MyCredit and Oikocredit US$ 2.6 million partnership to fund SMEs in Kenya
This loan facility from Oikocredit will support Kenyan financial company MyCredit to offer affordable, medium-term financing to local SMEs
Oikocredit has approved a loan facility of US$ 2.6 million (KES 325 million) to non-bank financial institution MyCredit Limited. MyCredit serves 10,000 clients throughout Kenya, providing affordable medium-term financing for small and medium enterprises (SMEs).
With this funding, MyCredit plans to bring more financial opportunities through tailor-made loans to local SMEs. In turn, this supports SMEs to create more job prospects in the local community and contributes to economic growth.
As part of an ongoing commitment to create greater social impact and financial inclusion, this partnership between Oikocredit and MyCredit will reach underserved SMEs and provide much-needed capacity-building support to wider communities in Kenya.
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