In brief
Co-operative Bank of Kenya Ltd was founded in 1965 as a bank for the cooperative movement in Kenya. While having a strong cooperative identity and being the principal banker for the cooperative movement in Kenya, the Bank has evolved into a universal, third-largest bank in Kenya. A significant portion of Co-op Bank´s clientele is individuals and MSMEs. The loan proceeds will be used to support the MSME loan portfolio growth, which will facilitate financial inclusion among underserved clientele.
Main development impact
There are an estimated 7.4 million MSMEs in Kenya. The financing needs of this underserved segment are vast. Co-operative Bank is the dominant provider of financial services to the cooperative movement in Kenya, which plays an instrumental role as an intermediary and aggregator in agribusiness. Providing value-added services to the cooperative movement, including agribusiness operators, is a key driver of financial inclusion.Investment details
| Name: | Co-operative Bank of Kenya Ltd. |
|---|---|
| Project number: | 80000381 |
| Region: | Africa |
| Country: | Kenya |
| Sector: | Financial institution |
| Signing date (month/year): | December 2022 |
| Currency: | USD |
| Finnfund's financing (commitment): | 12,000,000 |
| Instrument: | Loan |
| Size of the project financing: | USD 100,000,000 |
| Share of Finnfund's financing (%): | 13,10 % |
| Status: | Active |
Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year.
