KCB Group and African Export-Import Bank (Afreximbank) have announced a Ksh 103.2 billion funding for individual investors at the Vipingo Special Economic Zone in Kilifi County.
The two financiers have signed a memorandum of understanding that will provide financial assistance to prospective investors to establish operations within the SEZ.
KCB Group Chief Executive Officer Paul Russo said the financing will focus on manufacturing, agro-processing, logistics, and value-addition enterprises within the SEZ.
“This agreement marks a significant step in our mission to catalyse sustainable industrial growth in Kenya and across the region. We are delighted to elevate Vipingo SEZ as a gateway to transforming, creating and sustaining an environment in which export-oriented industries can thrive, by leveraging economies of scale, shared infrastructure and access to global markets,” said Russo.
Under the agreement investors will secure working capital facilities, project finance, trade financing, project preparation facility, guarantees and advisory support among others.
“Afreximbank’s mandate is to promote and expand African trade, and this partnership with KCB is a concrete demonstration of that commitment. Special Economic Zones are powerful engines for industrialization, export growth, and economic diversification. Through this financing framework, we will not only enable enterprises to scale but also support the creation of sustainable supply chains that uplift local communities and drive regional integration,” added Oluranti Doherty, Afreximbank’s Managing Director for Export Development.
The pan-African multilateral development bank will provide initial funding amounting Ksh 54.5 billion ($500m) while KCB Group will provide Ksh 38.7 billion ($300).
Vipingo SEZ which is backed by Centum Investment sits on a 10, 254 acres piece of land and is designed to accommodate industrial park, residential properties, retail and commercial centres and institutional property.
The funding to Vipingo SEZ is under the Afreximbank’s $3 billion Country Programme to Kenya signed in May 2023 to support the development of various sectors of its economy.
The funding targets the Naivasha Industrial Park, Dongo Kundu Industrial Park with Vipingo SEZ being the latest.
Already, Afreximbank has disbursed $40 million in funding to facilitate the development of the Vipingo Special Economic Zone (SEZ).
They were speaking at the Arise Integrated Industrial Platforms (Arise IIP) Kenya Investment Forum 2025 in Vipingo.
