SMEs focused mobile financier Kountable launches in Kenya

Limited access to finance has often been cited as a major setback for small and medium enterprises (SMEs) with most winding up before reaching their fifth year.

World over, over 50 per cent of finance requests by SMEs are rejected against the seven per cent rejection rate for multinational institutions.

Targeting to tap into this gap, Kountable -a mobile finance platform that facilitates global trade by leveraging business and social connections –has unveiled in Kenya.

“Since we entered the Kenyan market two months ago, we have handled trade finance for 10 SMEs with Sh5 million being the minimum deal we have had,” said Kountable country director Bramuel Mwalo.