EIB Global and Family Bank Unlock Sh14.7 Billion to Boost Youth and Women-Led Businesses in Kenya

The European Investment Bank’s development arm, EIB Global, and Family Bank have partnered to mobilize KES 14.7 billion (EUR 100 million) to support women-led businesses and youth entrepreneurs in Kenya.

Each institution is contributing EUR 50 million to expand access to finance for small and medium-sized enterprises (SMEs) and mid-sized companies (Mid-Caps), with a strong focus on trade and agriculture. The agreement was announced at the EU-Kenya Business Forum held in Nairobi.

At least half of the funding will be directed to women-owned or led businesses, while a minimum of 30% will support enterprises run by young entrepreneurs.

“SMEs account for more than 80% of our customer base, and this partnership aligns with our strategy to grow SME lending and meet their diverse needs,”

said Family Bank CEO Nancy Njau.

“It enables us to provide not just financing, but also tailored solutions for sustainable business growth.”

In addition to the funding, EIB Global will offer technical support to Family Bank, helping strengthen its gender strategy and develop inclusive financial products. The support may lead to certification under the international 2X Challenge initiative, which promotes investment in women-led businesses globally.

“Women-led businesses often need more than funding—they need training, information, and networks. This partnership allows us to offer that broader support,”

added Njau.

The initiative supports the EU’s Global Gateway strategy, which promotes sustainable development across sectors like manufacturing, agriculture, and climate action in Kenya. It also aligns with the “Investing in Young Businesses in Africa” (IYBA) initiative, which EIB currently chairs.

Family Bank CEO Nancy Njau(R), European Investment Bank (EIB) Vice President Thomas Ostros (C) & Director for African International Partnerships at the European Commission Hans Christian Stausboll sign a partnership mobilising KES. 14.7 billion to expand credit access for women-owned/led enterprises and youth entrepreneurs with each institution contributing half of the total funding. Looking on is Head of the EIB Regional Hub for EA Edward Classen, EU Ambassador to Kenya H.E. Henriette Geiger and Family Bank Chair Lazarus Muema. PHOTO/COURTESY

“This financing will bring much-needed capital into Kenya’s private sector, creating jobs and supporting economic growth,”

said EIB Vice-President Thomas Östros.

“Backing women and youth entrepreneurs is not just fair—it’s smart economics.”

Hans Stausboll, European Commission Director for International Partnerships – Africa, added,

“This partnership under the European Fund for Sustainable Development Plus (EFSD+) is key to supporting SMEs in Kenya. It fuels innovation, empowers women, and promotes sustainable value chains as part of the Global Gateway strategy.”