Stanbic Bank Kenya has committed to mobilize KSh 13 billion in funding to support emerging businesses, as part of its broader strategy to expand its footprint in the enterprise financing space and drive inclusive economic development.
The fund will be targeted at startups and early-stage businesses across key sectors including agriculture, manufacturing, digital innovation, healthcare, and green energy. According to the bank, the goal is to address a persistent funding gap that continues to hinder growth among Kenya’s promising young enterprises.
“Access to capital remains one of the biggest challenges for startups and small businesses in Kenya,” said Stanbic Bank Kenya Chief Executive Joshua Oigara. “Our KSh 13 billion fund is a deliberate move to empower local entrepreneurs, fuel innovation, and contribute to Kenya’s long-term economic transformation.”
The fund will offer a mix of affordable credit, business advisory services, and mentorship opportunities, in partnership with development finance institutions and other ecosystem enablers. It will also prioritize women- and youth-led enterprises, in alignment with the government’s agenda to promote inclusive and sustainable entrepreneurship.
Supporting MSMEs and Innovation
The launch of the fund comes amid growing calls to strengthen Kenya’s micro, small, and medium-sized enterprises (MSMEs), which account for over 80% of employment and contribute nearly 40% of the GDP. However, many startups struggle to access credit due to a lack of collateral, short business track records, and high risk perception among traditional lenders.
Stanbic Bank aims to fill this gap by offering more flexible and customized financial solutions. Through its Accelerate Program, the bank has already supported over 50,000 entrepreneurs, and the new fund will scale up this impact.
“This fund is not just about financing. It’s about providing holistic support ,knowledge, networks, and capital to enable startups to thrive and scale,” said Oigara.
The financing initiative is also part of Stanbic’s long-term expansion strategy, which includes deepening its presence in the SME and digital finance segments. The bank plans to integrate digital lending tools, data-driven credit scoring, and automation to make access to capital faster and more efficient for startups.
In addition, the bank is collaborating with innovation hubs, incubators, and universities to identify high-potential startups and tailor financial products that meet their needs.
A Boost to Kenya’s Vision 2030
The KSh 13 billion startup fund aligns with the Kenya Vision 2030 and the Bottom-Up Economic Transformation Agenda (BETA), which place entrepreneurship at the heart of economic growth and job creation.
Industry stakeholders have welcomed the move, describing it as a timely boost for the startup ecosystem, particularly in a year where fundraising by local tech companies and SMEs has slowed amid global economic pressures.
Stanbic Bank reiterated its commitment to empowering Kenyan businesses, noting that long-term prosperity depends on the success of small and emerging enterprises.
“Our purpose is to drive Kenya’s growth by connecting dreams to opportunities. Startups are the lifeblood of innovation, and we are here to walk the journey with them,” said Oigara.
Applications for the fund are set to open in the coming weeks, with a nationwide awareness campaign to be launched to reach eligible businesses across the country.
