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
Over the past two decades, mobile money has grown into a cornerstone of African finance. Driven by i...
On August 31, 2025, the ruling coalition in Benin Republic—comprising the Union Progressiste pour le...
Nigeria eyes $671m data center market by 2030, seeks Chinese investors. Rising mobile da...
South Africa is advancing with plans to open its payments system to non-banks, with the first lice...
• Tanzania to host investor talks on expanding CNG infrastructure• Government aims to boost CNG use,...
• Nigeria’s CNG price nearly doubles after subsidy reduction• Truck rate hits 450 naira/SCM; cars pay 380 naira/SCM• Fuel cost hike worsens transport,...
• ECOWAS opens 2025–2026 immersion program for young graduates• Offers training in agriculture, IT, health, and project management• Aims to address West...
• Mali grants export permit for Kodal’s Bougouni lithium mine• First 125,000 tons to ship via Côte d’Ivoire to China• Pricing tied to SMM; Mali reserves...
MOPO secures $6.7M from Norfund for solar battery expansion Company records 28M rentals, active in six African countries Model offers...
The Tomb of Askia is one of the most important historical and cultural monuments in Mali, inscribed on the UNESCO World Heritage List since 2004. Located...
The Mount Nimba Nature Reserve, a true cross-border treasure, stretches across Guinea and Côte d’Ivoire, at the edge of Liberia. It is dominated by an...