Kua to invest $2m more in Kenyan SMEs
Kua Ventures, an impact investment firm based in Kenya, has reached a new investment milestone after surpassing $1 million in SME funding.
The milestone follows four rounds of funding over the last three years that have seen 20 growing local SMEs added to the Kua Ventures portfolio.
After crossing the $1 million mark, the firm plans to invest an additional $2 million set aside to almost double the portfolio over the next 10 months.
Key Takeaways
SMEs in Africa continue to face significant challenges in accessing credit. Financial institutions are often constrained by regulatory requirements, limited appetite for a segment that is perceived to be higher risk, a lack of adequate collateral available from SMEs, knowledge gaps by the lenders, and skill gaps demonstrated by SME borrowers. This highlights the importance of firms like Kua. The investment journey of Kua Ventures in Kenya began in 2020 at the onset of the COVID-19 pandemic. Then, many businesses, particularly SMEs, had been adversely affected by the economic effects of the pandemic.
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