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Invest in female entrepreneurs in Bosnia & Herzegovina

Invest in 

female entrepreneurs 

The European Fund for Southeast Europe (EFSE) facilitated loans to support women-led MSMEs in Bosnia and Herzegovina through its investees. 

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Measurable Impact

€8.3M

in loans disbursed to support MSMEs

 

 

 

Figures as of Q4 2024

The use of proceeds

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The European Fund for Southeast Europe (EFSE) enables business growth and innovation by providing crucial financing for startups in challenging environments. Through its support, the fund facilitates loans that help businesses access the resources needed to expand and succeed.

 

Purpose of the partnership between EFSE and Sparkasse Bank 
Through its partnership with Sparkasse Bank, EFSE expands access to financing for MSMEs, fostering economic activity and job creation in Bosnia and Herzegovina. The bank’s strong local presence and commitment to financial inclusion make it a key ally in advancing EFSE’s mission of promoting sustainable growth and gender equality.

Impact of the partnership

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Bosnia and Herzegovina is facing rising youth unemployment and an outflow of young talent to Western Europe. EFSE’s investment has enabled Sparkasse Bank to support MSMEs like Sugar on Top Ltd, driving local economic growth. Vital activities include:

  • Facilitating business expansion
  • Creating jobs, supports local production, and empowers rural women through strategic collaborations
  • Helping businesses overcome challenges of operating outside the EU, such as bureaucracy and delivery issues 

 

Support beyond the investment
EFSE’s advisory and capacity building service provided a collateral deposit and mentoring support to the bank. This helped businesses like Sugar on Top Ltd, as part of the MOZAIK Startup Studio Program, receive crucial support, including 12 weeks of training on financial analysis, sales, marketing, and pitching.

As a 100% female company, we’ve built a work environment where satisfied employees thrive—and every one of us is a mother.

Edina Hadžić i Sabina Muratagić-Daul | Founders of Orangetree

Impact Spotlight

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During the COVID-19 pandemic, Sabina Muratagić-Daul and Edina Hadžić started Sugar on Top Ltd in their attic. With a loan from Sparkasse Bank, facilitated by EFSE, they purchased their first sewing machines, created their own development and production studio, and launched Orangetree, a brand dedicated to mothers and babies. Now the business has five employees and products in 90 stores across Bosnia and Herzegovina and Croatia.

Sabina and Edina have been recognized by the Ministry of Economy of Sarajevo Canton for advancing female entrepreneurship. They plan to expand their brand across Western Europe, breaking barriers for Bosnian companies.  

Fund information

The funds, sub-funds and securities described herein (or in any other linked or related website) are not being offered for sale to the public in the United States of America or in any other jurisdiction in which a public offer would be prohibited by applicable law. To the extent funds, sub-funds and securities described herein (or in any other linked or related website) are being offered in these jurisdictions (some of the funds, sub-funds and securities may not be offered in certain jurisdictions), they will only be offered by private placement to a limited number of qualified institutional investors in accordance with the applicable laws and regulations in these jurisdictions. Offers will only be made pursuant to a private placement memorandum approved by the funds. Institutional investors in these jurisdictions that wish to learn more about the funds, sub-funds and securities should contact the persons listed below for further inquiry.

Special notice as regards the European Fund for Southeast Europe, the Green for Growth Fund and the Latin American Green Bond Fund: In respect of the United States of America, Canada, Japan or Australia or any other jurisdiction in which the distribution, offer, sale, transfer or resale would be prohibited by applicable law, no investment in notes/shares or other instruments of these funds (or their respective sub-fund(s)) can be offered or made.

All funds are managed or advised (as the case may be) by Finance in Motion Asset Management S.à r.l., a Luxembourg-based Alternative Investment Fund Manager directly supervised by the Luxembourg regulator, the Commission de Surveillance du Secteur Financier (CSSF).

  • Finance in Motion Asset Management S.à r.l.
  • 68, Bd de la Pétrusse,
  • L-2320 Luxembourg