Kenya
FINANCING GRANTED
Loan of € 2,0M *
(equivalent in local currency)
FOUNDATION PARTNER
Since 2021
*Outstanding amount at grant value
Partner website
CONTEXT:
Kenya is a middle-income country. Agriculture plays a very important role, with the livestock sector accounting for almost 10% of GDP and providing a livelihood for some 1.8 million people. The tea industry generates around US$1.5 billion, and Kenya is the world’s leading exporter of black tea.
THE INSTITUTION:
Sumac Microfinance Bank Limited (Sumac) is a Tier 2 microfinance institution that was established in 2004 by a group of 14 individual investors. It is registered as a limited company and supervised by the National Bank of Kenya as a microfinance bank.
IMPACT:
Sumac mission is to provide financial solutions that transform businesses and livelihoods and impact lives. Sumac provides loans only under the individual methodology.