Nairobi, February 24, 2025 – British International Investment (BII), the UK’s development finance institution, has provided a $100 million (KES 13 Billion) Tier 2 capital facility to Kenya Commercial Bank (KCB) Kenya to expand lending for climate-related projects and women-owned small and medium-sized enterprises (SMEs). The deal will boost KCB’s capital base, enabling it to finance renewable energy, green mobility, and sustainable agricultural value chains, while also supporting women entrepreneurs, particularly in the informal sector. The investment aligns with UN Sustainable Development Goals on gender equality, economic growth, and climate action.
The facility will enhance KCB’s loan book, targeting firms innovating in climate technologies and women-led businesses through its Female-Led and Made Enterprises (FLME) platform. Since launching FLME in 2022, KCB has disbursed KShs.150 billion, with an annual commitment of KShs.50 billion to address credit access barriers rooted in systemic challenges and cultural biases. The BII funding qualifies for the 2X Challenge, reflecting KCB’s efforts to promote gender diversity in its investments, boardroom, and workforce.
Chris Chijiutomi, MD and Head of Africa at BII, said, “This facility is a testament to BII’s commitment to strengthening Africa’s banking sector through partnerships with financial institutions that are driving inclusive and sustainable business growth. Kenya is an important market for BII. By providing supplementary capital to KCB Bank Kenya, we are helping to scale investments in climate projects and create more opportunities for women-owned and led businesses – critical to Kenya’s economic development trajectory and a national plan for green growth.” The investment underscores BII’s focus on Kenya as a hub for sustainable economic progress.
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Annastacia Kimtai, KCB Bank Kenya Managing Director, stated, “The partnership marks a significant step towards the expansion of our lending to climate-aligned businesses and women-led enterprises while bolstering our capital position. We want to scale the support to stimulate sustainable economic growth.” The funding strengthens KCB’s ability to drive entrepreneurship and job creation, key pillars of its strategy.
Daniel Wilcox, Economic Counsellor & Head of Prosperity and Climate at the British High Commission Nairobi, added, “The UK is a long-term partner providing long-term investment in Kenya, as we work together to deliver mutual economic growth for both our nations. Kenya has a vibrant and entrepreneurial business environment, but access to finance continues to be a constraint. We look forward to working closely with KCB to deliver the needed change and impact for businesses.” The collaboration reflects a broader UK-Kenya partnership to unlock private sector potential.
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By fortifying KCB’s balance sheet, the $100 million facility positions the bank to meet rising demand for green and inclusive financing. Kenya’s ambitions for a low-carbon economy and greater gender equity in business rely on such investments to bridge funding gaps. With this deal, KCB can amplify its role in fostering sustainable growth, supporting both national priorities and the livelihoods of women entrepreneurs and rural innovators across the country.
