NAIROBI, Kenya, Nov 6 – Family Bank has obtained a Sh1.29 billion credit facility from the BlueOrchard Microfinance Fund to scale up lending to micro, small, and medium-sized enterprises (MSMEs) across the country.
The financing is expected to expand the bank’s SME loan book.
“As a bank, our core focus is supporting customers in the retail and SME sectors, who make up over 80 percent of our base. This facility allows us to extend more affordable credit to MSMEs,” said Family Bank CEO Nancy Njau.
SMEs contribute about 40 percent of Kenya’s GDP and employ 80 percent of the workforce, but many continue to face limited access to affordable financing.
“We are delighted to partner again with Family Bank to deliver impact that supports communities and future generations,” said BlueOrchard CEO Michael Wehrle.
In 2021, Family Bank received $17 million from BlueOrchard-managed funds to support SME and education sector lending, funding that was fully utilized and repaid.
The latest facility comes as banks increasingly seek offshore funding to sustain SME lending amid tight domestic liquidity conditions.
