Impact investing is often framed as an equity story: start-ups, venture capital and high-growth companies. These investments have created significant value and will remain an important part of Kenya’s investment landscape. But this framing leaves out much of the Kenyan economy.
For the businesses that employ most Kenyans, the more pressing question may not be who will take an equity stake in them, but who will provide the capital they need to grow. Across the country, millions of businesses are not looking for someone to buy a stake in them. They need loans they can afford, structured around how their cash actually moves.
