* . * . . .
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Cookie Privacy Policy
  • DMCA
  • California Consumer Privacy Act (CCPA)
Friday, May 9, 2025
Love Europe
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Sports
  • Travel
No Result
View All Result
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Sports
  • Travel
No Result
View All Result
Love Europe
No Result
View All Result
Home Liechtenstein

EIB and KCB Partner to Boost Kenyan SMEs, Empower Women and Youth with €230M Investment

October 18, 2024
in Liechtenstein
EIB and KCB Partner to Boost Kenyan SMEs, Empower Women and Youth with €230M Investment
Share on FacebookShare on Twitter
ADVERTISEMENT

EIB and KCB Partner to Boost Kenyan SMEs, Empower Women and Youth with €230M Investment

(IN BRIEF) The European Investment Bank (EIB Global) and KCB Bank Kenya have formed a €230 million (KShs. 32 billion) partnership to support small and medium enterprises (SMEs), with a focus on women and youth-led businesses in Kenya. The investment, part of the “Investing in Young Businesses in Africa” (IYBA) initiative, is split equally between EIB and KCB. The funding will help provide capital to SMEs, particularly in the agriculture sector, and enhance opportunities for women entrepreneurs and young business leaders. The Bill & Melinda Gates Foundation will offer technical assistance, ensuring greater access to finance for women. This collaboration also aims to promote gender equality and job creation through sustainable business practices.

(PRESS RELEASE) LUXEMBOURG, 18-Oct-2024 — /EuropaWire/ — In a significant move to boost small businesses, women entrepreneurs, and youth-led enterprises in Kenya, the European Investment Bank (EIB Global) and KCB Bank Kenya have announced a landmark partnership worth €230 million (KShs. 32 billion). This partnership, the largest EIB Global has ever made in Kenya, aims to provide crucial financing for local small and medium-sized enterprises (SMEs), with a focus on promoting inclusive growth and empowering disadvantaged groups.

The financial package consists of a €115 million credit line from EIB Global, which will be matched by KCB Bank’s own contribution of €115 million. Together, the funds will be allocated to key areas that support the “Investing in Young Businesses in Africa” (IYBA) initiative, a programme designed to foster sustainable business growth across the continent.

As part of the initiative, €30 million (KShs. 4.1 billion) will be specifically dedicated to women-owned or led microenterprises, providing much-needed capital to a segment of the population that often struggles to access traditional financing. An additional €100 million (KShs. 14 billion) will be directed towards working capital and investments for SMEs, particularly those owned or managed by women, aligning with the 2X Challenge criteria.

The remaining €100 million (KShs. 14 billion) will focus on driving youth employment and fostering the growth of businesses led by young entrepreneurs. This financing will also prioritize sectors that employ significant numbers of young people, such as agriculture, where one-third of the funds will be directed towards supporting the sector’s value chain.

The initiative is further supported by the Bill & Melinda Gates Foundation, which will provide technical assistance to ensure that more women can access finance by addressing barriers such as a lack of collateral or credit history. By leveraging digital technology and risk-sharing mechanisms, the project aims to reduce loan costs for women entrepreneurs.

EIB Vice President Thomas Östros highlighted the critical role of SMEs in Kenya’s economy, stating: “Micro, small, and medium-sized enterprises are the backbone of Kenya’s economy, but they are particularly vulnerable to financial crises. This partnership will help address the financing gaps faced by SMEs and empower women and youth, ultimately promoting gender equality and sustainable job creation.”

The collaboration between EIB Global and KCB is part of the broader Team Europe Initiative “Investing in Young Businesses in Africa,” which not only provides capital to startups and early-stage businesses but also offers technical support and capacity building. This holistic approach ensures that businesses are sustainable and capable of generating long-term employment.

Paul Russo, CEO of KCB Group, emphasized the importance of the partnership in strengthening Kenya’s SME sector: “We are committed to overcoming the challenges that hinder the growth of SMEs. Through this partnership, we will provide tailored financial solutions, mentorship, and capacity-building programmes to ensure that these businesses can thrive in today’s competitive market.”

The European Union Ambassador to Kenya, Henriette Geiger, echoed these sentiments, underscoring the EU’s dedication to supporting early-stage businesses. She highlighted that the EU’s Investing in Young Businesses in Africa initiative has already mobilized €400 million in Kenya alone to support projects aimed at fostering business growth and job creation.

