Regional Education Finance Fund for Africa (REFFA)
Education
- Invest in future generations
- First regional education finance fund for Africa
- A KfW initiative on behalf of BMZ*
Our investment goals and strategy
Access for all
The fund supports the improvement of quality and affordability of education across Africa. It aims to provide equal access to secondary, vocational, and higher education, thus positively impacting future generations.
Responsible support
We respond to demand in the education sector in a sustainable and socially responsible way by supporting customised financial services.
A wide reach
As the first regional educational fund of its kind for Africa, the scheme is already reaching thousands of education providers, learners, and students – making a real, tangible difference.
Fund characteristics
| Fund inception | December 2016 |
| Asset class | Private debt (blended finance) |
| Status | Fundraising |
| Target return* | 6 month SOFR + 1.85% |
| Liquidity | Closed-end |
| NAV frequency | Quarterly |
| Domicile and legal structure | Luxembourg, SICAV-SIF, S.A. |
| SFDR classification | Article 9 |
| Investment manager | BlueOrchard Finance Ltd |
| Depositary | Citibank Europe Plc Luxembourg |
| Administrator | Citibank Europe Plc Luxembourg |
| Technical assistance | Financed by KfW on behalf of BMZ |
| Backed by | KfW Entwicklungsbank BMZ |
**All investments involve risk. We note specifically that past performance is not an indication of future results.
External fund website: www.reffa.org
SDGs addressed
Core SDGs
Aligned SDGs
Core SDGs: Core SDGs are those that address the impact intent and/or sustainability investment objective of a given fund.
Aligned SDGs: Aligned SDGs are those that the fund’s investees promote through responsible ESG management practices.
Impact KPIs
Contact
Demand-driven education finance
How Lethsego Botswana is cooperating with REFFA's TAFThe objective of the REFFA technical assistance facility (TAF) is to strengthen the capacity of REFFA partner institutions to provide demand-oriented financial services to the education sector. To achieve this, REFFA investees are strengthened in their capacity to develop and implement demand-oriented education loan and savings products, pursuing both economic and social objectives. One of the REFFA investees benefitting from TAF is Letshego Botswana, a credit-only microfinance institution. The institution intends to offer dedicated loans to private education providers and customised tuition loans to parents. The TAF supports Letshego in market assessment and feasibility, as well as in developing new products and improving existing ones.