Equity Group Holdings and the African Guarantee Fund (AGF) have expanded their partnership with a new USD 500 million (KES 64 billion) framework to scale Micro, Small, and Medium Enterprises financing across East and Central Africa.
This facility, the largest single guaranteed engagement in AGF’s history, is expected to unlock up to USD 1 billion in lending. The initiative will focus on MSMEs in Kenya, Uganda, Rwanda, Tanzania, and the Democratic Republic of Congo, aiming to create and sustain over 50 000 jobs over the next decade, with a particular emphasis on empowering youth, women, and green enterprises.
Since 2018, the partnership has already facilitated over USD 160 million in loans to nearly 2 000 MSMEs, including 500 women led and 900 youth led businesses.
Equity Group CEO, Dr. James Mwangi, emphasised the initiative’s leading role in the bank’s Africa Recovery and Resilience Plan, which focuses on inclusive growth through expanded access to finance in high impact sectors. AGF Group CEO, Jules Ngankam, highlighted the partnership’s potential to accelerate business growth and job creation by broadening credit access.
The partnership also leverages support from the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative to close the gender finance gap, while promoting green and blue projects through AGF’s Green Guarantee Facility and Equity’s blue sustainability initiatives.
For more information visit www.equitygroupholdings.com
