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KCB Group PLC and pan-African multilateral development bank, African Export-Import Bank (Afreximbank) have entered a Memorandum of Understanding aimed at providing financial and trade facilitation support to investors operating in the Vipingo Special Economic Zone (SEZ) in Kilifi County.
Under the agreement, African Export-Import Bank (Afreximbank) and KCB Group will provide initial funding amounting to US$ 500 million (KES 64.5Billiuon) and US$ 300 million (KES38.7Billion) respectively towards the initiative.
The announcement was made during the Arise Integrated Industrial Platforms (ARISE IIP) – Kenya Investment Forum 2025 where business leaders converged to deliberate on how to position Kenya as a preferred investment destination.
Under the framework, prospective investors will benefit from competitive financing solutions to establish operations within the SEZ, with a focus on manufacturing, agro-processing, logistics, and value-addition enterprises.
By combining resources, expertise, and networks, KCB and Afreximbank will empower both local and international investors to enjoy tailored financing solutions, including working capital facilities, project finance, trade financing, project preparation facility, guarantees and advisory support among others.
Speaking during the signing ceremony on September 16, 2025, in Vipingo, KCB Bank Group CEO, Paul Russo said, “This agreement marks a significant step in our mission to catalyse sustainable industrial growth in Kenya and across the region.
We are delighted to elevate Vipingo SEZ as a gateway to transforming, creating and sustaining an environment in which export-oriented industries can thrive, by leveraging economies of scale, shared infrastructure and access to global markets.”
The agreement underscores the role of strategic partnerships in bridging Africa’s financing gap while enabling the private sector to play a transformative role in sustainable development.
