KCB Bank Kenya has received approval for a $96.9M (KShs. 12.5B) financing from the Green Climate Fund (GCF) to accelerate green projects for Micro, Small and Medium Enterprises (MSMEs) and farmers in Kenya.
The blended finance initiative—a mix of concessional lending, a guarantee, and a grant—under the Climate Smart Technology (CST) programme, is meant to support Kenya’s most vulnerable communities.
This facility will be deployed towards supporting value-chain and gender-inclusive interventions through the adoption of solar-powered and clean cooking technologies, climate-smart agriculture, waste management and circular economy as well as energy efficiency improvements. The initiative will enable them to build resilience, improve productivity, and transition to low-carbon practices.
Approximately 60% of investments will focus on adaptation, particularly climate-resilient agriculture and water management technologies, while 40% will target mitigation technologies such as renewable energy and energy efficiency.
Through this facility, KCB Bank Kenya will deploy financing solutions, including flexible credit products, mixed finance structures, and digital lending platforms, to reach underserved populations at scale.
KCB Group CEO, Paul Russo said; “This is a bold step to scale climate finance climate finance. By targeting MSMEs and smallholder farmers we are ensuring that no one is left behind in the transition to a climate-resilient future. Our goal is to empower these communities with the tools, technologies, and financing they need to thrive in the face of climate change threats,”
The program aligns seamlessly with Kenya’s National Climate Change Action Plan (NCCAP) III 2023 and the updated Nationally Determined Contribution (NDC).
Catherine Koffman, Director of the Green Climate Fund’s Department of the Africa Region said: “The climate-smart technologies for micro, small and medium-sized enterprises and farmers project addresses one of the toughest barriers to climate action: access to finance for small businesses and farmers. By crowding in private capital and derisking climate-smart investments, GCF finance will empower Kenya’s MSMEs and farmers to adopt solutions that strengthen resilience, productivity and long-term economic stability. The investment reflects GCF’s ability to unlock private investment to deliver capital at scale and the Fund’s commitment to be Kenya’s climate partner of choice.”
The approval comes at a time when Kenya continues to face acute vulnerability to climate change, with over 80% of its landmass categorized as arid and semi-arid lands (ASALs). These regions experience frequent climate hazards, including prolonged droughts and extreme flooding, leading to significant economic losses - estimated at 3% of the country's GDP annually.
With approximately 46% of Kenyans living below the poverty line, and agriculture contributing 26% to GDP while employing 70% of the rural workforce, climate disruptions severely impact livelihoods, food security, and economic stability. On the other hand, reliance on rain-fed agriculture exacerbates exposure to erratic weather patterns. MSMEs, farmers, and rural communities struggle to access climate-smart technologies for food production, financing mechanisms, and adaptation strategies.
KCB Group continues to make significant strides in climate action, financial inclusion, and community development in line with its ambition to create long-term value for stakeholders while supporting East Africa’s transition to a green and inclusive economy.
Last year, KCB Group assessed loans valued at KShs. 578.3 billion for environmental and social risks last year, further deepening the Bank’s play in green financing. This brings the cumulative total assessed since 2020 to over KShs. 1 trillion under the Group’s Environmental and Social Due Diligence (ESDD) process. KCB also disbursed KShs. 50 billion in green loans, growing its green portfolio to 25.84% from 15% in 2023. The support was extended to green products designed to foster energy transition, including initiatives in the blue economy, e-mobility, and climate change adaptation.
KCB Foundation has today awarded 1,000 full scholarships to academically gifted and financially vulnerable students to join Kenya Senior Schools across the country next week.
The social investment arm of KCB Group PLC has committed KShs. 600 million for the 2026 cohort through to their secondary and university studies, reinforcing its commitment to inclusive education and talent development across the country.
The investment will go towards school fees, stipends, uniforms, talent development, and basic requirements for the learners from secondary school through to their university education.
Of the 2026 cohort, 120 of the slots were reserved for the niche groups, including teen mothers, persons living with disabilities, and learners affected by harmful cultural practices such as female genital mutilation.
