Equity and BpiFrance have announced a groundbreaking trade financing partnership aimed at accelerating SME growth across East Africa. The collaboration, formalized during French Week 2024 in Nairobi, represents a bold step toward empowering SMEs with expanded access to capital and fostering trade between Africa and Europe.
The agreement, signed by Equity Group CEO Dr. James Mwangi and BpiFrance CEO Nicolas Dufourcq, will provide SMEs with financing options in both Kenyan Shillings and US Dollars. This move supports Equity’s mission to enable small businesses to scale their operations and thrive within Kenya and the other five countries in which it operates.
Expanding Trade Opportunities for SMEs
Dr. Mwangi emphasized the partnership’s potential to bridge the financing gap for SMEs while strengthening trade links between Kenya and Europe. “This agreement facilitates trade finance, opens credit lines, and crafts guarantees to enable SMEs to grow into larger enterprises and corporates,” he noted, adding that Nairobi’s position as a financial hub is key to driving regional economic integration.
BpiFrance CEO Nicolas Dufourcq echoed these sentiments, describing Africa as “the continent of the future.” He highlighted France’s investment interest in Kenya, particularly in agriculture, fintech, and renewable energy, and underscored the partnership as a gateway to technology transfer, capital flow, and entrepreneurship.
A Boost from Kenya’s Economic Partnership Agreement
This collaboration aligns with Kenya’s Economic Partnership Agreement (EPA) with the EU, which grants duty-free access to European markets. By leveraging the EPA framework, the partnership is poised to catalyze job creation and unlock trade opportunities for Kenyan businesses in the trillion-dollar European market.
Equity will also de-risk investments for French companies expanding into Africa, offering syndicated loans in local and foreign currencies. With Equity’s growing footprint in French-speaking regions like the DRC, the partnership strengthens ties between French businesses and the African continent.
Dr. Mwangi underscored the broader vision: “We want European companies to invest in Africa, bringing technology, capital, and entrepreneurship to drive local manufacturing, reduce raw material exports, and create jobs.”
Supporting SMEs for a Resilient Future
This partnership is part of Equity’s Africa Recovery and Resilience Plan (ARRP), which focuses on creating sustainable opportunities for SMEs and fostering regional development. Similar initiatives, such as the German Desk launched earlier this year, highlight Equity’s commitment to connecting international markets with local businesses.
As Equity deepens its influence across East and Central Africa, partnerships like this one reflect its core mission: transforming lives and businesses by equipping SMEs with tools and opportunities for growth.
For SMEs in Kenya and the wider region, this partnership signifies a powerful step toward greater financial access, trade expansion, and economic empowerment.
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