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Vital Capital Sets Up A $5 million Fund To Support Businesses Affected By Covid-19 In Kenya And How To Apply

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Impact investment firm Vital Capital has announced a collaboration with the U.S. Government’s Kenya Investment Mechanism (KIM). KIM is a five-year program funded by the U.S. Agency for International Development (USAID) to unlock significant financing to businesses in targeted sectors that have been adversely affected by the COVID-19 pandemic.

Here Is What You Need To Know

  • Managed by Palladium, an international impact advisory and management firm, KIM aims to unlock $400 million in investments for key sectors of Kenya’s economy, including agriculture, and for regional trade and investment opportunities.
  • By unlocking finance to agribusinesses and other sectors, KIM will pull small and medium-sized enterprises (SMEs) into competitive and growth-oriented value chains to foster broad-based, sustained, and inclusive economic growth in Kenya.
  • Under the agreement, Vital Capital and KIM will collaborate to identify potential opportunities in Kenya Investment Mechanism’s pipeline that corresponds to Vital Capital’s investment mandate and to leverage KIM’s network of transaction advisors to more efficiently bring transactions to close under Vital Capital’s investment committee.

Here Is How To Apply 

  • Vital Capital and KIM are seeking to identify and execute at least five completed transactions, providing at least $5 million in financing, to alleviate the strain of COVID-19 on impactful Kenyan businesses, sustaining 500 jobs.
  • The collaboration follows Vital’s launch in April of the Vital Impact Relief Facility, a $10 million emergency loan facility to offer critical funding to promising African businesses to help them overcome the economic consequences of the COVID-19 pandemic.

For more information, please visit: https://www.usaid.gov/documents/1860/feed-future-kenya-investment-mechanism-kim-program

https://www.thepalladiumgroup.com/

www.feedthefuture.gov.

For Kenya Investment Mechanism

George Mbithi
Communications Manager, Kenya Investment Mechanism
+254 729 453 115 (m)
george.mbithi@thepalladiumgroup.com

For USAID’s Feed the Future

Dave Charles
USAID/Kenya and East Africa Feed the Future Coordinator
dcharles@usaid.gov

Source: https://afrikanheroes.com/2020/07/26/vital-capital-sets-up-a-5-million-fund-to-support-businesses-affected-by-covid-19-in-kenya/


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Are you an entrepreneur? Share your story with us and get featured on our platform send us an email nichole@getfundedafrica.com

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