# African banking sector expansion and financing

> Live situation record from CLSTR: https://clstr.news/situations/african-banking-sector-expansion-and-financing
> Updated: 2026-09-22T05:23:57.000Z. Sources: 13. Developments: 2.

The African banking sector is undergoing a period of expansion and restructuring. As European lenders retreat from the continent, Nigerian and South African banking groups are increasingly filling the void, particularly through cross-border activity in francophone West Africa.

To support this growth and address regional economic needs, major East African financial institutions have secured significant financing. In Kenya, Co-operative Bank obtained a $100 million programme from the European Bank for Reconstruction and Development to provide foreign currency financing for sectors such as manufacturing, agriculture, and tourism. Meanwhile, Tanzania’s CRDB Bank Plc secured a $300 million syndicated term loan facility to support liquidity management and expand lending activities across East and Central African trade corridors.

## Timeline

### 2026-09-22: East African banks secure major financing to expand regional lending

East African banks Co-operative Bank of Kenya and Tanzania’s CRDB Bank have secured major financing to expand lending, support trade, and provide foreign currency access to regional businesses.

2 sources. https://clstr.news/cluster/east-african-banks-secure-major-financing-to-expand-regional-lending

### 2026-09-13: African banks expand as European lenders retreat from the continent

African banks from Nigeria and South Africa are expanding across the continent as European lenders withdraw, while SMEs face a significant $331 billion annual credit gap.

11 sources. https://clstr.news/cluster/virtual-enterprises-require-strategic-digital-infrastructure-and-planning

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Cite as: African banking sector expansion and financing. CLSTR, https://clstr.news/situations/african-banking-sector-expansion-and-financing