KCB Foundation has also expanded its focus on holistic development by admitting 75 new student-athletes, bringing the total number supported from 2024 to 125. The cohort was officially flagged off in Nairobi, with the scholars expected to report to school in the coming week.
KCB Group Director, Marketing and Communications, Rosalind Gichuru, said: “At the core of our business as KCB Group is transforming lives and nurturing talent across the country. The holistic approach for the scholars’ programme ensures that we are changing the education landscape for better.”
As Kenya transitions to the Competency-Based Education curriculum, KCB Foundation has aligned its scholarship model to support creativity, critical thinking, and holistic growth, ensuring scholars are prepared for a dynamic economy.
“We are expanding the scholarship program to reach more deserving learners across the country,” noted KCB Foundation Director Mendi Njonjo.
Since expanding its scholarship programme to include tertiary education in 2021, the KCB Foundation has supported over 950 students across the country.
Overall, since its establishment in 2007, the Foundation has impacted more than 7,000 learners nationwide, underscoring its long-term commitment to inclusive education and talent development.
KCB Bank customers can now enjoy a refreshed banking experience after the rollout of the revamped mobile banking App that now delivers a faster, more secure, and user-friendly functionalities.
The enhanced platform provides an all-in-one bespoke digital banking outlook introducing breakthrough self-onboarding capabilities, allowing customers to register and begin banking instantly, anytime, anywhere. Powered by advanced artificial intelligence, data analytics and a mini-app ecosystem, the platform is built for scale, agility, and inclusivity, delivering a truly personalized and future-ready banking experience.
The app will deliver a seamless and personalized banking experience, further reinforcing the Bank’s position as a digital financial market leader in response to the ever-evolving customer needs.
KCB Bank Director, Digital Financial Services, Angela Mwirigi said, “This new app reflects our continued commitment to innovation and customer satisfaction. We have listened to our customers, understood their needs, and invested in a platform that brings banking closer to them in the safest and most convenient way possible. It is part of our promise to make banking better, simpler, and more accessible for everyone.”
This comes as the bank’s 2025 Q1 results indicated that the value of mobile loans disbursed grew by 28% to KShs. 116 billion, translating to over 309.1million transactions which showcases the growing customer confidence and reliability in the platform.
This digital milestone is anchored on the KCB Group Strategy 2024 - 2026, ‘Transforming Today Together’, which seeks to leverage cutting-edge technology to deliver tailor-made, market leading financial solutions that satisfy diverse customer segments.
The roll-out of the app aligns with the bank’s Brand Purpose “For People. For Better.” reaffirming its mission to empower customers by removing barriers to financial access and creating inclusive, technology-driven solutions.
The new KCB Mobile Banking App is available for download on both the Google Play Store, Apple App Store and HarmonyOS. Customers with the old app will be notified via official banking channels on how to migrate to the new App.
KCB Group PLC and pan-African multilateral development bank, African Export-Import Bank (Afreximbank) have entered a Memorandum of Understanding aimed at providing financial and trade facilitation support to investors operating in the Vipingo Special Economic Zone (SEZ) in Kilifi County.
Under the agreement, Afreximbank and KCB Group will provide initial funding amounting to US$ 500 million and US$ 300 million, respectively towards the initiative.
The announcement was made during the Arise Integrated Industrial Platforms (Arise IIP) - Kenya Investment Forum 2025 where business leaders converged to deliberate on how to position Kenya as a preferred investment destination.
Under the framework, prospective investors will benefit from competitive financing solutions to establish operations within the SEZ, with a focus on manufacturing, agro-processing, logistics, and value-addition enterprises.
By combining resources, expertise, and networks, KCB and Afreximbank will empower both local and international investors to enjoy tailored financing solutions, including working capital facilities, project finance, trade financing, project preparation facility, guarantees and advisory support among others.
