IFC bets big on Kenyan banks

The International Finance Corporation (IFC) is channelling billions of shillings into Kenyan small businesses and women-owned enterprises through strategic loan partnerships with banks, plugging a gap in the local credit market that remains wary of risky SMEs.

The international financier’s exposure to local tier-one lenders through debt and equity totalled Sh105.8 billion at the end of 2021, comprising mainly of medium-term credit facilities that are also backed by fellow development finance institutions.