In addition to favourable financial terms such as extended loan tenures, EIB Global will also offer technical assistance for capacity building to KCB and its beneficiaries. This added support will enhance the impact of the funding, ensuring that it creates long-term value for all stakeholders involved.

With this latest partnership, KCB Bank continues to champion initiatives aimed at empowering women entrepreneurs, including its Female-Led and Made Enterprises (FLME) programme, which commits KShs. 50 billion annually to support women in business. This collaboration with EIB Global is expected to further boost these efforts, providing a solid foundation for economic growth and development in Kenya.

Background information

About EIB Global

EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner in Global Gateway. We aim to support €100 billion of investment by the end of 2027, around one third of the overall target of this EU initiative. With Team Europe, EIB Global fosters strong, focused partnerships, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices around the world.

About KCB Bank Kenya

KCB Bank Kenya Limited is the largest commercial bank in the country.  A subsidiary of KCB Group Plc, the Bank has the largest branch network, with over 260 branches, 367 ATMs and 16,000 agents offering banking services on a 24/7 basis in East Africa. This is complemented by mobile banking and internet banking services with a 24-hour contact center services for our customers to get in touch with the Bank. KCB Group Plc- which also has presence in Uganda, Tanzania, South Sudan, Burundi, Rwanda DRC Congo and Representative offices in Ethiopia and Brussels also boasts of a wide network of correspondent relationships totaling over 200 banks across the globe and our customers are assured of a seamless facilitation of their international trade requirements wherever they are.

Media Contact:

Harriet Kwamboka
[email protected]
+ 254 114106871

Press Office

[email protected]
+352 43791

SOURCE: European Investment Bank

MORE ON EUROPEAN INVESTMENT BANK, EIB, ETC.:

Follow EuropaWire on Google News

EDITOR’S PICK:
Alegerile din Moldova din 2024: O Bătălie pentru Democrație Împotriva Dezinformării

Northcrest Developments launches design competition to reimagine 2-km former airport Runway into a vibrant pedestrianized corridor, shaping a new era of placemaking on an international scale

The Road to Sustainable Electric Motors for EVs: IDTechEx Analyzes Key Factors

Infrared Technology Breakthroughs Paving the Way for a US$500 Million Market, Says IDTechEx Report

MegaFair Revolutionizes the iGaming Industry with Skill-Based Games

European Commission Evaluates Poland’s Media Adherence to the Right to be Forgotten

Global Race for Autonomous Trucks: Europe a Critical Region Transport Transformation

Digi Communications N.V. confirms the full redemption of €450,000,000 Senior Secured Notes

AT&T Obtiene Sentencia Contra Grupo Salinas Telecom, Propiedad de Ricardo Salinas, Sus Abogados se Retiran Mientras Él Mueve Activos Fuera de EE.UU. para Evitar Pagar la Sentencia

Global Outlook for the Challenging Autonomous Bus and Roboshuttle Markets

Evolving Brain-Computer Interface Market More Than Just Elon Musk’s Neuralink, Reports IDTechEx

Latin Trails Wraps Up a Successful 3rd Quarter with Prestigious LATA Sustainability Award and Expands Conservation Initiatives ↗️

Astor Asset Management 3 Ltd leitet Untersuchung für potenzielle Sammelklage gegen Ricardo Benjamín Salinas Pliego von Grupo ELEKTRA wegen Marktmanipulation und Wertpapierbetrug ein

Digi Communications N.V. announces that the Company’s Romanian subsidiary exercised its right to redeem the Senior Secured Notes due in 2025 in principal amount of €450,000,000

Astor Asset Management 3 Ltd Inicia Investigación de Demanda Colectiva Contra Ricardo Benjamín Salinas Pliego de Grupo ELEKTRA por Manipulación de Acciones y Fraude en Valores

Astor Asset Management 3 Ltd Initiating Class Action Lawsuit Inquiry Against Ricardo Benjamín Salinas Pliego of Grupo ELEKTRA for Stock Manipulation & Securities Fraud

Digi Communications N.V. announced that its Spanish subsidiary, Digi Spain Telecom S.L.U., has completed the first stage of selling a Fibre-to-the-Home (FTTH) network in 12 Spanish provinces

Natural Cotton Color lancia la collezione “Calunga” a Milano

Astor Asset Management 3 Ltd: Salinas Pliego Incumple Préstamo de $110 Millones USD y Viola Regulaciones Mexicanas

