The Co-operative Bank of Kenya (Co-op Bank), which is the fourth-largest bank in the country by assets, will benefit from a long-term syndicated loan of $15 million from the Swedish development bank -Swedfund. The Kenyan bank will use the resources to increase its support to SMEs and finance green projects.
“We have an important role in supporting strong and healthy financial institutions like Co-op Bank to help them to continue lending to local businesses and entrepreneurs. By providing long-term funding to Co-op Bank that has its background and a strong footprint in rural areas with a clear and focused agenda for SMEs - and green finance we can support inclusive and sustainable growth, in particular in the currently challenging environment,” said Maria Håkansson, Head of Swedfund.
This new credit line is part of an overall $75 million financing mobilized by the Kenyan bank from a consortium, led by the International Finance Corporation. The amount will also strengthen Co-op Bank’s capital.
Over the first half of 2020, Co-op Bank granted loans up to KSh270.7 billion ($2.4 billion) to its clients, higher than the KSh255.8 billion granted the same period in 2019.
Chamberline Moko
From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...
Malawi votes in high-stakes presidential election Tuesday Economic crisis, inflation dominate vot...
Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...
Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...
Even though it remains the smallest "crypto-economy" in the world, sub-Saharan Africa shows that vir...
5G penetration in Sub-Saharan Africa stands at 1.2% despite $28 billion in operator investments over five years. High smartphone and data plan...
Mombasa's commuter train service resumed on September 17, 2025, after modernization. The expanded 16.6 km line connects Mombasa's main district and...
INP-HB and HABG signed an MoU to develop an Executive Master's in Compliance and Anti-Corruption. The program aims to train competent professionals in...
DBSA closed a 100 mln rand ($5.7 mln) financing for EV charging stations. Local firm Zero Carbon Charge will build 60 solar-powered stations by...
Surprisingly, only one African song made it onto Rolling Stone's list of the 500 Greatest Songs of All Time. The track is "Essence," a collaboration...
The Umhlanga Festival, also known as the “Reed Dance,” is one of the most iconic cultural events in the Kingdom of Eswatini in Southern Africa. Every...