BIO has granted a USD 22 M loan to KCB Kenya, the largest commercial bank in Kenya.
Type of investment
- Local economic growth
- Food security & rural development
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
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
Promotion of gender equality: 2X eligible on three criteria (Leadership, Employment & Consumption)
Read impact and news about this project
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.
View more of our investments in this region
Investment Companies & Funds
Ghana, Kenya, Nigeria, South Africa, Uganda