Exotic EPZ Ltd has received a Sh5 million soft loan from pro-green technologies Kenya Climate Innovation Centre (KCIC).
Jane Maigua, Exotic EPZ Managing Director said the funding has provided them with working capital that will help them improve on efficiency and boost product availability to their customers.
The facility, provided by Autodesk Foundation — a private nonprofit organisation supporting innovation — will enable the firm to raise its farmer base from the current 1,500 members and make prompt payments for macadamia nut deliveries.
Edward Mungai , KCIC Chief Executive Offcer said small enterprises running climate-friendly businesses will be targeted to enable them scale up operations as well as widen market reach.
“Our early stage financing facility is a game-changer that will support young enterprises in their quest of identifying innovative, market-based climate solutions and help them move toward greater financial growth,” said Mungai.
He said that Autodesk Foundation had pledged more funds for startups with viable business ideas that need seed capital to scale up.
“Climate change poses a real threat to Kenya’s development prospects and livelihoods as it undermines investments made to meet Kenya’s development agenda.
“The drivers of Kenya’s economy are primarily natural resource-based, notably agriculture, trade, industry, tourism as well as the services sector including water, energy, and transport,” Mungai said.