Browsing: MSMEs

The new small business capital funding solutions, which are powered by modern and cutting-edge financial technologies, possess the potential to help small enterprises with their funding problems.

By providing bespoke credit options and innovative loan solutions, these modern fintech lenders have the ability to transform the finance ecosystem for small businesses.

SCF lenders have a larger outreach among small businesses, which ensures quicker loan approvals and seamless transaction processing on scheduled schedules with flexible terms.

This is in comparison to large lending institutions, which have a far more limited customer base. SCF companies have differentiated themselves from traditional lenders by developing a tech-enabled operational interface.…

The exhibition will hold a discussion where the panellists will highlight how SMEs were, are, and will always be critical to the growth of the global economy.

The majority of small and medium-sized enterprises account for most businesses worldwide and are significant contributors to job creation and global economic development. Small and Medium Enterprises represent about 90 per cent of businesses and more than 50 per cent of employment worldwide.

Formal SMEs in developing countries contribute up to 40 per cent of GDP, with the percentage getting significantly higher when informal SMEs are included. Experts say that over 500 million jobs will be needed by 2030 to absorb the growing global workforce caused by the increasing population.…

By sensing mild changes in financial well-being, the EWS gives lenders the opportunity to intervene and improve lending decisions and risk management.
Further testing, as part of the pilot, will reveal the predictive power of these indicators on borrowers’ behaviour and to what extent they translate to repayment challenges, such as delinquency, default, and rollover.

“The Financial Stress Early Warning System trial is a ground-breaking exercise in data-led client protection,” said Wayne Hennessy-Barrett, CEO and Founder of 4G Capital.…

EAC Partner States still have a critical role in enabling MSMEs growth to ensure long term sustainability and recovery by promoting programmes that prioritise MSMEs to spur demand for quality finished goods and progressively improve the region’s competitiveness.
“As the Community, we have the responsibility of enabling MSMEs growth to ensure long term sustainability and recovery,” said Dr. Mathuki.
The EAC Official informed the Exhibitors that the theme for this year recognises the impact of the Covid-19 pandemic on trade and places greater emphasises on quality and innovation as critical paths to enhance competitiveness. …

• Organic Diaries Limited, Tropical Lush Limited, Meditrust Healthcare Services and Organic Fields are some of the winners of the KSh 33 million grant fund
• The grant funds are being issued under the Accelerate Program which aims to position Kenyan businesses for success while addressing the skills gap in the country 
• So far, the program has managed to reach over 850 small businesses, providing them with both financial and non-financial support

Kenya’s Stanbic Bank has unveiled the 7 recipients of a new KSh 33 million grant fund.

Through its Accelerate Programme, the bank signed Stanbic Foundation and United States African Development Foundation (USADF) to hand over the funding to the businesses.

The Fund’s recipients, who were selected out of over 500 applicants across the country, include Organic Diaries Limited, Tropical Lush Limited and Meditrust Healthcare Services.

Others are Organic Fields, Tarakwo Diaries Company Limited and Tovuti Group who won KSh 5 …

• Mastercard Impact Fund has committed a initial philanthropic investment of $25 million 
• The company said small business owners are currently in need of innovative solutions
• It builds on Mastercard’s $250 million commitment to support small businesses’ financial security made last year

Mastercard, through the Center for Inclusive Growth, has launched a new program dubbed ‘Strive’, to strengthen the financial resilience of small businesses as well as support their recovery and growth.

In a statement, the company said the initiative, which is global, will help micro and small enterprises transition to using digital platforms and processes.

The technology company said the launch of the initiative comes at a time when there has been a rapid shift towards digital services, which was necessitated by the coronavirus pandemic.

An initial philanthropic investment of $25 million from the Mastercard Impact Fund has been committed to the initiative whose aim is to help more than …

Invest Africa has launched a new programme of support for over 500 African MSMEs.

In a statement, the company, which is a trade and investment platform for African markets, says it will be hosting the Next Generation Africa Forum to connect MSMEs across the Continent.

The forum will take place virtually on 16th September using a digital platform, with practical support from leading banks, VCs, multi-national tech companies and incubators, including Google, KPMG, DHL, Aon and 4G Capital.

“MSMEs form the backbone of Africa’s economies and are the engine of the region’s job creation drive, accounting for 70 percent of employment,” the company said in a statement.

The firm also noted that with a high proportion of informal enterprises, many of Africa’s MSMEs, which already faced significant challenges, have been hit hard by the Covid-19 pandemic.

Addressing the structural difficulties that small businesses in Africa face, will therefore be essential …

This comes at a time when Africa’s underinvested youth are in need of urgent attention and youth entrepreneurship investment banks must become the focus of global support, according to the African Development Bank head Dr Akinwumi A. Adesina.
Speaking during a discussion on scaling up financing for the continent’s youth, Adesina presented a novel concept for youth entrepreneurship investment banks. The roundtable, organized by the African Development Bank, came a day ahead of the Summit on Financing African Economies convened by President Emmanuel Macron.…

Beneficiaries receive interest-free loans ranging between Kshs 100,000 (US$ 1000) to Kshs 1.5 million without any collateral.…

Africa has more digital financial services deployments than any other region in the world, with almost half of the nearly 700 million individual users worldwide.…