Citi Bank and 4G Capital Group have partnered to tackle financial exclusion in Kenya. Citi will provide a KSh 285 million term loan that will reach over 25,000 small businesses.
The loan is part of a $2.5 billion guarantee facility from the U.S International Development Finance Corporation and the Ford Foundation.
The program seeks to provide early-stage financing in local currency for companies to boost access to product and services in emerging markets.
In the collaboration, Citi and 4G Capital will address inventory finance needs of last-mile distributors of…