AfDB, Family Bank sign Sh1.297b trade deal to support Kenyan businesses
Business
By
Noel Nabiswa
| Oct 06, 2026
The African Development Bank (AfDB) and Family Bank have signed a $10 million (Sh1.297 billion) trade finance facility aimed at expanding access to foreign currency and financing for Kenyan businesses.
The facility will support small and medium-sized enterprises and local corporations in key sectors including manufacturing, agriculture, healthcare, renewable energy and general commerce.
The financing is expected to help businesses meet their import needs, strengthen local value chains and expand productive capacity, while also supporting women-owned and women-led enterprises.
Speaking after the signing in Nairobi, AfDB's Director General for East Africa Alex Mubiru said the partnership demonstrates the bank's commitment to strengthen Kenya's financial ecosystem and supporting local businesses.
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AfDB head of trade finance Lamin Drammeh said the facility would ease pressure on Kenyan importers and exporters while opening opportunities for sustainable economic activity.
Drammeh said the financing would also contribute to addressing Africa's trade finance gap, estimated at more than $74 billion.
The facility is further expected to support intra-African trade and contribute to the implementation of the African Continental Free Trade Area, which seeks to increase trade among African countries.
Family Bank Chief Executive Officer Nancy Njau said the facility would strengthen the bank's ability to scale lending to micro, small and medium-sized enterprises, which account for more than 80 percent of its customer base.
Njau said the bank would prioritize financing that translates into opportunities for businesses while promoting inclusive economic growth.
The agreement comes as Kenyan businesses continue to face financing constraints, particularly in accessing foreign currency and trade finance needed to import goods, equipment and raw materials.
Family Bank reported total assets of 238.9 billion shillings and deposits of 180.2 billion shillings as of June 2026.