KCB Bank Kenya has secured a $100 million Tier 2 capital facility from British International Investment (BII), the UK’s development finance institution and impact investor. The funding aims to increase KCB’s lending capacity, particularly for climate-related projects and women-led small and medium-sized enterprises (SMEs).
The financing will bolster KCB Bank’s balance sheet, enabling it to support local businesses that scale innovative climate technologies, including renewable energy, green mobility, and sustainable agriculture. This initiative aligns with the United Nations Sustainable Development Goals (SDGs) 5 (Gender Equality), 8 (Decent Work and Economic Growth), and 13 (Climate Action).
The facility will also advance KCB’s Female-Led and Made Enterprises (FLME) proposition, which aims to address systemic barriers that limit women’s access to credit. Through this initiative, KCB will extend more financial support to women-owned and led SMEs, particularly in the informal sector, fostering entrepreneurship and job creation.
Chris Chijiutomi, Managing Director and Head of Africa at BII, emphasized the significance of this partnership: “This facility reflects BII’s commitment to strengthening Africa’s banking sector through partnerships that drive inclusive and sustainable business growth. By supporting KCB Bank Kenya, we aim to scale investments in climate projects and create more opportunities for women-led businesses—critical components of Kenya’s economic development and green growth strategy.”
This investment aligns with the 2X Challenge, a global initiative co-founded by BII to promote gender diversity. KCB’s commitment to supporting women-led businesses and advancing gender diversity at the board level and across its workforce qualifies the investment for the challenge.
Paul Russo, CEO of KCB Group, highlighted the impact of the collaboration: “This partnership marks a significant step toward expanding our lending to climate-aligned businesses and women-led enterprises while strengthening our capital position. We aim to scale this support to stimulate sustainable economic growth.”
Since launching the FLME initiative in 2022, KCB has allocated KShs. 50 billion annually to support women-owned businesses, extending over KShs. 150 billion to customers to date. This funding has helped foster entrepreneurship and create meaningful job opportunities across Kenya.
Daniel Wilcox, Economic Counsellor and Head of Prosperity and Climate at the British High Commission Nairobi, reaffirmed the UK’s long-term investment commitment to Kenya: “Kenya has a vibrant business environment, but access to finance remains a constraint. We look forward to working with KCB to drive positive change and impact for businesses.”
This $100 million investment reflects KCB’s ongoing efforts to support sustainable economic development, empower women entrepreneurs, and drive climate action in Kenya.
