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Equity Group and the International Finance Corporation (IFC) have signed a US$165 million agreement to support micro, small and medium-sized businesses (MSMEs) in Africa
Equity Group and the International Finance Corporation (IFC) have signed a US$165 million agreement to support micro, small and medium-sized businesses (MSMEs) in Africa. Out of the US$165 million, IFC has committed Sh5.8 billion (US$50 million), British International Investment (BII) Sh5.8 billion (US$50 million), and Sh7.6 billion (US$65 million) from Symbiotic, Responsibility, and FMO, the Dutch entrepreneurial development bank.
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Under Equity’s Africa Recovery and Resilience Plan, the Group will finance at least 5 million MSMEs and 25 million households through its regional banking subsidiaries, creating 50 million direct and indirect jobs.
Equity’s plan is built on two key pillars: social emancipation and economic growth.
