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Kenyan SMEs picked for Sh9b UK-backed credit guarantee deal

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UK Foreign Secretary James Cleverly arrives for a Cabinet meeting in London on October 26, 2022. [AP Photo]

Small and medium-sized businesses (SMEs) are set to benefit from a $75 million (Sh9.1 billion) fund set to guarantee their borrowings from local commercial banks.

This is after the Africa Guarantee Fund (AGF) and the UK government's development finance institution British International Investment (BII) inked a credit guarantee deal.

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