BUSINESS

Kenya and Saudi Arabia Partner to Boost SME Financing

Share
Lee Kinyanjui, Saudi
Trade CS Lee Kinyanjui with a delegation from Saudi Export-Import Bank (Saudi EXIM) PHOTO/@GovLeeKinyanjui/X
Share

Kenya has entered into a new partnership with the Saudi Export-Import Bank (Saudi EXIM) aimed at boosting access to finance for local businesses, especially Small and Medium Enterprises (SMEs).

The partnership was unveiled on Tuesday, August 5, 2025, by Trade Cabinet Secretary Lee Kinyanjui, who said the deal was championed by the Kenya Development Corporation (KDC).

The agreement is expected to strengthen economic ties between Kenya and Saudi Arabia while opening up new opportunities for business growth and job creation.

“We are excited about the opportunities presented by the partnership between Kenya Development Corporation and the Saudi EXIM Bank,” Kinyanjui said.

He noted that both countries have complementary trade and investment priorities that make this partnership valuable.

“Kenya is rich in agricultural potential, while Saudi Arabia brings financial strength and vital energy resources,” he explained.

According to the Trade CS, the collaboration is expected to open up access to much-needed financing for Kenyan businesses, helping them grow, expand operations, and create employment.

“This collaboration is expected to enhance access to finance for businesses, including SMEs, and unlock new areas of bilateral cooperation. Ultimately, it will support job creation and wealth generation for Kenyans,” he said.

The announcement followed a high-level meeting held in Nairobi, where the CS hosted a delegation from the Saudi EXIM Bank led by their Chief Executive Officer, Saad Al-Khalb.

Also present at the event were Kenya’s Ambassador to Saudi Arabia, Amb. Mohamed Ramadhan Ruwange, KDC Board Chairman, Sakwa Bunyasi, and Director General Nora Ratemo.

Saudi, Kinyanjui
Trade CS Lee Kinyanjui with a delegation from Saudi Export-Import Bank (Saudi EXIM) PHOTO/@GovLeeKinyanjui/X

With access to credit remaining a major hurdle for many SMEs in Kenya, the partnership could offer a much-needed boost for entrepreneurs and small business owners across the country.

In Kenya, SMEs play a big role in the economy. They provide jobs to millions of people and support families across the country. However, many small business owners struggle to access loans or financial support from banks. High interest rates, lack of collateral, and strict loan requirements make it hard for them to grow.

This new partnership is expected to ease some of these challenges by offering better access to funding and support for entrepreneurs.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PAST ARTICLES AND INSIGHTS

Related Articles
The Central Bank of Kenya (CBK) headquarters in Nairobi.
BUSINESS

Government Raises Ksh25.9B in Year-End Treasury Bills Auction

The government closed the year on a high note after raising Ksh...

fluorspar mining kenya
BUSINESSECONOMY

Chinese Firm Takes Charge of Fluorspar Mining in Kenya

Sofax Fluorspar Kenya Ltd and Mizztech Group of China is set to...

Safaricom CEOs
BUSINESSLEADERSHIP

The Three Men Who Built Safaricom Into a Corporate Giant

Safaricom enduring strength lies not just in technology or market share, but...

Food and non-alcoholic beverages remained a major source of pressure for households.
BUSINESS

Kenyans Feel the Pinch as Inflation Climbs to 4.5% in December

Kenyans ended 2025 facing a mixed cost-of-living situation as prices of key...