The African Development Bank Group and Family Bank Limited have signed a $10 million Trade Finance Line of Creditto expand Kenyan businesses’ access to foreign-currency financing.
The facility will enable Family Bank to provide trade financing to eligible small and medium-sized enterprises and local corporates in the manufacturing, agriculture, health and renewable energy sectors, as well as women-owned enterprises, according to a statement on Wednesday by AfDB.
The facility will help eligible businesses to finance imports, obtain productive inputs and participate more effectively in domestic, regional and international value chains.
The partnership will also help diversify Kenya’s productive capacity and support intra-African trade under the African Continental Free Trade Area.
During a signing ceremony held at AfDB’s East Africa regional office on 02 October, East Africa director-general, Alex Mubiru, described trade finance as a quiet engine of economic activity, stating, “A line of credit becomes meaningful only when it becomes a line of opportunity for a business. Through Family Bank’s local reach, we expect this facility to support enterprises that are producing, trading, creating jobs and strengthening Kenya’s value chains.”
Family Bank’s CEO Nancy Njau said the facility would advance its 2025-2029 strategy to expand access to tailored financing for business, 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,” Ms Njau explained.
According to the AfDB’s 2025 Trade Finance Report, the trade finance gap was estimated to be as much as $92 billion in 2024. SMEs are among the businesses most affected by the shortfall.