Ecobank Kenya has received a capital injection of KSh 3.5 billion (approximately USD 27 million), increasing its total capital to KSh 8.5 billion (approximately USD 65 million).
This positions the bank closer to meeting the regulatory capital requirement of KSh 10 billion mandated by 2029.
This capital infusion will bolster Ecobank Kenya’s capacity to support business expansion, facilitate regional trade, and enhance financial inclusion.
The bank will focus on providing financial services to key economic sectors, including regional businesses, SMEs, FinTechs, and women-led enterprises.
Specifically, it aims to strengthen its presence in high-impact areas such as agriculture, manufacturing, ICT and innovation, payments and remittances, and tourism and hospitality. Furthermore, Ecobank Kenya intends to support emerging industries like green energy, transport and logistics, healthcare, and retail and trade, with an emphasis on sustainable development in Kenya and East Africa.
Jeremy Awori, Group CEO of Ecobank Transnational Incorporated, stated: “Kenya is a strategic market for the Ecobank Group and a vital economic hub driving growth across East Africa. This capital reinforcement empowers Ecobank Kenya to capitalize on new business opportunities and deliver long-term value for stakeholders, aligning with our Growth, Transformation, and Returns (GTR) strategy.”
Josephine Anan-Ankomah, Managing Director of Ecobank Kenya and Regional Executive for Central, Eastern, and Southern Africa (CESA), added: “This capital enhancement reinforces our ability to serve as the preferred financial partner for international organizations, regional businesses, SMEs, FinTechs, and women-led enterprises, while solidifying our leadership in regional trade and payments across Central, Eastern, and Southern Africa.”
She further emphasized: “We will leverage our pan-African payment platform to accelerate innovation and establish ourselves as the partner of choice for FinTechs and cross-border payments. Beyond financing, we focus on providing businesses with the capital and expertise needed for scaling, job creation, and sustainable economic transformation.”
Reinforcing the bank’s commitment to financial inclusion, Josephine announced the enhanced Ellevate by Ecobank program in Kenya, designed to provide economic and non-financial support to a broader range of women entrepreneurs, including those in the informal sector.
With this additional capital, Ecobank Kenya is strengthening its capacity to offer increased financing and support to more women entrepreneurs, thereby fostering economic growth and sustainability.
Since its inception in Kenya, the Ellevate by Ecobank program has onboarded over 2,000 women entrepreneurs and provided capacity-building to over 5,000 women nationwide.