Ecobank Kenya has raised Ksh 3.5 billion to strengthen its financial capabilities and expand its services across East Africa. This capital boost is part of the bank’s strategy to meet the Ksh 10 billion capital requirement by 2029, helping it support more businesses in the region.
Ecobank Group CEO Jeremy Awori highlighted that the additional capital would enhance regional trade and improve financial inclusion. He stated, "Kenya is a strategic market for the Ecobank Group and a key economic hub driving growth across East Africa." The capital boost will allow Ecobank Kenya to seize new business opportunities and deliver long-term value for stakeholders as part of its Growth, Transformation, and Returns (GTR) strategy.
The increased capital will be directed towards financing key economic sectors, including small and medium enterprises (SMEs), financial technology (FinTech) companies, and women-led businesses. Key industries set to benefit from this investment include agriculture, manufacturing, ICT and innovation, payments and remittances, and tourism and hospitality.
Josephine Anan-Ankomah, Managing Director of Ecobank Kenya, emphasized the bank’s commitment to being the financial partner of choice for businesses in the region. "This capital reinforcement strengthens our ability to serve SMEs, FinTechs, women-led businesses, and international organizations, while cementing our leadership in regional trade and payments across Central, Eastern, and Southern Africa," she said.
In addition to traditional sectors, Ecobank Kenya is focusing on emerging industries such as green energy, transport and logistics, healthcare, and retail trade. These industries are crucial for sustainable development in Kenya and the wider East African region.
With this capital injection, Ecobank Kenya aims to play a key role in fostering economic growth, promoting regional trade, and enhancing financial inclusion. The move is aligned with the bank’s broader goal of growth and transformation, ensuring its continued leadership in East Africa’s evolving financial landscape.
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