MDF West Africa Ltd.

With EUR 300,000 MDF will design, build, manage, exploit, and maintain a faecal waste treatment plant and 6 public sanitation blocks.

  • Direct investment
  • 30 new jobs
  • 300000 people reached



24 months



Annual interest
Fully funded in 2 days on 28 November 2018.
+ 457 other investors

IMPORTANT NOTE: high risk product - direct loan to renewable energy product distribution company. No local financial institution in between to cover risks.

Basic info:

Issuer:                         Management for Development Foundation West Africa Limited
Currency:                    EURO
Amount:                      300,000 senior debt
Maturity:                      24 months, semi-annually and linearly amortizing        
Interest rate:               8 % p.a.

Direct loan

This is a direct loan to a company (rather than lending to a financial institution) and therefore it is recommendable that you are careful with the amount you will invest. 


The company

From the introduction of the first project management training in 1984 a whole range of training and consultancy services in the area of project, programme and organisational management followed. In the next 15 years MDF gained significant experience as learning facilitators through its training and consultancy services. By then it was time to widen the geographical spread of services by creating a second office in Sri Lanka. In 2000 the name grew into ‘MDF Training & Consultancy’. We kept the well-known acronym ‘MDF’ followed by its core services ‘Training and Consultancy’. More offices followed and now MDF Training & Consultancy has offices in Sri Lanka, Vietnam, Indonesia, Bangladesh, Myanmar, Belgium, DR Congo, Kenya, and Ghana. Meanwhile, the MDF Training & Consultancy in the Netherlands remains in Ede, where it all began. 


With the loan, Management for Development Foundation West Africa will be able to participate in the The Special Treat Project (TST). TST aims to improve the living conditions of 300,000 people in Nsawam, Ga Central and Ga West (Ghana), through improved sanitation, waste water treatment, re-use of energy and the sales of compost. In de context of the project 6 public sanitation blocks,  feacal waste treatment plant become operational from January 2019. The project will have an enabling environment programme, offering capacity building and organisational development to implementing and enabling parties and public awareness and behaviour change to the inhabitants of the project areas

The current situation in the region is as follows:

The municipalities Ga Central and Ga West in the Greater Accra Region, as well as Nsawam in Akuapim South in the Eastern Region house circa 529,557 people (census 2010), a number that is expected to rise to 800,000 by 2020 (based on the current growth rate of 4.2%).

However, the development of sanitation has not grown at the same pace and is lagging behind, as revealed by a baseline study carried out by Ecorys in 2013. The study stated that in Ga West and Ga Central only 37% and 60% of the population respectively has access to improved sanitation. Waste water treatment is almost non-existing in the area, with data showing that, in the Greater Accra Metropolitan Area (4 million people), of which Ga West and Ga Central form the western part, only 17% of the estimated amount of waste water produced in 2007, was treated. If unattended, the situation will only deteriorate as projections show that the amount of waste water is expected to triple in the next 20 years (Switch, 2011) due to meagre sanitation at the homes and at public places.

The overall problem addressed by the project is the poor and rapidly detiorating living conditions of the growing population in the three identified project areas in relation to poor, inadequate or non-functioning sanitation and waste water management and treatment facilities.

Use of funds

  • [5] commercial Public Sanitation Blocks will be build under the brand name SaniStop
  • 1 Public Sanitation Block will be build in the Medium Security Male Prison in Nsawam (Ghana)
  • The funds will contribute to the construction of the Waste Water Treatment Plant [30] number of people hired locally
  • Improved living conditions of 300,000 People

In order to run a successful project and have a sustainable enterprise after the project period, we have restructured the project and business framework, with the different roles/tasks and responsibilities of each entity:

Green Energy Ghana Limited

MDF West Africa Limited has acquired land at Nsawam Municipality, which will be used to build the plant. With the loan provided, MDF will become shareholder of The Green Energy Ghana Limited, which will design, build, manage, exploit, and maintain a faecal waste treatment plant and 5 Public Sanitation Blocks under the trade name SaniStop.

