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We are extending a loan to Somo Africa, an accelerator that targets micro and small business owners in Nairobi’s slum areas. Our loan will be directed to green and circular businesses selected by Somo.
These include business models based on recycling and upcycling of materials in line with our climate action commitment.
In slum areas, entrepreneurs face difficulties in scaling impactful, viable businesses due to limited access to relevant training, support services, funding and market access. Somo plugs this gap by providing the requisite support in the form of business training, market access and capital.
Since inception, Somo has supported over 5,200 business owners with digital tools, trained 1,300 entrepreneurs, and funded 300 businesses that have created over 6,000 jobs across 45 Kenyan communities.
