The ‘missing middle’ of the financial services spectrum in much of sub-Saharan Africa means that start-ups are unable to find the investment they need to grow. That may be about to change with the arrival of more venture capital funds that target low-income mass market.
In a 2015 poll by research analysts Intellecap, 68% of business leaders in Kenya, the main business hub in East Africa, said access to finance is a challenge. 40% said they were forced to self-finance their business.
Image: Pay-as-you-go solar power schemes are among the products aimed at the low-income mass market in East Africa. (DIVatUSAID / Flickr)