Astor Asset Management 3 Ltd: Salinas Pliego Verstößt gegen Darlehensvertrag über 110 Mio. USD und Mexikanische Wertpapiergesetze

ChargeEuropa zamyka rundę finansowania, której przewodził fundusz Shift4Good tym samym dokonując historycznej francuskiej inwestycji w polski sektor elektromobilności

Strengthening EU Protections: Robert Szustkowski calls for safeguarding EU citizens’ rights to dignity

Digi Communications NV announces the release of H1 2024 Financial Results

Digi Communications N.V. announces that conditional stock options were granted to a director of the Company’s Romanian Subsidiary

Digi Communications N.V. announces Investors Call for the presentation of the H1 2024 Financial Results

Digi Communications N.V. announces the conclusion of a share purchase agreement by its subsidiary in Portugal

Digi Communications N.V. Announces Rating Assigned by Fitch Ratings to Digi Communications N.V.

Digi Communications N.V. announces significant agreements concluded by the Company’s subsidiaries in Spain

SGW Global Appoints Telcomdis as the Official European Distributor for Motorola Nursery and Motorola Sound Products

Digi Communications N.V. announces the availability of the instruction regarding the payment of share dividend for the 2023 financial year

Digi Communications N.V. announces the exercise of conditional share options by the executive directors of the Company, for the year 2023, as approved by the Company’s Ordinary General Shareholders’ Meetings from 18th May 2021 and 28th December 2022

Digi Communications N.V. announces the granting of conditional stock options to Executive Directors of the Company based on the general shareholders’ meeting approval from 25 June 2024

Digi Communications N.V. announces the OGMS resolutions and the availability of the approved 2023 Annual Report

Czech Composer Tatiana Mikova Presents Her String Quartet ‘In Modo Lidico’ at Carnegie Hall

SWIFTT: A Copernicus-based forest management tool to map, mitigate, and prevent the main threats to EU forests

WickedBet Unveils Exciting Euro 2024 Promotion with Boosted Odds

Museum of Unrest: a new space for activism, art and design

Digi Communications N.V. announces the conclusion of a Senior Facility Agreement by companies within Digi Group

Digi Communications N.V. announces the agreements concluded by Digi Romania (formerly named RCS & RDS S.A.), the Romanian subsidiary of the Company

Green Light for Henri Hotel, Restaurants and Shops in the “Alter Fischereihafen” (Old Fishing Port) in Cuxhaven, opening Summer 2026

Digi Communications N.V. reports consolidated revenues and other income of EUR 447 million, adjusted EBITDA (excluding IFRS 16) of EUR 140 million for Q1 2024

Digi Communications announces the conclusion of Facilities Agreements by companies from Digi Group

Digi Communications N.V. Announces the convocation of the Company’s general shareholders meeting for 25 June 2024 for the approval of, among others, the 2023 Annual Report

Digi Communications NV announces Investors Call for the presentation of the Q1 2024 Financial Results

Digi Communications intends to propose to shareholders the distribution of dividends for the fiscal year 2023 at the upcoming General Meeting of Shareholders, which shall take place in June 2024

Digi Communications N.V. announces the availability of the Romanian version of the 2023 Annual Report

Digi Communications N.V. announces the availability of the 2023 Annual Report

International Airlines Group adopts Airline Economics by Skailark ↗️

BevZero Spain Enhances Sustainability Efforts with Installation of Solar Panels at Production Facility

Digi Communications N.V. announces share transaction made by an Executive Director of the Company with class B shares

BevZero South Africa Achieves FSSC 22000 Food Safety Certification

Digi Communications N.V.: Digi Spain Enters Agreement to Sell FTTH Network to International Investors for Up to EUR 750 Million

Patients as Partners® Europe Announces the Launch of 8th Annual Meeting with 2024 Keynotes and Topics

driveMybox continues its international expansion: Hungary as a new strategic location

Monesave introduces Socialised budgeting: Meet the app quietly revolutionising how users budget

Digi Communications NV announces the release of the 2023 Preliminary Financial Results

Digi Communications NV announces Investors Call for the presentation of the 2023 Preliminary Financial Results

Lensa, един от най-ценените търговци на оптика в Румъния, пристига в България. Първият шоурум е открит в София

Criando o futuro: desenvolvimento da AENO no mercado de consumo em Portugal

Digi Communications N.V. Announces the release of the Financial Calendar for 2024

