By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Newsunplug KenyaNewsunplug KenyaNewsunplug Kenya
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Reading: Proparco backs Equity’s Sh1.5 billion DRC loans
Share
Notification Show More
Font ResizerAa
Newsunplug KenyaNewsunplug Kenya
Font ResizerAa
  • News
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Newsunplug Kenya > Blog > Business > Proparco backs Equity’s Sh1.5 billion DRC loans
Business

Proparco backs Equity’s Sh1.5 billion DRC loans

hallanaija
Last updated: July 12, 2023 6:50 am
hallanaija
2 years ago
Share
equity
SHARE

Equity Group’s Democratic Republic of the Congo (DRC) unit has signed a deal with Proparco that will see the French financier provide up to €10 million (Sh1.55 billion) guarantee for loans to small businesses in the central African country.

Proparco, a private sector arm of Agence Française de Développement (AFD Group), made the announcement last week, making it the second guarantee scheme with Equity BCDC which is 84.1 percent owned by Equity Group.

The guarantee scheme is a risk-sharing deal aimed at helping Equity BCDC expand its financing options, particularly for small and medium-sized enterprises (SMEs), including those owned by women and youth.

“Thanks to this guarantee, Equity BCDC will continue to increase its financing in favour of high-impact SMEs, particularly those owned by women and young adults, in line with Proparco’s new 2023-2027 strategy,” said Proparco.

Equity

Proparco in March last year also inked a similar deal christened ‘Choose Africa Resilience’ portfolio guarantee to support Congolese SMEs hit by Covid-19 and hopes the latest deal will cover more small firms.

Equity BCDC’s profit after tax grew by 45 percent to Sh5.8 billion in the year ended December 2022, extending its lead as Equity’s most profitable subsidiary followed by the Rwandan unit with Sh2.8 billion.

READ MORE  Sustainability Transition: Kemsa Cuts Staff Size To 564
BAT staff reforms costs double to Sh324m
US rate increase hands Kamau Thugge fresh headache
Bamboo Farming In Uganda On The Rise As Gov’t Seeks To Increase Export
Global sugar prices hit 11 year high on low output
Herbert Wigwe: Nigerian Billionaire And Bank Chief Killed In US Helicopter Crash
Share This Article
Facebook Email Print
Previous Article KRA KRA to sell city land for Sh900m taxes
Next Article oil Kenya strikes cheaper oil deal with Gulf firms
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

about us

We influence 20 million users and is the number one business and technology news network on the planet.

Recent Posts

  • Chelsea are planning a contract until 2031 for Xavi Simons. Personal terms are verbally agreed, with written details set to be finalised next week.
  • Liverpool finally have their new Philippe Coutinho with £100m transfer inevitable
  • RB Leipzig Close in on Harvey Elliott as Liverpool Midfielder Eyes Xavi Simons Role
  • Jay-Z officially becomes World’s richest musician with $2.5 Billion net worth
  • Mombasa blogger who was sodomised decries abandonment, says life in danger

Recent Comments

No comments to show.
Newsunplug KenyaNewsunplug Kenya
© Newsunplug Kenya. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?