Unitas Receives Ksh.1 billion SME Financing from Oikocredit

Unitas Kenya has received Ksh.1 billion funding from Oikocredit in order to support small businesses (SMEs) in Kenya. The funding is set to support over 5000 Micro, Small, and Medium Enterprises (MSMEs) who had suffered economic setbacks due to the Covid-19 pandemic.

In a statement released on Monday Unitas Kenya revealed that the funding would help to enhance economic growth for individuals such as individual farmers and farmers’ groups, dealers, and transporters and it would help them grow and better their livelihood.

“The fund will propel SMEs into a recovery path and ensure rapid growth,” said Unitas chair James Kinoro. “We commit to sustaining our business growth through member-focused service delivery,” he added.

Oikocredit’s investments manager East Africa, Caroline Mulwa, revealed that the reason why they considered Unitas for the funding is that they share the same mission.

Unitas focuses on smallholder farmers, low-income housing, and small and medium enterprises and Oikocredit focuses on providing financial access to low-income households and supporting employment generation.

The cooperation between the two is set to drive financial inclusion in an underserved market.