Equity Bank Kenya is set to receive KSh5.66 billion from the British International Investment (BII) – formerly known as CDC Group – for onward lending to Small and Medium sized Enterprises (SMEs).
The funds will be geared to boost business prosperity and help drive Kenya’s economic growth. However, no timeline has been given for when the funds will be disbursed to the bank.
The UK is further seeking to increase its support for green manufacturing in Kenya by providing an additional KSh61 million to help Kenya build a green manufacturing industry, increasing its support to the Ministry of Trade and the wider Kenyan manufacturing sector in this area.
As Business Daily reports, Kenya is already the third biggest portfolio for BII, with KSh42 billion investments across 83 companies.
In October 202, Equity Bank was named Africa’s best bank for Small and Medium Enterprises (SMEs) in the Euromoney awards.
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