IIA Kenya extends first business loan to all Female led SME
Invest in Africa – Kenya, takes a land-mark step for a female owned and run SME, by issuing them a business loan. Click “Read More” to understand the full implications of this business loan.
Kina Advisory is pleased to congratulate Invest in Africa (IIA-Kenya) on making their first financing linkage. IIA-Kenya have made a business loan to a female owned and managed SME in Turkana, Kenya under their IIA Credit Guarantee Scheme.
Invest in Africa is a non-profit organisation that works to create business relationships between larger international and domestic companies, on the one hand, and local SMEs by providing local SMEs with access to finance, skills and markets. Their work in Africa supports job creation and creates a positive business environment for the international and domestic companies.
Akiberan Aberu Suppliers and Contractors Ltd (Akiberan Aberu), the recipients of the loan, are suppliers of fruit and vegetables. As a benefactor of Tullow Oil’s local content mandate, the support of this financing agreement means they can work with Tullow Oil to meet the Local Purchase Order (LPO) issued to them. For Tullow Oil, the IIA-Kenya loan means they have a cost-effective way of getting their essential supplies as Akiberan Aberu are local to Tullow’s project site and meet their local content requirements. IIA-Kenya’s first financing linkage is therefore an excellent example of how to align a company’s strategic socio-economic investments into its business objectives and contribute to the company’s business value drivers.
More details on this milestone for IIA-Kenya, just click here to read their press release.