Official Blog

This month we have made several microfinance bids in Africa, which we would like to keep you updated on – and as usual hope that this will inspire you to follow suit.

We supported three projects in Kenya: Businesswoman Odilla founded her company Steod Beauty Products in 2005 and it has been growing ever since. She specializes in selling garments, shoes, handbags, hair products, cosmetics, perfumes, jewelery and other beauty products. She also runs a general shop where she sells sweets, cakes and rice.

The second Kenyan business we invested in is John Gitobu’s construction company Jozipy Hardware. John is selling construction materials and since he has some big projects coming up, he needs to buy a larger vehicle in order to transport his goods. The third Kenyan entrepreneur is Susan Kanyeki, who started her business called Friendly Farms in 1993.  She now possesses her own cooling plant which currently process up to 10,000 litres of milk per day. The business is looking to diversify into the more lucrative cheese and yoghurt markets. Susan has therefore begun constructing her own production factory.

We also made two investments in Tanzania: Sebastian Abdala Msola owns the logistics company Samtco Transport, which provides national and international transportation solutions to major African shipping companies. Since the demand for transporting big containers and logs increases, Sebastian would like to buy a new truck. The second entrepreneur from Tanzania is Imaculata Damas Paul. She owns a clothes and cosmetics shop and employs one more female sales person. She now wants to offer more goods to meet her customers’ demands.

We wish all of them best of luck with their business and are looking forward to more interesting projects we can support.

Tags: microfinance

This entry was posted on Monday, November 9th, 2009 at 15:55 and is filed under Investing in sustainability. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.