NCBA has renewed a KES 3 billion partnership with the African Guarantee Fund (AGF). The goal is to empower SMEs across Kenya. The renewed deal will run for 10 years. It will provide financial support to small businesses and women-led enterprises.
NCBA will use AGF’s risk-sharing model to increase access to credit. This will especially help businesses led by women and youth.
So far, the bank has disbursed loans worth KES 17 billion under the AGF guarantee. Out of this, KES 8 billion supported 696 SMEs.
These loans generated over 7,200 jobs. Women got 2,200 jobs, and youth secured more than 4,000 opportunities.
Mr. John Gachora, NCBA’s Group Managing Director, and Mr. Jules Ngankam, AGF’s CEO, signed the agreement.
“This strategic partnership with AGF is proof of our devotion to SMEs, particularly those spearheading sustainable practices led by women.”
“I believe that by increasing our guaranteed limit, our capacity to offer more flexible and long-term financial solutions that support SME growth will contribute to economic growth.”
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Support for Green Projects and Women Entrepreneurs
NCBA will also support renewable energy and sustainable agriculture. This effort will include tailored loans for green projects and women-led businesses.
AGF will give NCBA a Capacity Development grant. This will build credit-ready pipelines of women-owned SMEs (WSMEs).
“Our partnership with NCBA represents a significant step in our mission to support SMEs, who constitute almost 98% of all business in Kenya, and create over 30% of the jobs annually.”
“NCBA has been a valued partner for over 12 years, and this renewal marks a new milestone in our shared mission to unlock financing for SMEs.”
“Our collaboration has already achieved remarkable impact, and by increasing this facility, we can reach even more businesses that are shaping the future of Kenya’s economy.”
The deal supports AGF’s Affirmative Finance Action for Women in Africa (AFAWA). It also backs AGF’s Green Guarantee Facility.
Earlier, NCBA marked International Women’s Day with a dinner in Kapsabet. The bank praised the resilience of women-led businesses.
The group also promised more education programs, tailored financial services, and strong business networks for women.
The Group directs 30% of its procurement to women and youth. It also runs mentorship and skills training programs.
In 2024, NCBA partnered with Proparco to support green projects and women entrepreneurs with KES 6.5 billion.
Each year, NCBA invests KES 150 million in education, sports, and community programs.
NCBA encourages SMEs to seek financing and other services through the bank. These include online banking, forex, and cash management.