Ecobank Kenya has raised its capital base to Ksh 8.5 billion after injecting Ksh 3.5 billion in fresh capital which is expected to support its regional expansion.
The lender says the capital increase now sets it up to meet the the Ksh 10 billion capital requirements by 2029 as it eyes support more businesses in the East African region.
Ecobank Group Chief Executive Officer Jeremy Awori the new capital will further facilitate regional trade, and promote financial inclusion.
“Kenya is a strategic market for the Ecobank Group and a key economic hub driving growth across East Africa. This capital reinforcement supports Ecobank Kenya’s ability to seize new business opportunities and deliver long-term value for stakeholders—all in alignment with our Growth, Transformation, and Returns (GTR) strategy,” said Awori.
Among sector targeted for additional financing include small and medium enterprises, financial technology companies and women-led enterprises in high impact sectors such as such as agriculture, manufacturing, ICT & innovation, payments & remittances, and tourism and hospitality.
“This capital reinforcement strengthens our ability to serve as the financial partner of choice for international organizations, regional businesses, SMEs, FinTech’s, and women-led enterprises, while further cementing our leadership in regional trade and payments across Central, Eastern, and Southern Africa,” added Josephine Anan-Ankomah, Managing Director of Ecobank Kenya and Regional Executive for Central, Eastern, and Southern Africa (CESA).
Ecobank Kenya says it aims to empower emerging industries like green energy, transport and logistics, healthcare, and retail and trade, focusing on sustainable development in Kenya and East Africa.
