Women-led businesses will be the biggest beneficiary of the Sh1 billion loan Victoria Commercial Bank (VCB) has secured from a US lender for on-lending to small and medium sized enterprises.
VCB on June 28 inked a loan deal with World Business Capital (WBC) in Nairobi, marking the first investment in Kenya’s banking industry by the US financier that focuses on small and midium-sized enterprises (SMEs) in Africa, Latin America, Asia and Europe. The Kenyan lender, which largely lends to niche corporate clients in manufacturing and wholesale/retail sectors, said it will reserve a significant portion of the Sh1 billion for businesses owned by women.
