The African Development Bank (AfDB) and Family Bank Limited signed a $10 million trade‑finance facility aimed at expanding access to foreign‑currency financing for Kenyan businesses involved in trade and productive sectors.

The agreement targets small and medium‑sized enterprises (SMEs) and local corporates, especially those operating in manufacturing, agriculture, healthcare, renewable energy and other general commerce activities.

By providing additional foreign‑currency resources, the facility is expected to help import‑dependent firms meet their input needs and support both local and regional supply chains.

AfDB Director General for East Africa, Alex Mubiru, said the deal demonstrates the bank’s commitment to strengthening Kenya’s financial ecosystem and expanding trade‑finance access.

AfDB Head of Trade Finance Lamin Drammeh added that the facility will ease financing pressures on Kenyan importers and exporters and contribute to closing Africa’s trade‑finance gap, estimated at over $74 billion.

The partnership also supports intra‑African trade, aligning with the African Continental Free Trade Area (AfCFTA) objectives by facilitating cross‑border transactions that require foreign currency for equipment, raw materials and machinery.

Family Bank expects the facility to boost its capacity to lend to micro, small and medium‑sized enterprises, including women‑owned and women‑led businesses, which make up over 80 % of its customer base.

CEO Nancy Njau noted that the new funding will translate into tangible opportunities for businesses and support inclusive economic growth as the bank executes its 2025‑2029 strategy.

Overall, the $10 million facility equips Family Bank with additional resources to finance eligible businesses’ trade‑related requirements, reinforcing activity in manufacturing, agriculture, healthcare and renewable energy sectors.