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Family Bank has secured a USD 20 million (Ksh.2.6 billion) trade finance facility from British International Investment (BII), the UK’s development finance institution, aimed at enhancing financial access for micro, small, and medium-sized enterprises (MSMEs) in Kenya’s trade sectors.
The partnership, designed to strengthen trade financing in the country, will allocate the funds to support MSMEs involved in trade, with at least 50% directed towards women-led businesses and agribusinesses.
These include businesses in agricultural production, processing, logistics, infrastructure, and other activities along the value chain.
The facility is also a 2X-qualified investment, which is part of a global initiative to promote women’s empowerment in developing economies.
“SMEs in Kenya face significant challenges, including foreign currency liquidity issues, limiting their access to affordable financing and smooth transactions. As SMEs make up over 80% of our customer base, it is essential for us to introduce innovative, accessible, and cost-effective business solutions,” said Nancy Njau, CEO of Family Bank.
“This partnership will not only support our five-year strategy to expand SME lending and market segmentation but will also accelerate our efforts to close financing gaps for essential businesses, especially those led by women and those in trade and agriculture,” Njau added.
Seema Dhanani, East Africa Regional Director at BII, expressed that the partnership would particularly benefit agri-focused and women-led businesses, aligning with Kenya’s goal to foster a vibrant MSME sector that drives both economic and social transformation.
