NAIROBI, Kenya— Standard Chartered Bank and British International Investment (BII), the UK’s development finance institution, have rolled out a US$100 million (Sh13 billion) trade finance facility to enhance access to working capital for businesses in Kenya and Tanzania.
The initiative aims to unlock more than US$450 million (Sh58.5 billion) in trade flows during its lifetime, with a strong focus on empowering small and medium enterprises (SMEs) and local corporates in critical sectors such as agriculture, healthcare, manufacturing, infrastructure, and food production.
The facility, designed to ease trade bottlenecks, will help businesses import vital goods, settle payments promptly, and expand into international markets.
It also meets the 2X Challenge criteria, making it inclusive of businesses that are women-led or women-owned, and those that champion women’s leadership and access to quality employment and finance.
“This partnership reaffirms our commitment to driving growth and resilience across East Africa,” said Kariuki Ngari, Standard Chartered CEO for Kenya and Africa.
The agreement builds on a long-standing collaboration between the two institutions. In November 2024, they announced a US$350 million (Sh45.5 billion) risk-sharing arrangement, having first partnered in 2013.
Their joint efforts are focused on bridging financing gaps for businesses across Africa and South Asia.
BII’s Kenya Country Director Seema Dhanani underscored the importance of improving access to trade finance for underserved enterprises.
“Women-led businesses and SMEs across East Africa continue to face barriers to capital,” she said. “This facility will support more businesses to grow, generate employment, and strengthen regional trade.”
The initiative is expected to play a vital role in reinforcing value chains and spurring inclusive economic development across the region.
