This archive report was first published on 3 September 2019.
On September 3, 2019, Credit Bank announced a significant milestone in its growth journey with the signing of a KSh1 billion equity investment with Oikocredit, a Dutch impact investor.
The investment, which is subject to approval, will enable Oikocredit to own a minority stake in Credit Bank, translating to approximately 23 percent of the bank's shares.
According to Pamela Mutembei, Head of Business Banking and Marketing at Credit Bank, the initiative will see SMEs experience a positive growth trajectory.
The additional funding will be used to grow Credit Bank's SME loan portfolio and further build on its trade finance solutions, which were launched in July with the Entrepreneurs Hub.
Notably, this is the second major funding injection for Credit Bank in recent times, following the approval of a debt finance facility by the Africa Development Bank in the previous year.
