The Swedish Development Finance Institution, Swedfund, invests 5 million USD in the Kenyan bank Victoria Commercial Bank, VCB. The loan is directed at the bank’s small and medium-sized enterprises, SMEs, and is part of Swedfund’s mission to reduce poverty through sustainable business.
Well-run banks play a central role in creating decent jobs, economic growth and sustainable development,
said Maria Håkansson, CEO, Swedfund. In Sub-Saharan Africa small and medium sized enterprises stand for about 80 percent of jobs, and the loan to VCB is a way for Swedfund to contribute to the development of SMEs in Kenya.