Richard Muteti, OGW, HSC: Championing Africa’s MSME Agenda Through the $1.4 Billion Ubuntu Susu Fund

Richard Muteti, OGW, HSC: Championing Africa’s MSME Agenda Through the $1.4 Billion Ubuntu Susu Fund

Africa’s small businesses could gain new financing opportunities through the proposed $1.4 billion Ubuntu Susu Continental SME Fund, a pan-African blended-finance initiative aimed at addressing persistent capital constraints facing micro, small and medium enterprises (MSMEs).

Richard Muteti, OGW, HSC, Chief Executive Officer of the Confederation of Micro and Small Enterprises Organization of East Africa (COMSECA) and Chairperson of the Advisory Council of the All-Africa Association for Small and Medium Enterprises (AAASME), is among the leaders advancing the continental MSME agenda.

His recent bilateral engagement in Nairobi with Dr Ebiekure Jasper Eradiri, President of AAASME, highlighted efforts to strengthen institutional collaboration and explore innovative financing solutions for African entrepreneurs.

The proposed Ubuntu Susu Fund seeks to bridge the financing gap facing millions of businesses, including informal traders, artisans, women-owned enterprises, youth-led start-ups and small-scale manufacturers.

Drawing inspiration from the African philosophy of Ubuntu and the traditional Susu savings model, the initiative seeks to combine collective financial participation with modern blended-finance approaches to expand access to capital.

As Chairperson of the AAASME Advisory Council, Muteti plays a role in advancing discussions and partnerships aimed at strengthening MSME representation, improving the business environment and promoting enterprise development across Africa.

Through COMSECA East Africa, he has also championed the interests of micro and small enterprises, highlighting the importance of affordable credit, supportive policies, market access and an enabling regulatory environment.

The proposed fund’s eventual impact will depend on effective partnerships, transparent governance and financing arrangements that ensure resources reach eligible businesses.

For Africa’s entrepreneurs, the initiative represents an opportunity to translate the continent’s vast entrepreneurial potential into business growth, employment creation and economic inclusion.

Muteti’s engagement with AAASME leadership underscores the importance of collective institutional action in building a stronger continental MSME sector and placing small businesses at the heart of Africa’s economic transformation.