4G Capital raises $2m from GIF Growth
The East African fintech company provides financial services to micro and small enterprises.
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4G Capital, an East African fintech company providing financial services to micro and small enterprises (MSEs), has secured a strategic investment of $2 million from GIF Growth, the Global Innovation Fund’s dedicated growth-stage vehicle.
More than 80% of employment in East Africa comes from the MSE sector, but many businesses remain excluded from formal credit systems, partly due to limited financial records. Since its inception in 2013, 4G Capital says it has disbursed more than $800 million in loans to more than 755,000 clients across Kenya and Uganda.
Speaking on the investment, 4G Capital founder and executive chairman Wayne Hennessy-Barrett said: “We are delighted to partner with the Global Innovation Fund. This investment provides us with the right kind of capital to scale our model sustainably and expand access to working capital and training for underserved entrepreneurs, particularly women and youth led businesses.”
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