This is discussion about East African Rural Enterprise Facility: to reach underserved agricultural SMEs .
Aside from the strong partnerships that are already formalized, I would think that the key to this endeavor's longterm success is the fact that you've addressed that SMEs need to be trained in basic areas such as financial management, business planning, and good governance to ensure that they have the business capacity to not only repay their loans, but also to manage stronger businesses that can successfully scale and become the backbone of the agricultural sector in East Africa.
Great entry! Good luck!
This program will be of great assistance to the local SMEs,the Vision 2030 Economic Pillar banks on the empowerment of the SMEs. SMEs have typically had very little recourse to traditional source of capital.
Furthermore,Kenya's agricultural development remains the most important contributor to GDP.
On October 27, 2010, the judges reviewed entries for the Changemakers G-20 SME Finance Challenge competition and would like to pass on the following feedback for your entry (below). Thank you for applying and for your hard work in the field. We are excited to archive your entry to serve as a leading solution for the worldwide community of innovators. We wish you continued luck with your innovative, sustainable, and socially impactful initiatives.
All the best,
The Changemakers Team
The focus on agriculture of this entry is very important. The agricultural sector is an area that, particularly in east Africa, is absolutely critical and remains underserved. Simply the ability to get capital into agricultural SMEs is a tremendous difficulty, and if they can actually do this and leave behind sustainable businesses it creates long term relationships that really will grow the sector.
One area of concern is the high execution risk of working in such a difficult sector, and so this will need to be well-managed.