Small and medium enterprises targeted in an interest-free loan initiative

The Kenya Private Sector Alliance (KEPSA) and the Mastercard Foundation have launched a fund to provide loans to a maximum of 400 Micro, Small, and Medium Enterprises (MSMEs) whose businesses have been affected by the COVID-19 pandemic. The loan facility will be interest-free and repayable by up to six months.

The Fund is created through support from the Mastercard Foundation COVID-19 Recovery and Resilience Program and is targeting businesses that find it difficult to access financing from formal lending institutions such as banks and micro-financers. Priority will be given to businesses run by women and young people.