Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


Women-only SME in Turkana secures bridge financing to supply to Tullow Oil

Akiberan Aberu Suppliers and Contractors is based in Lokichar Turkana County

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.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...


NAIROBI, Kenya, Mar 16 – The World Bank has given the Kenyan government USD 60 Million (Sh6.1 billion) to help combat the deadly coronavirus pandemic...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...


NAIROBI, Kenya, Mar 25 Kenyans who will fail to pay their dues by April 1 will not be listed in the Credit Reference Bureau...


NAIROBI, Kenya, Mar 13 – Meet Kennedy Okaka, the CEO of PH Africa which manufacturers and distributes hand sanitizers. Okaka speaks to Capital Business...