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Browsing: DEG
- The $100 million loan has been disbursed for onward lending.
- Coop Bank CEO says the funding “is most timely in view of the great need to better support our business customers.”
- The long-term tenure of the facility has significantly boosted Coop Bank’s ability to offer credit to SMEs.
The Co-operative Bank of Kenya has received a long-term seven-year funding amounting to $100 million from a consortium of financial institutions to empower Kenyan SMEs.
SMEs are a major source of employment in Kenya, providing jobs to a large number of people, especially in rural areas. They absorb a significant percentage of the labor force, thereby reducing the burden on the formal job market.
With a strong focus on climate and impact, the consortium lead DEG offers financing, advice and support to private sector enterprises operating in developing and emerging-market countries.
Loan to empower Kenyan SMEs
The loan is a Tier II …
- IFC, DEG, Hollard, and Yellowwoods Invest $17 million in Naked to Boost Access to Insurance in South Africa
- The IFC – Led equity Investment is aimed at increasing access to quality insurance products and services in South Africa
- The combined investment will also support Naked’s strategy to expand its digital insurance offering, including to more first-time insurance buyers, and allow it to continue innovating to improve customer experience.
The International Finance Corporation (IFC) has partnered with the German Development Finance Institution (DEG), Hollard, and Yellowwoods to invest $17 million in South African insurtech company Naked to expand access to vehicle, home, and other insurance products.
The IFC-led equity Investment is aimed at increasing access to quality insurance products and services in South Africa
The combined investment will also support Naked’s strategy to expand its digital insurance offering, including to more first-time insurance buyers, and allow it to continue innovating to …