Awards for Excellence 2019
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According to the World Bank, small and medium-sized enterprises account for approximately 95% of all registered firms in Africa – financing them is essential to regional growth.
In Kenya, SMEs have been hit hard by the interest-rate cap set at four percentage points above the central bank rate. Rather than take the risk and lend at lower than palatable interest rates, banks cut lending to smaller businesses, preferring to stick to larger corporates with stronger track records.
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