4G Capital partners Citi to strengthen financial inclusion in Kenya

KENYA – 4G Capital Group Limited, a market player in technology-driven financial inclusion, Citi, U.S. International Development Finance Corporation (DFC) and the Ford Foundation have partnered  to expand financial inclusion through the provision of working capital to support the growth of micro and small enterprises in Kenya. 4G Capital will receive a US$ 2.6 million term loan from Citi that will reach more than 25,000 micro-enterprises. As part of the collaboration, 4G Capital and Citi will work to address the inventory finance needs of last-mile distributors of fast-moving consumer goods…

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4G Capital secures US$2m financing to lend small and medium businesses in East Africa

AFRICA – Private equity firm 4G Capital has secured a US$2 million (KSh202 million) loan for onward lending to small businesses in Kenya and Uganda. The new loan was provided by Ceniarth LLC, an investment vehicle of American Diane Isenberg whose family fortune is estimated at more than US$500 million (KSh50 billion). “4G Capital is pleased to announce the completion of its second round of fundraising. The investment was secured by a US$2 million (KSh202 million) debt facility from Ceniarth LLC, bringing the total raised to US$4 million (KSh404 million).…

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Kenya-based microfinance venture disburses US$41.69m to SMEs

KENYA – 4G Capital, a Kenya-based microfinance venture, has lent KSh4.3 billion (US$41.69 million) to small and medium enterprises over the past year, co-founder and CEO Wayne Hennessy-Barrett, says. The firm has more than 89 branches across Kenya with more than 80,000 customers, 75 percent of whom are women, and 77 percent from rural areas, reports Business Daily. “This last year has been remarkable, high demand for our services saw a 111 percent year on year (Quarter three 2018 to Quarter three 2019) increase in the total capital deployed through…

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