Oikocredit announces € 9.3 million loan to AfricInvest Private Credit to support SMEs in Africa
12/06 Strategic move and new partnership will boost economic empowerment across the continent.
Oikocredit has made a first-time loan of US$ 10 million (€ 9.3 million) to AfricInvest Private Credit (APC) to augment support for small and medium enterprises (SMEs) throughout Africa.
APC is committed to providing SMEs with access to medium- to long-term credit, with particular focus on enterprises underserved by mainstream financial institutions, often because they lack adequate collateral. In addition to providing tailor-made financial solutions, APC offers capacity building initiatives to help investee companies thrive and expand sustainably. This comprehensive approach aligns seamlessly with Oikocredit's mission of fostering sustainable economic growth and development.
Oikocredit’s capital infusion will enable APC to increase its lending activities to a diverse portfolio of companies across multiple African countries. This strategic deployment of resources is essential to achieve a thriving SME sector, the backbone of Africa’s economy.
Read the press release here.
Archive > 2024 > June
- 27/06 - New Oikocredit partner fills SMEs’ capital needs in Indonesia
- 26/06 - Sidian Bank, Aqua for All and Oikocredit launch facility to support access to WASH services in Kenya
- 21/06 - Oikocredit and NGOs Continue NCP-Mediated Dialogue
- 19/06 - How Oikocredit partner PAI cultivates quality and equity in Argentine agriculture
- 13/06 - Oikocredit Holds 48th Annual General Meeting
- 12/06 - Oikocredit announces € 9.3 million loan to AfricInvest Private Credit to support SMEs in Africa
- 11/06 - Oikocredit Live: The Future of Cocoa – Is Sustainable Chocolate Possible?
- 10/06 - Farmerline puts technology to work for African farmers
- 04/06 - Oikocredit partners with biochar producer NetZero to scale operations in Brazil
