4G Capital & Citi Collaborate to Strengthen Financial Inclusion in Kenya
Summary
The loan is part of the Scaling Enterprise guarantee facility, a Citi partnership with DFC and the Ford Foundation that enables earlier stage, innovative and inclusive businesses in emerging markets to access local currency commercial bank financing. Citi is a primary banker to FMCGs across Africa and seeks to assist its clients in expanding their businesses sustainably through the responsible provision of working capital credit to their MSME customers. 4G Capital will support Citi’s FMCG customers with its KUZA product that uses the company’s proprietary fintech to ‘plug and play’ with partner systems allowing businesses to buy on credit, rather than paying cash on delivery. This allows small shop owners to maintain minimum stock levels for continuous operation and increase order sizes, boosting their annual revenue by 82% on average, according to Technoserve, one of 4GCapital’s partners. In addition to the revenue growth, clients report 96% increased financial literacy and deliver a net promoter score (which measures customer satisfaction) of 82 out of 100.