Latest stories tagged “financing”
Kenya's smartphone financing market is transforming the delivery of insurance products to consumers, particularly benefiting low and middle-income households that have traditionally faced barriers due to high premiums and limited awareness. Digital phone financing providers are now incorporating life and medical insurance into device repayment plans, thereby expanding access to these essential services, according to Sharp Daily.
The European Bank for Reconstruction and Development (EBRD) plans to invest $1.5 billion in Nigeria over the next three years. According to the managing director, these investments aim to facilitate trading activities by providing easier access to pre-import and post-export financing for importers and exporters in the country.
Absa Bank Kenya and Unilever Kenya have entered into a KSh 4 billion financing agreement aimed at improving access to working capital for distributors and retailers. This initiative is intended to enhance Kenya's consumer goods value chain and support the growth of small and medium-sized enterprises (SMEs).
Sanara has invested over $9.3 million (KES 1.2 billion) into Kenya's creative economy, training 20,000 young creatives. The demand for its Ota loan facilities has reached approximately KES 4 billion, indicating a strong interest in financing among creative entrepreneurs and highlighting a significant funding gap in the sector, according to TechMoran.
The Government of Uganda has obtained €110.5 million (approximately Shs481 billion) from Standard Chartered Bank Uganda to finance the upgrading of the 115.8-kilometre Kitgum-Kidepo road, which is considered a strategic infrastructure project.
The federal government has announced its intended actions regarding a man from Lagos who is accused of financing terrorism, with further details about the case being revealed.
Wema Bank has obtained a €50 million financing facility from EIB Global, the European Investment Bank's development arm, aimed at enhancing credit access for small and medium-sized enterprises (SMEs), particularly those owned by women and youth. The agreement was signed in Lagos and represents the first transaction between Wema Bank and EIB Global.
Mogo, a prominent asset financier in East Africa, has reported financing over 500,000 smartphones in the region within 14 months, indicating a significant demand for affordable digital credit and flexible payment options. Notably, Uganda accounts for more than half of these financed smartphones during the same timeframe.
The European Bank for Reconstruction and Development (EBRD) plans to invest $1.5 billion in Nigeria over the next three years. According to the managing director, these investments aim to facilitate trading activities by providing easier access to pre-import and post-export financing for importers and exporters in the country.
Absa Bank Kenya and Unilever Kenya have entered into a KSh 4 billion financing agreement aimed at improving access to working capital for distributors and retailers. This initiative is intended to enhance Kenya's consumer goods value chain and support the growth of small and medium-sized enterprises (SMEs).