Public Sanitation Blocks

By end of 2019 the company will develop 5 public sanitation blocks in co-creation with local entrepreneurs – investors – operators. Reputed companies will tender for construction, operations and maintenance of public sanitation blocks in selected municipalities (2 Ga West, 2 Ga Central, 1 Nsawam-Adoagyiri, 1 Male Yard – Prison’s Security),

The Business models – revenue streams consist of the following:

a.       Gathering tipping fees, liquid waste collection/emptying

b.       Sales of Compost

c.       Income generated from use of Public Sanitation Block (Sale of Franchise concept Public Sanitation Block)

d.       Reducing operational costs by use of Biogas (electricity)

Main product will be sales of organic compost, besides income generated from the tipping fees and usage of the Sanitation Blocks.


The Special Treat Project will impact the sanitation, hygiene and day-to-day living standards of 300,000 people in the Greater Accra area and the Eastern Region. It will increase water quality, decrease water-borne diseases and decrease mortality and morbidity; it will enhance economic growth with more business opportunities and direct jobs in sanitation, waste water collection and transportation, construction and indirectly in agriculture, retail and tourism. Reduced illness rates will offer residents more time to engage in education and income generation and positively affect the level of household incomes.

  • Use of sustainable and affordable sanitation services at markets, railway stations and adjacent lorry park & bus stops (3,000 visitors each day per public sanitation block).
  • A waste water treatment plant is constructed and in operation at a location to be decided with a capacity of 300,000 inhabitants equivalent.
  • Collection, transport and disposal of faecal sludge improved for 300,000 inhabitants in Ga Central Municipal Assembly, Ga West Municipal Assembly and Nsawam .

Our vision

We believe in an ever-changing world where there is a growing urgency to create more equitable societies, people who continue to develop themselves are best equipped to contribute towards making a sustainable difference.

Our mission

to foster competent professionals and improve the functioning of organisations and networks in order to increase their positive social impact.

Highlights or Awards

We received a grant under the Ghana WASH Window, a facility initiated by the Dutch Embassy in Accra and managed by the Netherlands Enterprise Agency (RVO) in The Hague.

Board of Directors MDF Training & Consultancy

The management team consists of two Managing Directors and the Finance Director, overlooking the daily activities.

Managing Directors - Mr Herman Snelder & Mr Mike Zuijderduijn
Finance Director - Ms Ingrid Plag

Company nameMDF West Africa Ltd.
CEOHerman Snelder

Impact of this project

  • With this investment 30 jobs are created
  • With this investment 300000 people are reached

About the investment

TypeDirect investment
IssuerMDF West Africa
Funding target€300,000
Annual interest8.00%
Maturity24 months
Repayment periodSemiannually
Terms and conditionsShow
Note termsDownload
Information document issuerDownload

About the risks

What are the risks of investing money?

Our local partners cover the risk of currency exchange rates and loan defaults. They do this by maintaining financial reserves for this purpose . In addition, there is an option to claim their equity if needed. While these measures are intended to minimize the risk to funders, our local partners face risks of their own that could effect their ability to secure a loan. These include: - bankruptcy - currency exchange rates - fraud - operational risks - political and regulatory changes - natural disasters or epidemics.

If you invest direct in a company, hence not via a local partner, risks of default are not covered. As the risk that comes with direct lendings is generally higher than an investment through a local partner, the interest rate is also higher.

There is also some operational risk at Lendahand. An example might be that Lendahand is unable to find shareholders to finance their activities. In such a case, Lendahand will handle outstanding loans at the best of its ability. At the same time, our ability to legally address non-payment from local partners becomes understandably difficult.

How does Lendahand minimize the risks?

Local partners must adhere to our mission and work with us to provide loans that are affordable. This insures that local entrepreneurs have access to financing that allows them to grow their business. A local partner must also have a track record. In other words, they must have proven themselves as a meso-credit provider for SMEs. This means (for instance) that the partner must have a solid credit portfolio, along with enough buffers and equity to compensate for unexpected downturns. We also check the organizational structure of the partner and how robust their (internal) procedures are. Finally, the loans that a local partner receives via Lendahand must be in proportion to the partner's total balance sheet. A healthy balance between effectuating influence and independence is crucial. If you would like to receive more information on the financial indicators we employ, please contact us via

When currency exchange risks become too high for a local partner, Lendahand will urge the local partner to cover these risks. In some scenario's the local partner is contractually obliged to comply with these demands.

