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Family Bank and the European Investment Bank Global are targeting to raise Ksh 14.5 billion to support lending to women and youth enterprises.
EIB Global has committed Ksh 7.3 billion (€50m) million credit line to Family Bank with the Kenyan lender matching the balance to expand loans to Kenyan small and medium-sized enterprises (SMEs).
“This partnership not only supports our 2025–2029 strategy to scale SME lending and deepen market segmentation but also enables us to better address the specific needs of SMEs across various value chains for sustainable growth and long-term value,” said Nancy Njau, Family Bank Chief Executive Officer.
50pc of the financing will target businesses owned or run by women while a further minimum of 30pc will be extended to youth entrepreneurs.
Family Bank says the credit line will strengthen it’s lending capacity to SMEs which currently make up at least 80pc of its customer base.
Additionally, EIB Global will provide Family Bank with technical assistance to enhance its gender strategy and product offering.
“The financing partnership we now have with Family Bank will inject much-needed capital into Kenya’s private sector to support businesses and create employment,” added Thomas Ostros, EIB Vice-President.
The agreement signed during the second EU-Kenya Business Forum in Nairobi is part of the EU’s Global Gateway strategy to promote trade, manufacturing, agriculture, climate action and services, which are key priorities in Kenya.
