KCB Group PLC has signed a partnership with pan-African lender African Export-Import Bank (Afreximbank) to provide financial and trade facilitation support to investors eyeing opportunities in the Vipingo Special Economic Zone (SEZ) in Kilifi County.
The two institutions announced that they will provide an initial funding package of 500 million US dollars from Afreximbank and 300 million US dollars from KCB.
The funds will go towards supporting enterprises setting up operations in the zone, with priority sectors being manufacturing, agro-processing, logistics and value addition.
The announcement was made during the Kenya Investment Forum 2025 hosted by Arise Integrated Industrial Platforms (Arise IIP). The forum brought together business leaders to discuss ways of positioning Kenya as a leading investment destination.
KCB Group Chief Executive Officer Paul Russo said the partnership was a major step in strengthening Kenya’s industrial development agenda.
“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,” Russo said.
Under the framework, investors will benefit from tailored financing solutions. These include working capital, project finance, trade financing, project preparation, guarantees and advisory services.
Afreximbank’s Managing Director of Export Development, Oluranti Doherty, said the deal was part of the bank’s mandate to promote African trade and industrialisation.
“Afreximbank’s mandate is to promote and expand African trade, and this partnership with KCB is a concrete demonstration of that commitment. Special Economic Zones are powerful engines for industrialisation, export growth, and economic diversification. Through this financing framework, we will not only enable enterprises to scale but also support the creation of sustainable supply chains that uplift local communities and drive regional integration,” Doherty said.
The Vipingo SEZ is one of the flagship projects under the Special Economic Zones Authority. It has been identified as a catalyst for attracting investment and spurring economic growth in the Coast region.
By channelling affordable capital into the zone, the partnership is expected to unlock infrastructure, support export-oriented industries and make Kilifi County more attractive to domestic and foreign investors.
The agreement was signed in Vipingo on September 16, 2025. Mr Russo represented KCB Group, Ms Doherty signed on behalf of Afreximbank, while Arise IIP Kenya Chief Executive Officer George Olaka also signed for his organisation.
The ceremony was witnessed by Afreximbank President and Chairman of the Board of Directors Prof. Benedict Oramah and Arise IIP Founder and Chief Executive Officer Gagan Gupta.
The deal builds on Afreximbank’s 3 billion US dollar Country Programme for Kenya, signed in 2023 to support industrial development projects including the Naivasha Industrial Park, the Dongo Kundu Industrial Park and the Vipingo SEZ.
The bank has already disbursed 40 million US dollars for the development of Vipingo SEZ and has committed an additional 500 million US dollars to finance individual investors establishing businesses within the zone.
Russo said the collaboration highlights the importance of partnerships in bridging Africa’s financing gap while enabling the private sector to play a transformative role in sustainable development.
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