- The Far Property company to list more linked units on BSE
- Building Kenya’s tourism competitiveness in Africa
- Uganda Securities Exchange creates new window for SMEs’ capital mobilisation
- Indian Ocean safety stamp to boost Kenya imports savings
- Nigeria’s capital market positive US dollar returns in September
- South Africa’s manufacturing grew 2.9% in September
- Costs of farm inputs still a headache for Africa
- Beekeeping in Tanzania, adopting modern agriculture technologies
Browsing: Financing SMES
The East African economy was projected to grow impressively this year but the Covid-19 pandemic has become a damper to the region’s outlook.
However, while the virus is estimated to wipe off billions of dollars from the global economy, there is hope that the East African region will remain resilient in the face of the pandemic. The EAC has been outpacing other regions on the continent defying natural law expectations.
2020 is no different.
According to the African Development Bank (AfDB), the economic disruption caused by the Covid-19 pandemic has slowed the region’s growth projec...
4G Capital announced the completion of its second round of fundraising. The funding was secured by a $2 million debt from Ceniarth LLC, making the total raised to $4 million.
The company will use the investment for lending to its growing customer base of informal MSMEs across Uganda and Kenya.
Since the company was starred in 2013, 4G Capital has grown exponentially, lending over750, 000 loans valued at $90 million. In 2019, the company’s revenue increased by 97 per cent as 4G Capital supported over 60,000 MSMEs.
By the end of 2020, 4G Capital will have lent $43.6 million surpassing all expectations. Without refinancing, repayment rates remain above national averages at over 94 per cent.
“The rapid expansion of mobile and technology-based financial services in emerging markets has the potential to provide critical capital to individuals previously excluded from …
Of recent times, microfinance has demonstrably become the most coveted solution to building a robust and efficient national economy that is inclusive of the low-income segment in both urban and rural areas.
The historically nascent level of microfinance services in Tanzania has prompted various non-government organization (domestic and foreign) and financial institutions to take up active roles in providing this service. Institutions such as the Foundation for International Community Assistance (FINCA), SEDA, PRIDE and Bangladesh Rural Advancement Committee (BRAC) are some of the active pla...
CDC Group, the UK’s publicly owned impact investor, has announced a commitment of US$39.2 million to support SMEs in West Africa. CDC is backing Verod Fund III and Adiwale Fund I, West-African based private equity funds targeting SMEs in the region, with commitments of US$19.2m and US$20m respectively.
In West Africa, banks and low levels of private equity activity are currently struggling to meet the financing needs of SMEs, hampering their potential as engines of economic growth in the region. Access to finance is cited as the top barrier for doing business in Nigeria and Ghana. Increasing access to capital to this market is a core element of the CDC’s Africa strategy by backing well-networked, experienced local teams.
This should, in turn, support private sector development, economic growth, and long-term sustainable employment, particularly for the semi-skilled and low-skilled workforce in the region, therefore contributing to Sustainable Development Goal 8: decent …
Micro, small and medium scale enterprises (MSMEs) in Kenya are the target of a pilot phase of a mobile loan product led by Keny’s biggest five commercial banks.
Launched by Central Bank of Kenya (CBK) Governor Dr Patrick Njoroge, the scheme targeting MSMEs comes after President Uhuru Kenyatta said he recognised the role played by MSMEs in spurring the development of the country.
“The sector, employs approximately 14.9 million Kenyans and contributes an estimated 28 per cent of our Gross Domestic Product,” said Kenyatta during his State of the Nation Address on April 4, 2019.
The mobile-based credit scheme is set to improve access to credit for small-to-midsize enterprises, which have allegedly been locked out of the formal credit market because of the informal nature of their records and lack of collateral for secured loans.
Kenyatta family rip-off plan?
Christened Stawi, the scheme will be managed by five banks – …