The EIB is committed to supporting Kenyan Banks in providing credit to the young and growing population in the region. Kenya is increasingly becoming a hub for the region on many levels and we as a Bank must look at this from a very basic point of view: there is a young and growing population with enormous potential, you need credit to support that momentum.”

The EIB signed a EUR 75 million (Kshs 8.25 billion) credit line with Equity Bank, under which funds are earmarked for three subsidiaries; EUR 36 million (Kshs 3.96 billion) for Equity Tanzania, EUR 20 million (Kshs 2.2 billion) for Procredit DRC and EUR 19 million (Kshs 2.09 billion) available through Equity Uganda. The on-lending will be available in USD or local currencies with the objective of contributing to job creation and poverty reduction. In addition, Equity Group will benefit from a EUR 2m (Kshs 220 million) technical assistance program funded by the EIB to support its strategy of transforming branches into SME business centres.

Equity Group Managing Director & CEO Dr James Mwangi said ‘With this facility of Kshs 8.25 billion (EUR 75 million) we will be in a position to support up to 1000 regional companies with an average loan of nearly Kshs 10 million each thus assisting develop local entrepreneurs to compete at regional level furthering integration and cross border trade.” 

Next to this, a EUR 20 million (Kshs 2.2 billion) credit line under the EIB’s East and Central Africa Private Enterprise Finance facility was signed with HFC Limited. This credit line will support HFC in providing the much needed longer term financing to private enterprises and commercially operated public sector entities in productive sectors in Kenya, in line with EU and national development priorities. In addition, HFC will benefit from EIB funded technical assistance program aimed at strengthening capacity in line with its strategy.

“I am proud to note that the success of the initial funding by EIB, has now brought more opportunities and we are happy to be recipients of another 20 million Euros, which is undoubtedly, an endorsement of the impact HFC is having on the SME sector. This new funding will be channelled towards financing the working capital and expansion of our growing SME customer base.” said Sam Waweru, HFC Managing Director.

Since September 2014, the credit lines in the region are supported by a EUR 5 million (Kshs 550 million) technical assistance (TA) programme to support financial intermediaries and SMEs over a 3 year period. The programme will be extended for a further 3 years from April 2017 for an additional EUR 4.7 million (Kshs 517 million) and is coordinated out of Nairobi, with a permanent presence of consultants in Kenya, Tanzania, Uganda and Rwanda.

In the last seven years, the EIB has provided EUR 321 million (Kshs 35 billion) in credit lines for Kenyan businesses, which have benefitted nearly 800 Kenyan companies, creating over 9,000 new jobs in agriculture, education, transport, tourism, trade and other sectors.  

Background information:


The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The European Investment Bank has supported transformational investment across Africa for more than 50 years and operates in Kenya since 1977. Over the last decade the EIB has provided more than EUR 22 billion (Kshs 2.42 trillion) for long-term investment across Africa.

Equity Group Holdings Limited is a financial services holding company in East Africa. The Group has banking subsidiaries in Rwanda, Kenya, Uganda, South Sudan, Tanzania and DRC, with additional non-banking subsidiaries engaged in provision of investment banking, custodial, insurance agency, philanthropy, consulting and infrastructure services. Over the years, the Group has built a social and economic brand and scaled up by providing financial services to the masses through a diversified distribution of its products and services. It has also had a unique approach to impacting the lives of the people in communities where it operates using existing infrastructure, enormous human capital and strong brand.

Press contacts:



EIB: Tim Smit, t.smit@eib.org, Tel.: +352 691 286423
EGHL: Alex Muhia, Alex.Muhia@equitybank.co.ke, Tel: +254 0763 618871; Office +254 0763 026007, CorporateCommunications@equitybank.co.ke
HFC Limited: Achieng Oluoch, Achieng.Oluoch@hfgroup.co.ke

Related stories

Equity Bank Uganda marks 10-year anniversary with a move to a state-of-the-art head office in Church House

Equity Bank Uganda has moved its Head Office to the ultramodern Church house building on 34 Kampala...

