Kenya’s agri-SMEs to benefit from Ksh.2.5 billion avenews financing

Since its establishment in 2017, Avenews has been developing digital financing solutions tailored for businesses in the agricultural supply chain across Africa.

Avenews Country Manager Emmanuel Murai highlighted the company's key products—Agri-Credit Line, Agri-Supplier Financing, and Agri-Buyer Financing—designed to improve access to credit for agricultural enterprises.

“We are addressing the critical financing gap in agribusiness by providing capital to suppliers, buyers, and other stakeholders,” said Murai during the launch event.

The financing initiative comes as agriculture, despite contributing 34% to Kenya’s GDP, receives only 3.53% of private sector credit. A recent report by Aceli Africa highlights a $65 billion annual financing gap for agri-SMEs across Africa, underscoring the need for targeted financial solutions.

Avenews CEO Jonathan Tseelon emphasized that the company’s products are structured to align with the cash flow cycles of agricultural businesses.

“Our goal is to provide quick, accessible financing that helps agri-SMEs improve cash flow, increase inventory, and scale operations,” he stated.

Moses Kimani, an advisor to the PS State Department of Livestock Development, acknowledged the role of innovative agri-financing models in enhancing credit access for agribusinesses.

“These solutions will strengthen the agricultural supply chain and support government policies for sector growth,” he noted.

The launch event brought together key stakeholders, including representatives from the East Africa Grain Council, Kenya Agricultural & Livestock Research Organization (KALRO), and fintech partners, reflecting a collaborative effort to boost agricultural financing in Kenya and beyond.