Inkomoko partners with TED’s The Audacious Project to invest in 335,000 displaced entrepreneurs in Africa

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Julienne Oyler is the CEO and co-founder of Inkomoko.

Inkomoko, a leading impact organization addressing refugee economic development across Africa, has been named in the 2024 Audacious Project cohort for their innovative approach in humanitarian assistance.

As the global refugee crisis continues to grow, Inkomoko has become famous for offering sustainable solutions by investing in refugee entrepreneurs with advisory support and direct financing of refugee-run small businesses.

Housed at TED, The Audacious Project convenes funders to scale bold solutions to the world’s most urgent challenges. Inkomoko has been selected for its impact and vision to develop thriving economic markets in displacement-affected communities. Funding through “The Audacious Project” will accelerate Inkomoko’s growth over the next six years, scaling its previous reach nearly 6x, enabling 3.4M people affected by forced displacement in East Africa to live dignified and financially independent lives through entrepreneurship.

Inkomoko already provides training, capital, and market linkages to refugee and host community entrepreneurs across 30 communities in 5 countries. Founded in 2012, Inkomoko has supported 90,000 entrepreneurs to grow their businesses, improve their livelihoods, and create jobs for others in their communities as a pathway out of poverty. Inkomoko believes that humanitarian aid is critical to emergency response, and that direct financial investment in displaced persons is the most effective and sustainable model for the future.

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The organization says forcibly displaced people “are asking for the chance to rebuild their lives with the tools of economic development,” noting that with the right support, refugees can contribute meaningfully to local and regional economies.

Inkomoko is the largest lender to refugees in Africa, offering flexible repayment schedules and interest rates less than half the market rate. Inkomoko has disbursed nearly $40M in capital, all of the investments de-risked by their capacity-building services. With a 96% repayment rate, Inkomoko is proving that displaced entrepreneurs are just as investable as any other business.

“We are deeply honored to partner with The Audacious Project to scale opportunities for forcibly displaced persons in Africa,” said Julienne Oyler, CEO and co-founder of Inkomoko.

“Together, we will demonstrate the economic viability of displaced markets, ultimately attracting more investors and private sector companies to join this cause, bringing additional opportunities to marginalized communities in the future.” She said

“Inkomoko’s selection as an Audacious project highlights the importance of supporting local entrepreneurs as they navigate the challenges and opportunities within their communities,” said Inkomoko Chief Program Officer, Mary Mwangi.

“As our operations grow, we also plan to expand partnerships with governments and private sector entities, widening access to business development support and financing for women, refugee, and youth entrepreneurs,” added Mwangi

“Inkomoko’s mission has always been about more than just supporting entrepreneurs. It’s about ensuring that everyone, including overlooked forcibly displaced people, has the opportunity to live with dignity and contribute meaningfully to their families and communities,” said Anne Marie Burgoyne, Managing Director Emerson Collective, an Inkomoko partner and a funder of The Audacious Project.

“Selection into this year’s Audacious cohort is a testament to Inkomoko’s innovative approach that puts the talents of refugees at the centre of their own development.” She stated

Since 2018, The Audacious Project has catalysed more than $5.9 billion to changemakers with bold visions for addressing some of the world’s most pressing challenges.

Inkomoko is a non-profit, social impact organization dedicated to supporting entrepreneurs in refugee settlements and host communities across East and Central Africa.

Since 2012, the organization has worked to break down the barriers refugees face in accessing capital, training, and market opportunities, enabling them to create thriving businesses that contribute to local economies. With operations in Rwanda, Kenya, Ethiopia, South Sudan, and Chad, Inkomoko is committed to building a future where refugees are recognized for their potential and can live self-sufficiently.

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