Lendahand will always conduct due diligence when a Company requests for a direct loan. To provide more insights on risks, an independent partie comes in to perform brief analysis on direct loans. The results can be downloaded on the project detail page of the direct loan. However, this analysis serves primarily as a tool for your own opinion and conclusion. Pay attention to the fact this analysis is not an investing advice.

Does Lendahand provide guarantee on the loans?

Normally we don't. Local partners take care of the repayment, even if (some) entrepreneurs are unable to do so themselves. If the local partner is for some reason unable to repay then there is a chance of partial or full loss of your money. For this reason Lendahand only selects financially solid partners based on strict criteria.

Also, for most direct loans no guarantee is provided. For these investments currency risks are covered however.

Sometimes - and only for some direct investments in Africa - our partner Sida, part of the Swedish government, will provide a guarantee with a maximum of 50%. If this is the case, it will be indicated explicitly.

Does Lendahand have a license or exemption?

Yes. The Dutch Authority Financial Markets (AFM) has provided Hands-on B.V. (with trade name 'Lendahand') in September 2016 with an investment firm license in accordance with article 2:96 of the Financial Markets Supervision Act (Wft). Placing orders on Lendahand's website is therefore an AFM regulated activity. Lendahand also meets its minimum capital requirements of EUR 125,000 following its license as required by De Nederlandsche Bank (DNB).

Lendahand uses an exemption from an approved prospectus that is available up to EUR 5 Million per year. 

How safe are my personal details?

We adhere to strict safety requirements with regards to private and payment details. All sensitive data is sent through an encrypted connection (https). Also, data is stored (encrypted) in a secured facility provided by AWS: the world largest hosting service. Customer documents can only be retrieved by a secured connection and multi-factor authentication.

What happens if the local currency devaluates?

Our local partners and Companies bear the exchange rate risks. We settle the loan, redemptions, and interest payments in euro.

Does Lendahand use a third foundation fund?

Lendahand works with Intersolve EGI: a Dutch financial institution that specialises in offering services in the field of payment settlement and electronic money. To be able to offer these financial services Intersolve EGI must comply with the applicable financial legislation. Intersolve EGI is therefore supervised by De Nederlandsche Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM) and is in possession of a license to act as an Electronic Money Institution (and therefore also has a license as a Payment Institution). Your money will be deposited on a protected and secure bank account until the project you have invested in has been fully funded. Intersolve in no way has access to these funds. Once the project is fully funded, the money is transferred to the local partner or company in question.

What happens with my money if Lendahand goes bankrupt?

If Hands-On BV (containing the brand name Lendahand) would go bankrupt trades between Lendahand and payment service provider Intersolve EGI would cease immediately. Intersolve will then transfer the funds in your personal wallet to your bank account (Note: if at this time the project you have invested in has been fully funded and the money has thus been transferred to the local partner, these funds will not be transferred back to your bank account). Intersolve will then in consultation with a trustee handle all repayments between the investors and investees up until the final repayment of the last project has taken place.

Additionally, Lendahand is part of the investor compensation scheme (ICS). This scheme aims to compensate individuals and small businesses who have trusted money and or financial instruments (such as notes or options) to a licensed bank, investment firm or a financial institution in case the financial firm is unable to meet its obligations arising from claims related to the investment service (in other words, if Hands-On BV is not keeping track of the acquired notes by investors in the Wge depot correctly). The ICS guarantees an amount of up to EUR 20,000 per individual. For more information, go to

Why is my money going via Intersolve EGI?

As part of the AFM license for investment firms it is required that operational activities carried out by Lendahand (maintaining the website, contracting of local partners, legal issues, etc.) are strictly separated from financial transactions (payments made through the website). Intersolve takes care of the payments. This collaboration offers you more security, since your money is placed on a protected bank account immediately after you have made your payment.

What happens when a local partner goes bankrupt?

When a local partner goes bankrupt, there will be a chance that you lose (part of) the amount you lend. Obviously Lendahand will try to recover outstanding payments, but the success rate will be limited in such situations. For the investor there is no possibility to take action against the financial institution. From a legal point of view the local partners are separated, therefore it is recommendable to spread loans across different local partners.

About MDF West Africa

Total assets€1,527,435
Revenue (per year)€382,951
Equity / total assets19.00%

We have already contributed for MDF West Africa Ltd.

Martijn Kistemaker
Derkjan van Veen
Lot Hagenaars
Wim Mortier
Gert Baas
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