NAIROBI, Kenya, Sept 18 – Investors operating under the Vipingo Special Economic Zone (SEZ) in Kilifi are set to access up to Sh64.6 billion in funding through a new financing framework.
KCB Group and the African Export-Import Bank (Afreximbank), a pan-African multilateral development bank, have signed a Memorandum of Understanding that will also support trade facilitation.
The financing will target enterprises in manufacturing, agro-processing, logistics, and value addition operating within the SEZ.
“This agreement marks a significant step in our mission to catalyse sustainable industrial growth in Kenya and across the region,” KCB Group CEO Paul Russo said.
“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.
“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,” said Afreximbank’s Managing Director for Export Development, Oluranti Doherty.
“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.”
