NAIROBI, KENYA, 05 OCTOBER 2026 – The African Development Bank and Family Bank Limited have signed a $10 million trade finance line of credit to boost trade finance activities in Kenya.
The facility will enable the African Development Bank to provide the much-needed Foreign Currency (FX) to contribute to mobilizing significant financial resources for SMEs as well as local corporates in the manufacturing and agriculture sectors, health and renewable energy as well as Women Owned Businesses, which will facilitate deepening of value chains and diversification of productive capacity in Kenya and ultimately contribute to stimulating economic growth.
Speaking soon after signing, the Bank's Director General for the East Africa region Mr. Alex Mubiru stressed that the signing reaffirms the African Development Bank's commitment to empowering local businesses and strengthening Kenya's financial ecosystem. By addressing critical trade finance gaps in agriculture, manufacturing, energy, and general commerce, the partnership will expand access to financing that supports the country's growing import needs.
Following the signing, the African Development Bank’s Head of Trade Finance, Mr Lamin Drammeh, said: "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."
This facility will help meet the import trade finance needs of small and medium-sized enterprises and local corporates in Kenya. Importantly, it will also support intra-African trade and contribute directly to the successful implementation of the African Continental Free Trade Area, or AfCFTA, agenda.
"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 Family Bank Chief Executive Officer Nancy Njau.
