At Credit Bank, we strive to transform the social-economic welfare of our people through innovative financial solutions. It is on this basis that we steer our operations and develop long term relationships that benefit our clientele.
Yesterday, 28th August 2019, we signed a KES 1 Billion equity investment with the Netherlands based social impact investor, Oikocredit Ecumenical Development Cooperative Society U.A. (Oikocredit). The investment, which is subject to Central Bank of Kenya approval, will see Oikocredit take a minority stake in the Bank.
Such a significant investment comes on the back of a formidable strategy deployed to propel the Bank to greater heights. This strategy banks on small and medium sized enterprises (SMEs) that form a significant part of Kenya’s economy. The sector contributes 3% of the country’s GDP and employing well over 30% of Kenya’s labour force. SMEs, however, face financial and structural challenges that have long rendered them unable to access formal credit.