The Future of SME Financing in Africa- Interview of Ashish Patel in CNBC Africa

Small and Medium Enterprises are the backbone of Africa’s economy, contributing over 40 per cent of GDP in many countries and employing nearly 80 per cent of the continent’s workforce, according to the African Development Bank (AfDB). Yet, despite their importance, only about 20 per cent of SMEs in Africa have access to formal financing, leaving a massive funding gap estimated at $330 billion annually. CNBC Africa’s Aby Agina spoke to Ashish Patel, Managing Partner: Credit, Aavishkaar Capital for more.

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