By Julius Musungu
Small and medium agribusiness enterprises will benefit from 535Million shillings from Cyprus based private Equity Vital Capital in partnership with the US government and Kenya Investment Mechanism(KIM) which was set up to help firms affected by the COVID 19 pandemic.
Vital Capital managing partner Nimrod Gerber said the firm was looking to create at least 500 jobs through this investment.
“Vital Capital and KIM are seeking to identify and execute at least Sh500Million in the financing, to alleviate the strain of COVID 19 on impactful Kenyan Businesses thereby sustaining 500 jobs,” Gerber said.
Gerber added that he believed that the collaboration has the potential to affect real change and support smallholder farmers to survive the worst ravages of the COVID 19 related economic crisis.
The investment will enable local firms to strengthen their farm to market value chains to maximize returns and reduce losses.