On December 1, the Hub signed a grant agreement with financial advisory firm Open Capital Advisors Limited. The grant supports a two-year project designed to increase regional exports and investments through tailored business support. Specifically, Open Capital will identify and support 15 high-potential, export-focused businesses with the goal of raising $8 million in capital and enabling long-term growth.
"The partnership with Open Capital Advisors constitutes a key element of our strategy to support the growth of the small and medium enterprise (SME) sector in East Africa; we do expect that the jobs, exports and the growth derived from this activity will contribute to the prosperity of the region, while encouraging the financial sector to engage with SMEs," said the Hub's Chief of Party Juan Estrada
The Open Capital grant contributes to the Hub’s overall objective of increasing trade and investment in East Africa.
"We are very excited to partner with the East Africa Trade and Investment Hub to increase access to finance for high-potential, small and growing businesses. With the Hub's support, we will be able to work with 15 export-focused companies across Ethiopia, Kenya, Madagascar, Rwanda, Tanzania, and Uganda in order to catalyze millions of dollars in transactions under USD $3M. We look forward to partnering together and deepening our presence in the region," said Open Capital Partner Annie Roberts.