Browsing: East African SMEs

East African Agribusiness SMEs to receive $1m

East African SMEs mainly in Kenya, Uganda and Tanzania to receive a 4-year senior/ mezzanine debt facility of $1 million given by the Eastern and Southern African Trade and Development Bank (TDB) SME Programme.

The TDB gave the funds as part of its mandate to strengthen the entrepreneurial fabric of the region while the funds will be managed by the Grassroots Business Fund (GBF).

The project will focus on women or youth-led SMEs operating in the agricultural sector with solid managerial foundations and a high potential for social impact.

The African Guarantee Fund (AGF) enhanced the transaction with a partial risk guarantee of 50 per cent with up to 75 per cent in the case of women-led SMEs.

In Kenya, Uganda and Tanzania, agriculture contributes approximately 30 per cent of GDP while in employment it contributes between 55 per cent and 70 per cent of all jobs and 77 per …