European development finance institutions Norfund and Swedfund have announced a $4 million follow-on loan to Kinyeti Venture Capital, a joint venture established in 2012 to provide risk capital to local small and medium enterprises (SMEs) in South Sudan.
Kinyeti is the only provider of USD-denominated risk capital in the country and helps to build the private sector by offering capital to entrepreneurs and growing businesses.
The investment will help Kinyeti to continue to support SMEs in the country amidst political and economic
instability. Kinyeti has invested almost $11 million in 21 companies to date and plans to invest another $10 million over the next four years.