View More
Equity Bank Unveils Its Digital Banking Solutions

The Eazzy Banking suite of products includes a banking app known as EazzyBanking App which allows...

View More
Equity Bank’s differentiated strategy results in growth of the Bank’s size to nearly half a trillion on the backdrop of a challenging operating environment

The Group’s profit before tax grew to KShs 24.9bn from KShs 24.0 bn with the regional subsidiaries...

View More
Equity Group secures its shareholders nod for a Kshs 20 billion pan African expansion bid

The approvals, which were secured during the firm’s 11th Annual General Meeting (AGM) held today...

View More
Equity's Partnership With Kyamuhunga Uplifts Tea Farmers

The factory, commissioned by Uganda’s President, H.E. Yoweri Kaguta Museveni has so far exported...

View More
Equity Bank Unveils MVNO strategy and rollout plan

Equity Bank today unveiled its Mobile Virtual Network Operator (MVNO) strategy and rollout plan...

View More
Equity Bank profit before tax up 21 percent in first quarter 2013

The Group posted a profit before tax of Kshs 4.52 billion up from Kshs 3.73 billion posted during a...

View More
Equity Bank's Strategy Increases Profits by 36 percent

The Group’s total assets posted a 24% growth during the year to close at Ksh 243 billion up from...

View More
MasterCard and Equity Bank Announce Partnership to Introduce PayPass™ Enabled Cards

Partnership to increase financial inclusion and boost EMV migration efforts in the region.

View More
Orange launches Visa card in partnership with Equity Bank

Orange launches Visa card in partnership with Equity Bank.

View More
Equity Bank CEO joins Global Alliance for Food Security and Nutrition

Equity Bank Group CEO, Dr. James Mwangi has joined the Global Alliance for Food Security and...

View More
21 Equity Bank Scholars receive scholarships to study in world leading universities in 2012

21 scholars in the Equity Bank university sponsorship program have so far received scholarships in...

View More
Equity Bank profit before tax grows by 29%

During the period under review, Equity Bank Group’s loan book grew by 27% from Kshs 97.7 billion...

View More
250 Top KCSE scholars to benefit from Equity Bank's university sponsorship programme

Two hundred and fifty top performers in last year’s Kenya Certificate of Secondary Education are...

View More
Equity Bank Group and IFC Team up to Expand Access to Finance in East Africa

International Finance Corporation (IFC), a member of the World Bank Group, today extended a Kshs 8.3...

View More
Purchase for Progress November Update Access to Finance

This issue focuses on access to finance. It includes two articles from the field (Kenya and El...

View More
Equity Uganda officially unveils a new brand identity aimed at charting sustainable growth.

Equity will now present itself as a unified brand with a consolidated business model for its...

View More
Equity Bolsters its Support to Small and Medium Sized Enterprises in Kenya, Uganda, Rwanda & DRC with USD 75 Million (Kshs 8.25 Billion) Women Guarantee Fund with African Guarantee Fund (AGF)

The African Guarantee Fund (AGF) and Equity Group Holdings Plc have signed an agreement which will...

View More
United Nations Uganda and Equity Bank Uganda establish new partnerships for acceleration of attainment of the SDGs

The new partnership will promote social inclusion and improve economic outcomes for human...

View More
Equity Bank Uganda Donates 2,000 Mosquito Nets Worth UGX 40 million for Market Vendors Towards the Fight against COVID-19

This contribution is in addition to what the Bank had previously donated to the COVID-19 task force...

View More
Equity Bank unveils EazzyFX, an electronic channel for settling forex transactions

Equity Bank has today unveiled EazzyFX, an innovative electronic channel that allows customers...

View More
Equity receives double International Standards Certification on IT Service and Information Security Management Systems

Equity Bank Kenya Limited has received two International Standards Certifications - ISO 20000 and...

View More
Service finder
Equity Bank is Regulated by Bank of Uganda