Branch MFB has partnered with Solv Kenya to provide Micro, Small and Medium Enterprises (MSMEs) with up to Ksh 1 million as working capital to facilitate their cash flow and stock financing from suppliers and distributors.
The financing solution is expected to help bridge the credit gap by extending loans, provide financial guidance and accelerate business linkages hence unlocking new growth potentials for MSMEs.
Branch East Africa Managing Director Rose Muturi said seamless access to digital financial services will help address liquidity challenges for MSMEs.
“Access to credit facilities and business is a key support in unlocking the full potential of our MSMEs. By combining our expertise, we will provide Kenyan entrepreneurs with the comprehensive support they need to scale their businesses and contribute to a more vibrant Kenyan economy,” Muturi said.
African Lead SC Ventures and Chief Executive Officer Solv Kenya, Dan Karuga said the partnership will help drive innovation and growth in Africa’s digital economy.
“We are confident we will unlock new capital streams for SMEs, enabling them to scale efficiently. Together, we aim to reach out to more MSMEs and offer them convenient and affordable credit solutions that suit their needs,” said Karuga.
Only 20pc of over 7.4 million MSMEs operate as licensed entities despite being the major contributors to the country’s Gross Domestic Product (GDP).
