KCB Kenya has received Sh19.5 billion ($150 million) financing from the African Development Bank Group (AfDB), allowing it to expand its lending, especially to women-led entities and green businesses.
The country’s largest lender, by asset base, said Sh12.9 billion of the funds will be subordinated debt. Subordinated debt is classified as tier two capital and contributes to a bank’s total capital position that determines the amount of lending a bank can do.