The African Development Bank (AfDB) has loaned KSh11 billion to Equity Group Holdings (EGH) to expand East and Central Africa. The loan further seeks to boost EGH’s ability to serve small and medium enterprises (SMEs) in the region.
The loan, a tier two facility with a seven-year maturity, is aimed at promoting Equity Group’s ability to offer tailored products to MSMEs, strengthen its balance sheet as well as optimise its capital structure across the continent.
The amount comes just after the group signed a KSh16.5 billion loan facility with the European Investment Bank (EIB) and the EU to support SMEs.
Since last September, Equity Group Holdings has received a total of KSh63.25 billion to support SMEs. This includes a KSh 5.5 billion loan facility with IFC in September, a KSh11 Billion from Proparco in October, KSh 16.5 billion loan facility signed last week with the European Investment Bank, a KSh11 Billion Credit Facility with Leading European Development Banks DEG, FMO and CDC-UK, and a KSh8.25 billion Loan Facility with the African Guaranty Fund.
Equity Group currently has operations in Kenya, Uganda, Tanzania, South Sudan, Rwanda, Ethiopia and DRC.
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