Funding and Raising Capital – Kenyan Enterprise

Budget Cuts Affect Uchumi Supermarkets Management

Enterprise Team — Tue, 05 Sep 2023 07:17:57 +0000

Members of the top management of Uchumi Supermarket Plc have secretly left as a result of the government’s decision to discontinue bailouts, leaving the company dysfunctional just as a recovery strategy is about to begin. This, combined with banks’ reluctance to issue new loans to the business, has paralyzed Uchumi’s ability to compensate its small […]

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Why government didn’t Convert Sh537bn pending Bills into Bond

Clara Situma — Tue, 20 Jun 2023 07:15:21 +0000

Following worries that it would significantly add to the nation’s debt load at a time when its position has been classified as being at high risk of debt distress, the government shelved a plan to convert unpaid bills into a bond. Securitization of outstanding bills would entail the government issuing a bond to pay down […]

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Faulu to Empower Social Entrepreneurs Build Sustainable Futures

Lesile Selelo — Tue, 23 May 2023 08:05:58 +0000

By developing and implementing specialized sustainable financial solutions, Faulu, the leading microfinance bank, has strengthened its dedication to promoting social entrepreneurs. The move is aimed at helping social entrepreneurs navigate challenges and develop sustainable solutions in line with the bank’s vision to transform lives and ensure its customers achieve their desired goals. Faulu Bank Acting […]

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Reduced railway Levy saves the Public Sh3.6 billion

Clara Situma — Sat, 20 May 2023 07:05:18 +0000

Following the proposal to lower Railway Development levies contained in the new Finance Bill, taxpayers will save about Sh3.6 billion annually. If the proposals in the Finance Bill 2023 are approved by Parliament and the public in their current form, the Treasury projects that revenue from the Railway Development Levy (RDL), the fund that collects […]

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M-Kopa, a Kenyan fintech, Raises a record Sh35 billion in Debt and Equity

Clara Situma — Thu, 18 May 2023 06:07:16 +0000

M-Kopa, a solar and asset financing firm, has secured Sh35 billion ($255 million) in new debt and equity financing for its expansion in Sub-Saharan Africa from Standard Bank and Japanese trading house Sumitomo Corporation, among others. According to M-Kopa, the capital injection consists of Sh7.5 billion ($55 million) in equity and Sh27.4 billion ($200 million) […]

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Uwezo Fund Empowers Women Groups in Kericho

Lesile Selelo — Tue, 09 May 2023 09:04:03 +0000

The Uwezo Fund, a flagship initiative for Vision 2030, has continued to have a positive impact on registered groups in constituencies within Kericho County, with the majority of the groups involved in agribusiness projects. Through this flagship program, women, youth, and people with disabilities can access funds to promote their businesses and enterprises at the […]

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Tea Farmers Urge the Government to Fund KTDA-MS

Lesile Selelo — Mon, 08 May 2023 08:01:29 +0000

Kirinyaga’s smallholder tea manufacturers have urged the government to find other sources of finance for the Kenya Tea Development Agency Management Services (KTDA-MS) and comparable organizations rather than taxing farmers. Factory owners expressed their displeasure with Section 53 (1) (2) of the Tea Act 2020, which charges farmers 1% of the net sales price of […]

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Government Unveils New Funding for College Students

Lesile Selelo — Thu, 04 May 2023 07:34:41 +0000

A new model of supporting higher education stipulates that students who are vulnerable and in dire need will not be required to pay tuition starting this academic year. The funds, according to President William Ruto, will come from government grants, loans, and scholarships. He said students from needy households joining universities will receive Government scholarships […]

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Kua Ventures invites Small Businesses for Loans of Sh81 million

Clara Situma — Wed, 03 May 2023 07:04:32 +0000

Successful local small and medium enterprises (SMEs) will be able to access loans of between Sh5 million and Sh10 million to fund their operations through Kua Ventures’ fourth edition of a financing program, which has announced the opening of applications. The financing program, which was launched on Tuesday, is aimed solely at companies with Kenyan […]

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42Markets Group Bags Sh1.4B Capital Injection for Tech Investments

Lesile Selelo — Wed, 26 Apr 2023 07:30:39 +0000

To invest in the fintech sector in Kenya and other parts of Africa, financial and capital markets fintech investment organization 42Markets secured Sh1.4 billion ($10 million) from investors. Convergence Partners, a private equity investor focused on the sub-Saharan African technology market, provided the funding. The firm will invest in new technologies and support financial stability […]

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