MEMBERSHIP CATEGORIES

ASFIN brings together national, regional and international development finance institutions, NGOs, private foundations, industry associations, professional firms, microfinance institutions, banks, insurance companies, venture capital firms, private equity fund managers, and several other impact investors and financiers, regulators, policymakers and  engagement practitioners with whom you can share ideas and opportunities and for the growth of the SME ecosystem in Africa. 

ASFIN's membership is open to any of these institutions or companies that comply with the eligibility requirement outlined below.

While the primary constituency and owners of ASFIN are SME finance institutions in their diversity, other organisations in the wider financial ecosystem which may not be defined in the narrow sense as “SME investors” but which account for the overall strength of African SMEs are also welcome. Being a member of ASFIN will allow your institution to further develop its potential and gain greater recognition. Membership will also allow your institution to demonstrate its commitment to working collectively to contribute to the growth of African SMEs.

Membership Categories

ASFIN currently offers two Membership categories:

(a) Full Corporate Membership:

• Full Corporate Membership is open to any development finance institution, NGO, private foundation, government agency, institutional investor, investment firm, microfinance institution, bank, insurance company, venture capital firm, private equity fund manager, registered by law established in any African country and or based abroad but has interest in SME Finance and willing to promote the objectives of ASFIN and to fully subscribe to the Constitution, Regulations and Bye-laws, and the Code of Professional Conduct of ASFIN and would like to participate in all its activities.

(b) Associate Membership

• Affiliate Membership is open to organisations with similar objectives as ASFIN, such as research institutions, professional bodies, angel networks, academic institutions, chambers of commerce, industry associations, and other interested groups operating in Africa or based outside Africa but want to affiliate or associate with ASFIN.

Membership Terms and Dues

Membership is renewed annually and members pay Membership and Subscription dues upon first becoming a member and then annual subscription by 1st January of each calendar year.

Annual Membership Fees

The membership fees are structured according to categories. Previously, membership was free. Effective January 2023, all existing members and new members will be charged a moderate membership registration and annual subscription fees to help cover administration and operational costs of the organisation as follows:

• Gross revenue per year or less $1 million = $500/year
• Gross revenue per year $1 million - $10 million - = $2,500/year
• Gross revenue per year $10 million - $25 million - = $5,000/year
• Gross revenue per year $25 million - $50 million = $10,000
• Gross revenue per year $50 million - $100 million = $15,000
• Gross revenue per year $100 million - $1 billion = $20,000
• Gross revenue per year more than $1 billion = $25,000 

Multi-year Membership Fees: Where applicable, members and potential members that wish to pay multi-year membership and subscription fees are allowed to. This can be done by calculating the number of years they're paying for. For example, a Member may pay: $500 X 3 years = $1,500. 

If a Membership Application is successful, an invoice will be forwarded to you for payment.

Please Note: Failure to pay membership fees for 1 year gives the Executive Committee the power to exclude the member from the Network as member.

Requirements and Application for Membership

Joining the Network has been made easy. Kindly complete the Online Membership Application Form together with the following:

• A copy of your company brochure/profile. (*Optional/If available).

When the application and other documents are received, a staff of the Membership Team will contact you for additional information where necessary. And upon the Approval of Membership, you'll receive  the official membership approval letter together with a Membership Certificate. 

N.B: Members do not become liable for any of the obligations and liabilities of the Network solely by virtue of their status as members of ASFIN.