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?

The risk level depends on the specific project. Local partners cover the risk of currency exchange rates and defaults on Local Partner investments. They do this by maintaining financial reserves for this purpose. Aside from that, there is an option to claim their equity if needed. While these measures are intended to minimize the risk to investors, our local partners face risks of their own that could affect their ability to secure your investment. These include - bankruptcy - currency exchange rates - fraud - operational risks - political and regulatory changes - natural disasters or epidemics.

With direct investments, risks of default are not covered. As the risks are higher, so are the interest rates.

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 investments 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?

Every local partner must share our social mission to ensure local entrepreneurs can access affordable financing, allowing them to grow their business. Local partners must also have a 'track record'; they must have proven themselves as a reliable credit provider for SMEs.

For instance, this means a solid credit portfolio and enough buffers and equity to compensate for unexpected downturns. We also check the organizational structure of the portfolio company and how robust their (internal) procedures are. Finally, the investments must be in proportion to the total balance of that portfolio company. A healthy balance between effectuating influence and being independent 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 companies request funding. To provide more insights on risks, an independent party comes in to perform an analysis of 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 investing advice.

Does Lendahand provide a guarantee?

Usually 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.

For most direct investments, there is no guarantee. However, currency risks are covered.

Sometimes, and only for some direct investments in Africa, our partner Sida, part of the Swedish government, will guarantee a maximum of 50%. Read here more about guarantees with Sida. Projects with Sida guarantees are indicated explicitly on the project page.

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 concerning private and payment details. All sensitive data is sent through an encrypted connection (https). Also, information is stored (encrypted) in a secured facility provided by AWS: the world’s largest hosting service. A secured connection and multi-factor authentication can only retrieve customer documents.

What happens if the local currency devaluates?

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

Does Lendahand use a third foundation fund?

Lendahand works with Intersolve EGI: a Dutch financial institution specializing in 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 owns 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 has no 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) went bankrupt, trades between Lendahand and payment service provider Intersolve EGI would cease immediately. Intersolve will then transfer the funds in your 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 entrepreneurs 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 with trusted money and or financial instruments (such as notes or options) to a licensed bank, an 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 €20.000 per individual. For more information, go to

Why is Intersolve EGI handling my money?

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 costs. This collaboration offers you more security since your money is placed on a protected bank account immediately after making your payment.

What happens when a local partner goes bankrupt?

When a local partner goes bankrupt, there’s a chance you’ll lose (part of) your money. Lendahand will try to recover outstanding payments, but the success rate is limited in such situations. For you, as an investor, there’s no possibility of taking action against the financial institution. Therefore, it is recommendable to choose several different projects.

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.

Derkjan van Veen
Ton Van der Meer
Ron van Eijk
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