The United Kingdom Aid-funded Specialist Approves £1.9billion for African SMEs

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The long-term capital for small and medium enterprises(SMEs) in Africa has been approved for £ 1.9 billion by the united kingdom Aid-funded Specialist development agency, FSD Africa. 

The funding was able to support affordable, affordable housing and sustainable energy project among others.

According to Mark Napier, the chief executive of FSD Africa says the agency has made a significant stride over the past decade by advancing policy and regulatory reforms, enhancing financial infrastructure, and increasing capacity, all while tracking systemic

 Issues in Africa's financial markets. The effort according to him, has led to large-scale and long-term change, providing access to financial services to over 10.2million people and addressing issues related to financial exclusion 

He also said the firm's support for the financial sector has increased access to financial services for about 12 million Africans.

Mark Napier said "Celebrating over ten years of our trailblazing work across Africa is special. In a short space of time, we have strengthened and developed financial markets and tapped into capital by using new instruments such as green and gender bonds. The future is key, and I look forward to continuing our hard work with our collaborative and innovative team. I do not doubt that we will continue to support needs as we move towards sustainable economic development".



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