Tier 2 capital financing to enable KCB to fortify its total capital position and grow its loan book to climate-related projects and women-owned and led businesses.
British International Investment (BII), the UK's development finance institution and impact investor, has announced the provision of a $100 million Tier 2 capital facility to KCB Bank Kenya to increase its lending capacity to climate-related projects and women-led small and medium-sized enterprises (SMEs).
The funding will strengthen KCB Bank’s balance sheet and fund local companies scaling innovative climate technologies, including renewable energy, green mobility, and firms creating sustainable value chains in the agriculture sector. It also aligns with the bank’s adopted UN Sustainable Development Goals 5 (Gender Equality), 8 (Decent Work and Economic Growth), and 13 (Climate Action).
The new facility will support the Bank to extend finance to women-owned and led SMEs, particularly those in the informal sector, through the Female-Led and Made Enterprises (FLME) proposition. This seeks to address systemic challenges, discriminatory policies, and cultural barriers restricting women’s access to credit, which are key hurdles for those aspiring to entrepreneurship and business growth.
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 qualifies for the 2X Challenge, of which BII is a founding member, due to the Bank’s commitment to support gender diversity through its investments as well as within its business at the board level and across its workforce.
KCB Group CEO Paul Russo commented: "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.”
This collaboration strengthens KCB investments under the FLME platform, to which KCB has dedicated KShs. 50 billion annually to support women-owned and operated businesses. To date, the Bank has extended at least KShs.150 billion to customers under the initiative launched in 2022, fostering entrepreneurship and creating meaningful job opportunities.
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.”
KCB Bank Kenya has announced 14 winners in its February Valentine's draw of the Revvvisha na KCB Promotion, with each winner receiving a romantic dinner for two worth Ksh 14,000. This announcement follows January's successful school fees draw where 50 customers each received Ksh 50,000.
The ongoing promotion, aligned with the upcoming 2025 World Rally Championship Safari Rally event which will be going down from the 20th to the 23rd of March in Naivasha, continues to reward customers while encouraging a savings culture through the KCB Goal Savings Account.
Upcoming Rewards
The promotion continues with more exciting prizes:
· March 2025: 50 winners will receive fuel vouchers worth Ksh 10,000 each
· April 2025: 30 winners will receive mbuzi worth Ksh 15,000 each
Additionally, one customer stands to win the grand prize - an eighth-acre plot at Kingswood Park, Vipingo, valued at Ksh 3 million courtesy of Centum Real Estate.
Participation Details
New customers can participate by:
· Opening a KCB Goal Savings Account with Ksh 5,000. Dial *522#, visit the KCB website or any KCB branch to get started!
· Maintaining monthly deposits of at least Ksh 2,500
Existing customers qualify by maintaining monthly deposits of Ksh 2,500.
For the grand prize plot:
· Select 'plot purchase' or 'house purchase' as the savings goal
· Save a minimum of Ksh 50,000 by April 30th, 2025
The promotion runs until April 30th, 2025. For more information, visit ke.kcbgroup.com.
We're thrilled to announce our first set of winners in the Revvvisha na KCB Promotion! 50 of our Goal Savings Account holders have each won Ksh 50,000 in school fees support, helping them kickstart their 2025 academic journey.
This is just the beginning of our exciting rewards journey. As we gear up for the 2025 WRC Safari Rally, we're committed to making your savings count. Every month brings new opportunities to win:
Plus, one lucky saver could win our grand prize - an eighth-acre plot at the prestigious Kingswood Park, Vipingo, valued at Ksh 3 million courtesy of our partners, Centum Real Estate!
It's simple! If you're new to KCB:
Already have a Goal Savings Account? Just keep saving Ksh 2,500 monthly to qualify.
For a chance at the grand prize plot:
Save easily through:
Don't miss out on your chance to win. Start saving today!
View full list of January winners here
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