Press Release


LUSAKAJuly 8, 2019 – Rent to Own (RTO), a Zambia-based business providing productive-use assets to rural SMEs, today announced that it has secured an investment of EUR 1.0M from the Seed Capital and Business Development facility of the Dutch Good Growth Fund (DGGF) managed by Triple Jump BV.  Building upon convertible notes recently secured from longtime partners Small Foundation and Lundin Foundation (managed by AHL Venture Partners), this investment will be used primarily as working capital to more than double the company’s portfolio of rural Zambian entrepreneurs.  

RTO provides high-impact assets to rural entrepreneurs and smallholder farmers in Zambia.  Offering a unique “all-in-one” package of uncollateralized financing, delivery, installation, and equipment training, the company empowers its clients to grow their businesses and improve their quality of life.  RTO’s flexible, tech-enabled platform also provides a route-to-market for equipment suppliers and supports the rapid adoption of innovative assets, such as solar-powered irrigation pumps. To date, RTO has financed over 7000 high-impact assets in Zambia and has achieved a 96% repayment rate since inception.  

“Our purpose at RTO is to unlock the potential of rural entrepreneurs to improve the quality of life of their families and communities.  We are extremely excited by the opportunity provided by DGGF to continue to focus on this mission and rapidly grow our loan book despite the tough economic conditions we are currently experiencing in Zambia”, says Jeffrey Scheidegger, CEO.       

DGGF is a fund of funds investment initiative from the Dutch Ministry of Foreign Affairs that invests in funds and financial intermediaries that provide capital to SMEs. Through its seed investment in RTO, DGGF will help support rural SMEs to improve livelihoods and develop sustainable income sources.

RTO engaged Open Capital Advisors, a management consulting and financial advisory firm based in Africa, to provide investment-readiness and transaction advisory support for this deal.

About Rent to Own (RTO)

Founded in 2010, RTO is a for-profit, socially conscious company that provides uncollateralized finance and last-mile distribution to provide productive assets to rural businesses across Zambia. In addition to providing clients with uncollateralized financing and delivering to the client doorstep, RTO offers tailored financing structures and training services on the use and maintenance of the assets. For more information visit,

About Triple Jump

Triple Jump is an investment manager specialized in impact investments in emerging markets. The firm manages over EUR 800M of assets through a variety of investment vehicles that provide private debt and equity to funds, financial institutions, and companies providing and/or enabling inclusive finance. Currently, Triple Jump manages five investment funds for investors such as foundations, philanthropic investment firms, government, banks, and individuals. Founded in 2006, the firm is headquartered in Amsterdam, the Netherlands, and has local offices in Bangkok, Lima, Nairobi, Mexico City, and Tbilisi. For more information, visit

About AHL Venture Partners

AHL is a venture capital firm managing several different funds, including impact investments on behalf of the Lundin Foundation. The firm’s philosophy is to invest in innovative businesses across Africa that increase their impact as they grow. AHL invests in multiple sectors including energy, financial inclusion, food and agriculture, human capital, and frontier markets. To date the firm has invested in over 35 impact focused businesses in 25 countries in Africa. For more information, visit

About Small Foundation

Small Foundation’s goal is to catalyze income-generating opportunities for extremely poor people in sub-Saharan Africa.  The Foundation does this by supporting initiatives working on the provision of skilled human resources, technical assistance, and finance to micro, small, and medium enterprises. This support is focused on models that are effective, scalable, and sustainable. For more information, visit

About Open Capital Advisors

Open Capital Advisors (OCA) is an Africa-based management consulting and financial advisory firm with a mission to advance local economies and build the future generation of business leaders. The team of over 120 staff across Kenya, Uganda, and Zambia help businesses, investors, development partners, and the public sector identify opportunities and deliver unique, impactful solutions. Since 2010, OCA has completed over 500 engagements across more than 20 countries in Sub-Saharan Africa. For more information, visit

Media Enquiries

Lori Manthey, Head of Finance, Rent to Own Zambia Limited, +260968005059

Categories: Business


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