Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
Loans to small and medium enterprises (SMEs) on the continent have increased over the past year, even as most similar businesses globally reduce borrowing following improvement of the economic from the slump of the pandemic and Ukraine crises.
Latest figures from the International Monetary Fund (IMF) show that while the amount of outstanding loans owed by SMEs in 2022 generally decreased in Europe, Middle East, Central Asia, and the Western countries, in Africa, they increased.
