The African Guarantee Fund (AGF) and Equity Group have signed a $75million(Sh8.25billion) guarantee fund deal to support women entrepreneursThe fund will support Equity to scale up its lending activities to women owned Micro, Small and Medium Sized Enterprises in Kenya, Uganda, Rwanda and DRC. He said the women will be supported under Affirmative Finance Action for Women in Africa initiative and Green Guarantee Facility. In its third quarter 2020 results Equity reported a 30 per cent growth in its loan book in support of its customers. This is the fifth tranche for Equity Group after having signed a $50 million (Sh5.5billion) loan facility with IFC in September; a $100million(Sh11.0billion) from Proparco in October. Two weeks ago it signed a €125 million(Sh16.5billion) loan facility with the European Investment Bank and a $100 Million (Sh11billion) Credit Facility with European Development Banks DEG, FMO and CDC-UK to fortify credit flows and liquidity to MSMEs totalling Sh52.25billion.

Source: The Star March 15, 2021 15:00 UTC