KCB Kenya
BIO has granted a USD 22 M loan to KCB Kenya, the largest commercial bank in Kenya.
Amount
€ 19,583,388.00
Type of investment
Debt
Development impacts
- Local economic growth
- Food security & rural development
- Gender
Beneficiary locations
Investment field
Financial Institutions
Activity
Commercial bank
Kenya Commercial Bank Kenya (KCBK) is a subsidiary of the holding of KCB Group (KCBG), the largest banking group in east Africa and leading the market in terms of branch network (360), assets (around USD 9 bn) and customer base (around 22.8 M) with presence in 7 countries: Kenya (HQ), Tanzania, South Sudan, Uganda, Rwanda, Burundi & Ethiopia (representative office).
KCB Kenya is seeking to enlarge its MSME portfolio and to build on its existing support for clean energy, green buildings, and climate-smart agribusinesses projects, helping Kenya meet its climate targets.
The transaction is part of a $150m syndication by IFC, together with SANAD and Symbiotics.
The loan will help expand financing to unique market segments like women and youth-owned enterprises
Joshua Oigara, KCB Group Chief Executive Officer & Managing Director
Development impacts
-
Local economic growth
Credit provision to MSMEs
-
Food security & rural development
Food security and rural development - Access to credit for rural/agricultural MSMEs and cooperatives
-
Gender
Promotion of gender equality: 2X eligible on three criteria (Leadership, Employment & Consumption)
Read impact and news about this project
News
IFC, BIO, SANAD & Symbiotics Announce Loan to KCB Bank Kenya for Green Projects, SMEs
16-03-2021
IFC, BIO, SANAD, and Symbiotics announced a loan to KCB Bank Kenya Ltd to help the bank increase lending for climate-friendly projects and to smaller businesses, especially those owned by women.
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