Stanbic Bank to raise Sh13bn for startups in financing expansion bid

Stanbic Bank is looking to raise Sh12.9 billion over the 12 months to expand its financing of region’s growing start-ups which it says are grappling with gross underfunding due to the conventional design of mainstream banking.

Through the bank’s vehicle for extending patient capital, the Catalytic Fund, Stanbic looks to deploy the proceeds of the fundraising to businesses spread across agribusiness, manufacturing, creative arts, education and healthcare.