Ecobank Kenya has injected KSh 3.5 billion into its capital base, ramping up its total core capital to KSh. 8.5 billion as it works to meet the Central Bank of Kenya’s (CBK) new capital requirements.
- •The CBK mandates that all banks operating in the country hold a minimum core capital of KSh 10 billion by 2029.
- •The policy is aimed at strengthening the banking sector’s resilience against economic shocks; a move that will prompt banks to seek additional financing—mainly through mergers, bourse listing, and strategic partnerships.
- •Ecobank’s latest capital boost is also intended to enhance its ability to support small and medium-sized enterprises (SMEs), fintechs, and women-led businesses.
“Kenya is a strategic market for the Ecobank Group and a key economic hub in East Africa. This capital reinforcement positions us to seize new business opportunities and deliver long-term value for stakeholders,” said Jeremy Awori, Group CEO of Ecobank Transnational Incorporated.
The capital injections will also enable the lender to expand its reach in high-impact sectors like agriculture, manufacturing, and tourism. Ecobank will double down on its focus in facilitating regional trade and digital payments.
Josephine Anan-Ankomah, Ecobank Kenya’s Managing Director and Regional Executive for Central, Eastern, and Southern Africa, emphasized the bank’s intent to leverage its pan-African network to strengthen cross-border payments and fintech partnerships.
“Beyond financing, our focus is on providing businesses with the capital and expertise they need to scale, create jobs, and drive sustainable economic transformation,” she added.
The capital injection marks a significant step in Ecobank’s strategy to navigate the evolving regulatory landscape while positioning itself as a key player in East Africa’s financial sector.
