Family Bank Secures USD 10 Million Credit Facility from BlueOrchard Fund to Boost SME Lending
Family Bank has secured a USD 10 million credit facility from the BlueOrchard Microfinance Fund to expand lending to Micro, Small, and Medium-sized Enterprises (MSMEs) across various sectors in Kenya.
The partnership aims to make financing more accessible and sustainable for MSMEs, helping drive business growth, innovation, and job creation.
“As a Bank, the core of our approach is a strengthened commitment to supporting our customers, especially across retail and SME sectors who form over 80 percent of our customer base. Through this credit facility, we will be able to widen our capital base to support more MSMEs by extending credit at favourable terms,” said Family Bank Chief Executive Officer Nancy Njau.
SMEs remain the backbone of Kenya’s economy, contributing about 40 percent to the country’s GDP and employing roughly 80 percent of the workforce. However, many continue to face challenges such as limited access to finance and affordable credit.
“Our partnership exemplifies the profound impact we can achieve when we work together towards a common goal. Supporting MSMEs lies at the heart of BlueOrchard’s mission. We recognize that these enterprises are vital engines of economic growth, job creation, and innovation. We are delighted to partner again with Family Bank to deliver impact that truly matters for communities and future generations,” said BlueOrchard Finance Ltd CEO Michael Wehrle.
In 2021, Family Bank received USD 17 million from funds managed by BlueOrchard to support SMEs and the education sector, a facility that was fully utilized and successfully repaid.
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