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One of the Largest Investments by a Social Media Platform in the SME Sector in Kenya

TikTok, the popular short-form video platform, is setting up a $1.49 million fund to support small and medium enterprises (SMEs) in Kenya, after its earlier announcement to establish its regional headquarters in Kenya. The fund, which is part of TikTok’s global initiative to empower local communities and creators, aims to provide loans, grants, training, and mentorship to Kenyan entrepreneurs who use TikTok to showcase their products and services. If delegated correctly, over 500 SMEs in Kenya will benefit from it and create over 10,000 direct and indirect jobs. However, this isn’t just about financial muscle. TikTok recognizes the vibrant Kenyan community that has fueled its success. Kenya is home to TikTok’s highest usage globally. The country has a staggering 54% share of global TikTok usage, while the global average is only 16%. This shows how much Kenyans have embraced the platform and produced diverse and engaging content which has become a key driver of economic growth and job creation.