Speaking during the signing ceremony on September 16, 2025, in Vipingo, KCB Group CEO, Paul Russo said, "This agreement marks a significant step in our mission to catalyse sustainable industrial growth in Kenya and across the region. We are delighted to elevate Vipingo SEZ as a gateway to transforming, creating and sustaining an environment in which export-oriented industries can thrive, by leveraging economies of scale, shared infrastructure and access to global markets.”
The Vipingo SEZ is one of Kenya’s flagship projects under the Special Economic Zones Authority (SEZA), envisioned as a catalyst for attracting investment and spurring regional development. By channeling affordable capital into the zone, the partnership between KCB and Afreximbank is expected to unlock critical infrastructure, strengthen export-oriented industries, and position Kilifi as a magnet for both domestic and foreign direct investment.
On her part, Afreximbank’s Managing Director, Export Development, Ms. Oluranti Doherty noted: "Afreximbank’s mandate is to promote and expand African trade, and this
partnership with KCB is a concrete demonstration of that commitment. Special Economic Zones are powerful engines for industrialization, export growth, and economic diversification. Through this financing framework, we will not only enable enterprises to scale but also support the creation of sustainable supply chains that uplift local communities and drive regional integration."
Mr. Russo signed on behalf of KCB Group, Ms. Doherty for Afreximbank and Mr. George Olaka, CEO Arise IIP-Kenya signed for his organisation. The ceremony was witnessed by among others Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank and Mr. Gagan Gupta, Founder and CEO of ARISE IIP.
The agreement underscores the role of strategic partnerships in bridging Africa’s financing gap while enabling the private sector to play a transformative role in sustainable development. The funding to Vipingo SEZ is under the Afreximbank’s US$ 3 Billion Country Programme to Kenya signed in May 2023 to support the development of various sectors of its economy, with a special focus on industrial development, namely the Naivasha Industrial Park, Dongo Kundu Industrial Park and now the Vipingo SEZ. Afreximbank disbursed US$ 40 million in funding to facilitate the development of the Vipingo Special Economic Zone (SEZ) with a further commitment of US$ 500 million to support individual investors setting up operations within the Zone.
KCB Group has won 5 major international awards, cementing the bank’s position as a trailblazer in the continent’s financial sector, driven by its commitment to inclusive banking, cross-border innovation, and purpose-led leadership.s
In the 2025 Euromoney Excellence Awards in London UK, the Group was named Africa’s Best Bank for Corporate Responsibility while KCB Bank Kenya was named Kenya’s Best Bank and Kenya’s Best Bank for Environmental, Social and Governance (ESG).
At the same time, KCB Group has been named 2025 African Bank of the Year at the 15th African Business Leadership Awards (ABLA) in London, UK while the Group CEO, Paul Russo was honored with a Special U.S. Congressional Commendation from the State of Georgia, recognizing his outstanding contribution to the banking sector in East Africa.
The awards are a testament to the bank’s commitment to creating shared value by putting in place sound business models and strategies to deliver long-term returns while at the same time driving positive change in society, said the Group CEO.
"The recognition affirms our dedication to creating shared value for all our stakeholders and reflects the tangible impact of our initiatives across the value chain. The gesture also showcases our market-leading position in driving innovation to roll-out customer-centric solutions supported by guided by its brand purpose For People. For Better,” said Mr. Russo.
Earlier in the year, KCB Group was also named in the Financial Times - “Africa’s Fastest Growing Companies 2025,” reinforcing its status as a top financial institution in Africa setting a benchmark for sustainable, inclusive, and trusted banking practices for the future.
These honors reflect the Group’s deliberate and sustained efforts to expand access to banking services for underserved populations, empower small businesses, and invest in digital solutions that bridge economic gaps. Through its inclusive finance agenda, KCB is not only transforming lives and communities but also reinforcing its commitment to shared prosperity.
We value your privacy. While using this website we would like to use cookies and similar technologies to collect data. Collecting this data helps us improve your experience on this site, analyze site usage and personalize message content .By clicking “Allow All”, you consent to the use of cookies. You can find out more in our cookie policy.
