Business Daily | by Elizabeth Kivuva
Equity Group has received Sh8.2 billion ($75 million) as a credit guarantee fund from pan-African financial institution, African Guarantee Fund in order to increase its lending to small businesses.
This is set to see the risk of default by a borrower shared between the two institutions. The fund will help cover part of the loan in case of failure in repayment by the borrower.
The fund is expected to help Equity Group reduce its risk of lending in the country and subsidiaries in Uganda, Rwanda and DRC…
