Swedfund provides a loan of €10 million to Premier Credit (Kenya)

The Swedish Development Finance Institution known as the Swedfund has provided a loan of €10 million to Premier Credit which is micro-lender that provides credit to SMEs and individuals in Kenya, Tanzania and Uganda. Premier Credit Limited was established in May 2014 as a microfinance institution that provides solutions to SMEs that have verifiable daily cash flows. The company able to process applications and disburse funds within 24 hours. Swedfund believes that Premier Credit will make an important contribution to job creation which is a key factor in poverty reduction in the East African region as the SME sector contributes to the bulk of job-creation in Africa.

 

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