Finance

Kenya: CitiBank approves new credit line to 4G Capital

Monday, 19 October 2020 19:29
Kenya: CitiBank approves new credit line to 4G Capital

(Ecofin Agency) - The Kenyan subsidiary of U.S. bank CitiBank is mentioned in a loan deal of KSh285 million (about $2.6 million) with the African neobank 4G Capital. The fully digital financial institution, whose services are accessible via a mobile application, wants to reach approximately 25,000 small and medium enterprises (SMEs).

CitiBank will support the operating activity of these companies by strengthening their working capital needs. The line of credit will mainly target companies specializing in the distribution of consumer products. They will be eligible for the specific financial service set up by the neobank to enable them to maintain a large stock of consumer products and to increase their orders. The financing is part of a guarantee mechanism jointly set up with the U.S. government's Development Finance Corporation.

“We are delighted to be working with Citi as our strategic finance partner as we expand the reach and breadth of our services to Kenya’s MSME sector. 2020 has been a challenging year, but the backbone of our community and economy, the informal traders, have shown an inspiring degree of resilience,” said Wayne Hennessy-Barrett, CEO of 4G Capital. The company is present in Kenya and Uganda.

Chamberline Moko



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.