Family Bank secures $10m AfDB facility to widen trade finance for Kenyan businesses
The African Development Bank (AfDB) and Family Bank Limited have signed a $10 million trade finance facility aimed at expanding access to foreign currency and financing for businesses involved in trade and productive sectors in Kenya.
The facility will support the import financing needs of small and medium-sized enterprises (SMEs) and local corporates, particularly those operating in manufacturing, agriculture, healthcare, renewable energy and other areas of general commerce.
The funding is also expected to increase access to foreign currency for businesses, helping them meet import requirements while supporting local and regional supply chains.
Speaking after the signing, AfDB Director General for the East Africa region Alex Mubiru said the agreement demonstrates the bank’s commitment to strengthening Kenya’s financial ecosystem and expanding access to trade finance.
By addressing financing gaps across key sectors, the facility is expected to support businesses seeking to import goods and inputs while contributing to the expansion of productive capacity in the Kenyan economy.
AfDB Head of Trade Finance Lamin Drammeh said the facility would help ease financing pressures facing Kenyan importers and exporters while supporting wider efforts to address Africa’s trade finance shortfall.
“Today’s signing is timely and significant, as it will ease the pressure on exporters, importers in Kenya, help unlock new opportunities for sustainable economic activity and ultimately reduce Africa’s trade finance gap, currently estimated at more than US$74 billion,” said Drammeh.
Facility to support intra-African trade
The facility will also support intra-African trade, with the two institutions positioning the financing as a contribution to the implementation of the African Continental Free Trade Area (AfCFTA).
Access to trade finance remains important for businesses seeking to participate in cross-border markets, particularly where companies require foreign currency to purchase equipment, raw materials, machinery and other inputs.
For Kenyan businesses, the facility is expected to provide Family Bank with additional capacity to support these financing requirements across productive sectors.
Family Bank targets MSME financing
For Family Bank, the agreement is expected to strengthen its ability to extend financing to micro, small and medium-sized enterprises (MSMEs), including women-owned and women-led businesses.
“As we execute our 2025–2029 strategy, we remain focused on expanding access to tailored financing for businesses, including women-owned and women-led MSMEs. This facility strengthens our capacity to scale up lending to MSMEs, which form over 80% of our customer base, while addressing financing gaps that continue to constrain business growth. As a Bank, we are committed to ensuring that this financing translates into tangible opportunities for businesses and contributes meaningfully to inclusive economic growth,” said Nancy Njau, Family Bank Chief Executive Officer.
The partnership comes as Kenyan businesses continue to require access to trade finance and foreign currency to support imports, production and participation in regional markets.
The $10 million facility will therefore provide Family Bank with additional resources to finance eligible businesses and their trade-related requirements, while supporting economic activity across sectors including manufacturing, agriculture, healthcare and renewable energy.
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