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Posted: 18 Dec 2015 11:39
Category: Banking, Finance & Insurance
Location: Africa , Kenya , Nairobi
Web Site: www.africanguaranteefund.com
Small and Medium Enterprises (SMEs) are widely recognized as big drivers of economic growth, innovation, regional development and job creation. A strong and vibrant SME sector provides a strong foundation to increase standards of living and to reduce poverty. Despite the internationally recognized importance of SMEs, African small businesses often have difficulties accessing financing for growth and innovation from the formal financial sector. SME financing is often considered by many financial sector players in Africa to be a risky activity as promoters quite more often than not, fail to come up with the collateral levels required to secure bank facilities
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