SME Finance & Leasing News
The fund will follow fintech innovations aimed at enhancing access to financial services
The investment will allow MSMEs to access card-based payments and develop digital data records.
The merger is to enable the banks to meet the capital requirements of Malawi's apex bank.
This is to support private sector and small and medium-sized enterprises in West Africa.
The MoU will support SMEs growth by facilitating access to capital.
The facility is aimed at expanding digital financial services and increasing funding for SMEs.
The initiative is designed to offer free banking services for businesses in the first three years of their registration and incorporation.
Through the initiative, businesses can obtain interest-free credit up to Rwf60 million.
The agreement will boost trade finance in Africa.
This call was made during the Afreximbank’s sensitisation seminar on “Model Law on Factoring” in Nairobi, Kenya last weekend.