beauty salon.”

Elham Al-Naser, Owner, Hair Salon
Client of Middle East Credit Company (MEMCC)

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Mixing the Right Ingredients for Success

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“Financial independence was a bold dream. With the Microfund for Women it became a reality.”

Bara’a al-Thawra, Owner, Tabeetna Organic Beauty Products
Client of Microfund for Women, Jordan

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Creating the Smell of Success

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“My first loan from Al Majmoua is the reason behind my success. Their support – and my belief that anything is possible – is allowing me to expand my business.”

Fatima Ahmad Al Bandar, Owner, Sales of Accessories, Gifts and Souvenirs
Client of Al Majmoua, Lebanon

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“Given the evolving, dynamic socio-economic landscape in Egypt, Arab-African International Bank was keen to empower disenfranchised segments and help advance inclusive growth. We took the initiative to serve microentrepreneurs together with SANAD by founding a new microfinance provider: Sandah for Business Finance. We see Sandah not only as a profitable venture but also as another pillar that supports the vision of financial inclusion.”

Nevine Aly Sabbour, Head of Business Strategies & Finance Group
Arab-African International Bank

Unique positioning

SANAD’s strong framework enables investors to achieve development objectives

  • Blended finance fund structure leverages public capital to provide a substantial risk cushion to mobilize private investors
  • Debt and equity financing strengthen local financial sector
  • Financial investments are complemented by technical assistance for nonfinancial support
  • Local regional offices provide on-the-ground market expertise and proximity to partners

“GLS Bank is strongly aware of the economic obstacles the MENA region has to overcome. This is today more apparent than ever before when considering the political and societal instability of several countries in the region. Supporting economic stability and sustainable growth is a core value of GLS Bank, and we consider SANAD a good investment vehicle for investor engagement.”

Karsten Kührlings, Head of Investment Funds & Research
GLS Bank

Capital Structure

Debt Sub-Fund

Equity Sub-Fund

Donors & Investors

The SANAD Fund for MSME is open to public and private donors, international financial institutions, and private investors. As a public-private partnership, SANAD is uniquely positioned to leverage donor funds and mobilize private capital that might otherwise not be attracted to the sector.

Current public investors and international financial instutitions include the German Federal Ministry for Economic Cooperation and Development (BMZ), the European UnionKfW Development BankSwitzerland's State Secretariat for Economic Affairs (SECO)Oesterreichische Entwicklungsbank (OeEB), and the Dutch Development Bank FMO.


The funding provided by the European Union is part of the EU Initiative for Financial Inclusion: “The EU Initiative for Financial Inclusion is a comprehensive programme to help small and medium-sized businesses in the Southern and Eastern Mediterranean regions to become more competitive and grow. Through finance and know-how, we are boosting development and creating jobs.” 

Private investors include GLS Bank, Calvert Impact Capital, Hauck & Aufhäuser Fund Services, and Finance in Motion.


The SANAD Fund for MSME was initiated by KfW Development Bank in 2011 with funding from the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union.

In 2013, KfW joined the fund as an investor.

Investor Factsheets

Invest Factsheets Links

Sanad at a glance English Q3 2019

Contact for Private Investors

HOW CAN YOU GET INVOLVED? Are you an investor looking to make an impact?

We strongly believe that supporting employment generation is of utmost importance to the Middle East and North Africa. When you invest with us, we place your capital to our partner institutions in the region, who lend hardworking people financial and technical support to build businesses, fostering employment and prosperity.

Finance in Motion, a leading impact asset manager based in Frankfurt, Germany, and exclusively focused on development finance, acts as the fund’s advisor.

Become an Investor


Let’s create impact together.

Would you like to learn more about SANAD’s investment opportunities? Please fill out the form and we will get in touch:

  • For donor agencies and international financial institutions investment opportunities, please contact:

    KfW Development Bank
    Ines Ebrecht

    Palmengartenstr. 5-9
    60325 Frankfurt am Main

    T +49 (0) 69 7431 - 3968
    F +49 (0) 69 7431 - 3279
  • For private institutional and semi-institutional investment opportunities, please contact:

    Finance in Motion GmbH, Luxembourg Branch
    43, rue Sainte Zithe
    2763 Luxembourg

    T + 352 (0) 28 99 59 59
  • For Technical Assistance Facility support of donor agencies, international financial institutions and private donors, please contact:

    KfW Development Bank
    Ines Ebrecht

    Palmengartenstr. 5-9
    60325 Frankfurt am Main

    T +49 (0) 69 7431 - 3968
    F +49 (0) 69 7431 - 3279

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