Trade and Development Bank to fund agribusiness SME’s in East Africa with US$1m financing facility

EAST AFRICA – The Eastern and Southern African Trade and Development Bank (TDB) has announced that it will inject US$1m to finance small and medium size agribusiness enterprises in Kenya, Tanzania and Uganda, as part of its mandate to strengthen the entrepreneurial fabric of the region. TDB is a multilateral, treaty-based, investment-grade development financial institution. The TDB SME Programme finances agribusiness through the provision of working capital, funding for expansion and support for value addition. According to TDB, it will focus on women or youth-led missing middle SMEs operating in the…

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African Guarantee Fund receives a US$33m capital injection from KfW Development Bank

AFRICA – Africa’s leading Guarantee Institution, African Guarantee Fund (AGF) has received an additional US$33m financing from German lender, KfW Development Bank, in a move that will catapult AGF’s efforts to enable African SMEs continue to play their critical role in driving Africa’s economy. This new financing comes at a time when the continent’s SME sector has been singled out as a key driver of growth. This now places AGF firmly on the driver’s seat as the champion that eases access to financing for SMEs across the continent. “We are…

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French Development Agency invests US$30m in the African Guarantee Fund

AFRICA – The African Guarantee Fund (AGF) has received US$30 million from the French Development Agency (AFD) to support small and medium sized enterprises (SMEs) in Africa. The fund seeks to improve access to credit by SMEs throughout Africa besides supporting the risk of financing private investments. The agreement by the two institutions was signed by AFD Chief Executive Officer Rémy Rioux and AGF Group Chief Executive Officer Félix Bikpo in Paris. The sub-participation agreement signed between AFD and AGF broadens the existing cooperation between the two entities, by providing…

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