Safer Power Group has secured Ksh 2.19 billion ($17m) credit from SBM Bank to support expansion of its power infrastructure manufacturing capacity in Kenya.
Under the deal, Safer Power will utilise the financing to support construction of a new factory and green energy manufacturing workshop.
Safer Power Chief Executive Officer Dalmus Mbai backed the funding to support the firm’s expansion of green energy manufacturing.
“Local green energy manufacturers across East Africa face significant financial hurdles, from high upfront capital investments for specialized equipment to severe credit gaps and heavy reliance on expensive foreign supply chains. By localizing engineering, assembly, and green hydrogen technology, we can drastically reduce import dependency, create high-value technical jobs, and lower energy transition costs for industries across the region,” he added.
SBM Bank Kenya Chief Risk Officer Edgar Mwandawiro emphasized the role of targeted financial solutions in scaling sustainable technology across the region.
“Commercial enterprises face rising operational costs and escalating climate risks, access to targeted capital is no longer just an ESG obligation. It is a necessary catalyst to unlock industrial resilience and energy sovereignty for our economy,” said Mwandawiro.
Safer Power plans to use the financing to scale up manufacturing of specialized switchboards, control panels, synchronization panels, distribution boards, meter boards, changeover systems, and battery racks.
