Micro lender lands capital injection

Sumac Microfinance Bank has mobilised Sh375 million in fresh capital injection as it seeks to increase its market share.

The deposit-taking microfinancier said in a statement on Tuesday it had secured Sh150 million from Triple Jump of Mexico, with the first tranche of Sh75 million having been released in December.

Sumac Chairman Kibatha Njoroge said the second tranche of the same amount is set to be released later this year.

The microlender has also received Sh150 million from the Regional MSME Investment Fund for Sub-Saharan Africa, Sh45 million from the Development Bank of Kenya and Sh30 million from the Micro Enterprises Support Programme Trust.

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