The investment will strengthen debt facilities by Lendable Inc. while offering increased security to micro, small and medium enterprises recovering from the pandemic
NAIROBI, December 15, 2020 – FSD Africa Investments (FSDAi), the investment arm of FSD Africa, has today announced a $4.5million commitment to Funds set up by Lendable Inc. (Lendable). This will boost the capacity of alternative financial service providers in sub-Saharan Africa to provide credit to micro, small and medium enterprises (MSMEs) recovering from the effects of the pandemic.
Lendable is a fintech startup which provides structured finance to alterative lenders in frontier and emerging markets. By providing funds to support the lending capacity of alterative financial service providers, these providers will, in turn, provide much needed capital to MSMEs. This is at a time when MSMEs need help in fuelling their recovery from the effects of the pandemic – and when credit from other sources may be difficult to raise.