Customer Data Platform Industry Attracts New Participants: CDP Institute Report

eCarsTrade annonce Dirk Van Roost au poste de Directeur Administratif et Financier: une décision stratégique pour la croissance à venir

BevZero Announces Strategic Partnership with TOMSA Desil to Distribute equipment for sustainability in the wine industry, as well as the development of Next-Gen Dealcoholization technology

Digi Communications N.V. announces share transaction made by a Non-Executive Director of the Company with class B shares

Digi Spain Telecom, the subsidiary of Digi Communications NV in Spain, has concluded a spectrum transfer agreement for the purchase of spectrum licenses

Эксперт по торговле акциями Сергей Левин запускает онлайн-мастер-класс по торговле сырьевыми товарами и хеджированию

Digi Communications N.V. announces the conclusion by Company’s Portuguese subsidiary of a framework agreement for spectrum usage rights

North Texas Couple Completes Dream Purchase of Ouray’s Iconic Beaumont Hotel

Предприниматель и филантроп Михаил Пелег подчеркнул важность саммита ООН по Целям устойчивого развития 2023 года в Нью-Йорке

Digi Communications NV announces the release of the Q3 2023 Financial Results

IQ Biozoom Innovates Non-Invasive Self-Testing, Empowering People to Self-Monitor with Laboratory Precision at Home

BevZero Introduces Energy Saving Tank Insulation System to Europe under name “BevClad”

Motorvision Group reduces localization costs using AI dubbing thanks to partnering with Dubformer

Digi Communications NV Announces Investors Call for the Q3 2023 Financial Results

Jifiti Granted Electronic Money Institution (EMI) License in Europe

Предприниматель Михаил Пелег выступил в защиту образования и грамотности на мероприятии ЮНЕСКО, посвящённом Международному дню грамотности

VRG Components Welcomes New Austrian Independent Agent

Digi Communications N.V. announces that Digi Spain Telecom S.L.U., its subsidiary in Spain, and abrdn plc have completed the first investment within the transaction having as subject matter the financing of the roll out of a Fibre-to-the-Home (“FTTH”) network in Andalusia, Spain

Продюсер Михаил Пелег, как сообщается, работает над новым сериалом с участием крупной голливудской актрисы

Double digit growth in global hospitality industry for Q4 2023

ITC Deploys Traffic Management Solution in Peachtree Corners, Launches into United States Market

Cyviz onthult nieuwe TEMPEST dynamische controlekamer in Benelux, Nederland

EU-Funded CommuniCity Launches its Second Open Call

Astrologia pode dar pistas sobre a separação de Sophie Turner e Joe Jonas

La astrología puede señalar las razones de la separación de Sophie Turner y Joe Jonas

Empowering Europe against infectious diseases: innovative framework to tackle climate-driven health risks

Montachem International Enters Compostable Materials Market with Seaweed Resins Company Loliware

Digi Communications N.V. announces that its Belgian affiliated companies are moving ahead with their operations

Digi Communications N.V. announces the exercise of conditional share options by an executive director of the Company, for the year 2022, as approved by the Company’s Ordinary General Shareholders’ Meeting from 18 May 2021

Digi Communications N.V. announces the availability of the instruction regarding the payment of share dividend for the 2022 financial year

Digi Communications N.V. announces the availability of the 2022 Annual Report

Digi Communications N.V. announces the general shareholders’ meeting resolutions from 18 August 2023 approving amongst others, the 2022 Annual Accounts

Русские эмигранты усиливают призывы «Я хочу, чтобы вы жили» через искусство

BevZero Introduces State-of-the-Art Mobile Flash Pasteurization Unit to Enhance Non-Alcoholic Beverage Stability at South Africa Facility

Russian Emigrés Amplify Pleas of “I Want You to Live” through Art

Digi Communications NV announces the release of H1 2023 Financial Results

Digi Communications NV Announces Investors Call for the H1 2023 Financial Results

Digi Communications N.V. announces the convocation of the Company’s general shareholders meeting for 18 August 2023 for the approval of, among others, the 2022 Annual Report

“Art Is Our Weapon”: Artists in Exile Deploy Their Talents in Support of Peace, Justice for Ukraine

Digi Communications N.V. announces the availability of the 2022 Annual Financial Report

“AmsEindShuttle” nuevo servicio de transporte que conecta el aeropuerto de Eindhoven y Ámsterdam

Un nuovo servizio navetta “AmsEindShuttle” collega l’aeroporto di Eindhoven ad Amsterdam

