Women-only SME in Turkana secures bridge financing to supply Tullow Oil
TURKANA, Kenya, Jun 9 – A women-owned enterprise based in Turkana County has secured bridge financing from Invest in Africa under the IIA Credit Guarantee Scheme.
Akiberan Aberu Suppliers and Contractors based in Lokichar in Turkana County will get up to 70 percent for an LPO issued to supply vegetables, fruits and other perishable farm produce to Tullow Oil.
The SME is one of the local enterprises that are beneficiaries of the local content requirement of Tullow Oil in Northern Kenya.
“This is a dream come true for my business. It is the beginning of a new journey to prosperity as some of the constraints we have been facing in accessing finance are now a thing of the past,” says Rael Mzee.
This financing arrangement, says IIA-Kenya County Manager Wangechi Muriuki, will allow Invest in Africa benchmark and draw lessons for effective community financing and open doors for other locally owned SMEs get access to affordable credit.
“We have stepped up to extend our commitment to bridge the financing gap by finally offering affordable credit directly through our innovative Financing Scheme that is delivered through a Mobile Application that we have developed. The financing application is supported by the APP platform,” says Muriuki.