4G Capital said to receive loan from Citi

4G Capital, a neobank designed for the whole of Africa, has reportedly partnered with Citi to support the growth of micro-enterprises in Kenya.

The agreement will see 4G Capital receive a KES 285m ($2.62m) loan from Citi, which will help over 25,000 micro-enterprises, according to an article from the SME Finance Forum. The deal will also see the two firms collaborate to improve inventory finance needs of last-mile distributors of fast-moving consumer goods (FMCGs).

Additionally, 4G Capital will support Citi’s FMCG’s customers via its KUZA product, which enables businesses to buy on credit rather than paying cash on delivery. Through this, small shop owners can maintain maximum stock levels.

4G Capital offers 100% unsecured business loans for enterprise growth. Its products are personalised, risk-based and rate capped to ensure clients increase their profits.

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