Digi Communications N.V. announces the conclusion of an amendment agreement to the Facility Agreement dated 26 July 2021, by the Company’s Spanish subsidiary

Digi Communications N.V. announces an amendment of the Company’s 2023 financial calendar

iGulu F1: Brewing Evolution Unleashed

Почему интерактивная «Карта мира» собрала ключевые антивоенные сообщества россиян по всему миру и становится для них важнейшим инструментом

Hajj Minister meets EU ambassadors to Saudi Arabia

Online Organizing Platform “Map of Peace” Emerges as Key Tool for Diaspora Activists

Digi Communications N.V. announces that conditional stock options were granted to executive directors of the Company based on the general shareholders’ meeting approval from 18 May 2021

Digi Communications N.V. announces the release of the Q1 2023 financial results

AMBROSIA – A MULTIPLEXED PLASMO-PHOTONIC BIOSENSING PLATFORM FOR RAPID AND INTELLIGENT SEPSIS DIAGNOSIS AT THE POINT-OF-CARE

Digi Communications NV announces Investors Call for the Q1 2023 Financial Results presentation

Digi Communications N.V. announces the amendment of the Company’s 2023 financial calendar

Digi Communications N.V. announces the conclusion of two Facilities Agreements by the Company’s Romanian subsidiary

Digi Communications N.V. announces the conclusion of a Senior Facility Agreement by the Company’s Romanian subsidiary

Patients as Partners Europe Returns to London and Announces Agenda Highlights

GRETE PROJECT RESULTS PRESENTED TO TEXTILE INDUSTRY STAKEHOLDERS AT INTERNATIONAL CELLULOSE FIBRES CONFERENCE

Digi Communications N.V. announces Digi Spain Telecom S.L.U., its subsidiary in Spain, entered into an investment agreement with abrdn to finance the roll out of a Fibre-to-the-Home (FTTH) network in Andalusia, Spain

XSpline SPA / University of Linz (Austria): the first patient has been enrolled in the international multicenter clinical study for the Cardiac Resynchronization Therapy DeliveRy guided by non-Invasive electrical and VEnous anatomy assessment (CRT-DRIVE)

Franklin Junction Expands Host Kitchen® Network To Europe with Digital Food Hall Pioneer Casper

Unihertz a dévoilé un nouveau smartphone distinctif, Luna, au MWC 2023 de Barcelone

Unihertz Brachte ein Neues, Markantes Smartphone, Luna, auf dem MWC 2023 in Barcelona

Editor’s pick archive….

Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=67123f57ad6c4765b88dda17d4f8c726&url=https%3A%2F%2Fnews.europawire.eu%2Feib-and-kcb-partner-to-boost-kenyan-smes-empower-women-and-youth-with-e230m-investment%2Feu-press-release%2F2024%2F10%2F18%2F12%2F47%2F50%2F142449%2F&c=12160247522123851168&mkt=de-de

Author :

Publish date : 2024-10-18 03:50:00

Copyright for syndicated content belongs to the linked Source.

Tags: Europeiechtenstein
ADVERTISEMENT
Previous Post

Moldova and Georgia Face a 1947 Moment as Westward-Looking Republics Try To Keep Out of Moscow’s Clutches

Next Post

Only 1.5% of Romanian companies used AI in 2023, below the EU average of 8%

Related Posts

Liechtenstein

Deal with Liechtenstein – EY – EUROP INFO

Liechtenstein

ISC’s Expertise Options Phase Wins Liechtenstein Contract to Ship a Digital Industrial Registry System – GlobeNewswire – EUROP INFO

Liechtenstein

Liechtenstein indicators the Council of Europe’s AI treaty – Synthetic Intelligence – coe.int – EUROP INFO

ADVERTISEMENT

Highlights

Bilal Zahid Takes the Helm as the New UK Ambassador to Slovakia! – EUROP INFO

Luka Doncic Ready to Lead Slovenia’s EuroBasket 2025 Charge After Lakers’ Playoff Disappointment! – EUROP INFO

Unmissable Flamenco Shows in Spain for 2025! – EUROP INFO

Strengthening NATO Bonds with a Strategic Visit to Türkiye! – EUROP INFO

Implications for the Market Ahead! – EUROP INFO

Categories

Archives

October 2024
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Sep   Nov »
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Cookie Privacy Policy
  • DMCA
  • California Consumer Privacy Act (CCPA)
No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2024 Love-Europe

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version