The funding, announced by BII, the UK’s development finance institution and impact investor, will strengthen KCB’s balance sheet while supporting local enterprises working on innovative climate solutions.

This includes businesses in renewable energy, green mobility, and sustainable agriculture value chains.

The initiative aligns with KCB’s commitment to the United Nations Sustainable Development Goals (SDGs) 5 (Gender Equality), 8 (Decent Work and Economic Growth), and 13 (Climate Action).

One of the primary objectives of the funding is to enhance access to credit for women-led small and medium-sized enterprises (SMEs), particularly those in the informal sector.

This will be facilitated through KCB’s Female-Led and Made Enterprises (FLME) initiative, which seeks to address systemic barriers such as restrictive policies and cultural norms that limit women’s financial inclusion and entrepreneurial growth.

Chris Chijiutomi, Managing Director and Head of Africa at BII, emphasized the significance of the partnership, stating:

“This facility demonstrates BII’s commitment to strengthening Africa’s banking sector by collaborating with financial institutions that drive inclusive and sustainable business growth.”

“Kenya remains a key market for BII, and by providing capital to KCB, we are enabling increased investment in climate projects and expanding opportunities for women entrepreneurs—essential elements for Kenya’s economic development and green growth strategy.”

This investment qualifies under the 2X Challenge, a global initiative that promotes gender diversity in business, reinforcing BII’s efforts to support investments that advance women’s leadership in financial and corporate sectors.

KCB Group CEO Paul Russo welcomed the partnership, highlighting its impact on sustainable lending:

“This collaboration marks a significant milestone in our commitment to expanding financial support for climate-friendly enterprises and women-led businesses while reinforcing our capital base. We aim to scale our impact to drive sustainable economic growth.”

Under the FLME platform, KCB has pledged KShs. 50 billion annually to support women entrepreneurs.

Since the program’s launch in 2022, the bank has already extended at least KShs. 150 billion in loans, fostering entrepreneurship and creating employment opportunities.

Daniel Wilcox, Economic Counsellor and Head of Prosperity and Climate at the British High Commission in Nairobi, reaffirmed the UK’s commitment to Kenya’s economic development.

“The UK remains a long-term investment partner for Kenya, supporting mutual economic growth. While Kenya’s business environment is dynamic, access to finance remains a key challenge. We look forward to working closely with KCB to drive meaningful change for businesses.”