Kua Ventures Supports 20 Kenyan SMEs With Over US$1M

Twenty small and medium-sized firms (SMEs) in Kenya have benefited from more than $1 million in investments from the impact investing company Kua Ventures, which is based in Kenya.

Founded in 2020, Kua Ventures initially helped SMEs withstand the economic collapse brought on by COVID-19 and the ensuing lockdowns by providing much-needed funding, coaching, and community assistance.

Its US$1 million funding milestone comes after four funding rounds over the previous three years, during which 20 expanding local SMEs were included in Kua Ventures’ portfolio. Madalena Santos, director of operations, stated that the company was committed to helping more small enterprises in Kenya realize their social impact in terms of job creation and poverty reduction.

“Having invested over US$1 million in 20 businesses over the last three years, we have seen the potential in the Kenyan entrepreneurial ecosystem and look forward to investing an additional US$2 million by June 2024 so that entrepreneurs within our portfolio can continue making a positive impact in their communities and beyond,” she said.

According to Executive Director Peter Fry, the organization’s “3C model,” which consists of “capital, coaching, and community,” has been successful during the past three years.

“We have found that our 3C model clearly works in Kenya and that there are many growth-oriented businesses led by impact-driven entrepreneurs throughout the country,” he said. “As revenue grows, the businesses add hardworking employees to their workforce and sustain their own vision of local outreach. In turn, this gives us great optimism about helping more local entrepreneurs grow their businesses and support their communities.”