British International Investment – BII, the UK’s development finance institution, has announced a $100 million Tier 2 capital facility for KCB Bank Kenya. The funding aims to expand the bank’s lending to climate-related projects and women-led small and medium-sized enterprises [SMEs].
The investment will strengthen KCB’s financial position and support local businesses advancing renewable energy, green mobility, and sustainable agricultural value chains. It aligns with KCB’s commitment to the UN Sustainable Development Goals Gender Equality [SDG 5], Decent Work and Economic Growth [SDG 8], and Climate Action [SDG 13].
A key focus is empowering women entrepreneurs through KCB’s Female Led and Made Enterprises [FLME] initiative. This program addresses financial barriers that women face, particularly in the informal sector, by improving their access to credit.
Strengthening Kenya’s Green and Inclusive Economy
Chris Chijiutomi, MD and Head of Africa at BII, stated:
“This facility underscores BII’s commitment to strengthening Africa’s banking sector. By supporting KCB, we help scale investments in climate projects and expand opportunities for women-led businesses, crucial for Kenya’s economic growth and green transition.”
This investment qualifies for the 2X Challenge, an initiative co-founded by BII to promote gender diversity in financial institutions.
“This collaboration enhances our lending to climate-aligned businesses and women entrepreneurs while strengthening our capital base. We aim to stimulate sustainable economic growth.” Emphasized Paul Russo, CEO, KCB Group.
Under the FLME platform, KCB has allocated KES. 50 billion annually to support women-led businesses, with at least KES. 150 billion already disbursed since the initiative launched in 2022. This effort fosters entrepreneurship and job creation.
Daniel Wilcox, Economic Counsellor at the British High Commission Nairobi, highlighted the UK’s commitment to long-term investment in Kenya:
“Kenya has a thriving business environment, yet access to finance remains a challenge. We look forward to working with KCB to drive impactful change.”
