Established in 2020 as a business-to-business marketplace connecting African producers to global buyers, Kwely quickly established traction with a revenue-generating model. But within 18 months it was caught in the “missing middle” funding gap, a challenge faced by small and growing businesses that are too big for microfinance and too small or risky for traditional bank lending.
Read MoreAn expanding range of financing mechanisms and vehicles are emerging to help private capital providers direct money and resources to their small business communities. Among these, fund of funds are proving to be an instrumental early supply of capital for fund managers investing in small and growing businesses in Africa and the Middle East.
Read MoreSmall businesses are the growth engine for inclusive and resilient development in Africa. Yet the $330 billion annual financing gap remains stubbornly sticky because few financial institutions and investors are prepared to fund small businesses.
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