Invest in Africa (IIA-Kenya) is delighted to announce its first ever SME financing loan disbursement to an SME in Turkana County under the IIA-Credit Guarantee Scheme (CGS).
Akiberan Aberu Suppliers and Contractors Ltd, a wholly women-owned and run business based in Lokichar, Turkana County became the first company to open record books when it secured financing of up to 70% of an LPO issued to them for the supply of Green Vegetables, Fruits and other perishable farm produce to Tullow Oil.
Akiberan Aberu Suppliers and Contractors Ltd is one of the local SMEs who are beneficiaries of the local content requirement of Tullow Oil in the partially marginalized region of Northern Kenya. This milestone will see IIA-Kenya benchmark and draw lessons for effective community financing, which will see other locally owned SMEs get access to affordable credit.
Ms.Rael Mzee, the chairperson of Akiberan Aberu Suppliers and Contractors Ltd expressed her gratitude saying “this is a dream come true for my business and me. It is the beginning of a new journey to prosperity as some of the constraints we have been facing in accessing to finance are now a thing of the past. Thank you Invest in Africa.”
IIA-Kenya's Country Manager, Wangechi Muriuki while signing the loan disbursement agreement expressed high optimism towards a successful and a mutually rewarding relationship between IIA-Kenya and SMEs on the African Partner Pool (APP) platform.
“Invest In Africa has stepped up efforts towards its commitment to work with local communities, not just in Turkana County but all the 47 counties by enabling SMEs to access to markets with big corporations like Equity, Safaricom, enhancing the acquisition of business skills through training, and finally giving them affordable credit”, she said.
IIA is working to enhance SME access to skills, markets and finance in partnership with both leading organizations in Kenya in order to drive job creation and enterprise development in the economy.
The African Partner Pool (APP), which hosts the Credit Guarantee Scheme, is a technology platform that directly connects SMEs with larger organizations sourcing for goods and services. Additionally, it offers capacity building to enable address their skills and knowledge gaps. The platform currently has a database of over 1,500 vetted cross-sector SMEs from Kenya.
IIA Partners with Tullow Oil, Equity Bank, EY, Clyde & Co, Ecobank, Safaricom, Shell, Nation Media Group, AMSCO, Strathmore Business School, Keninvest and KEPSA among others.
For More information contact Denis Mbau on 0724988258 or [email protected]