Aavishkaar Capital gets $40mn JICA investment to unlock growth for Kenyan, African SMEs- Capital FM, Kenya

The financing will expand access to credit for small and medium-sized enterprises (SMEs) in Africa and Asia.

The investment was announced by Japanese Prime Minister Shigeru Ishiba during the Economic Partnership in Indian Ocean–Africa Forum, which was held alongside the Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan.

SMEs in Kenya contribute more than 40 percent of GDP and employ over 80 percent of the workforce. Despite this, they face a financing gap estimated at Sh1.3 trillion annually. The partnership with JICA is expected to ease this shortfall by providing debt funding to export-oriented firms and other enterprises in emerging markets

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