East African banks secure major financing to expand regional lending

Major East African financial institutions have secured significant funding to expand lending capabilities and support regional economic growth.

Kenya’s Co-operative Bank has obtained a $100 million financing programme from the European Bank for Reconstruction and Development (EBRD). This facility is designed to provide foreign currency financing to Kenyan businesses, particularly in sectors such as manufacturing, agriculture, horticulture, tourism, and logistics. The funding aims to address cash-flow gaps for exporters and manufacturers who require foreign currency to manage working capital, trade finance, and long-term investments.

In Tanzania, CRDB Bank Plc has secured a $300 million syndicated term loan facility, following $744 million in total commitments from 34 international commercial banks and development finance institutions. Coordinated by Intesa Sanpaolo and Investec Group, the transaction is the bank’s largest refinancing under its syndicated loan programme since 2022. The proceeds will be used for general corporate funding, liquidity management, and expanding lending activities within Tanzania and across East and Central African trade corridors.