Family Bank, one of the leading Kenyan commercial banks, has signed a $10 million trade finance facility with the African Development Bank to expand funding for small and medium-sized enterprises and local corporations in Kenya.

The facility will provide foreign-currency financing for businesses importing goods and equipment across several key sectors. The financing will target companies operating in manufacturing, agriculture, health care and renewable energy, as well as women-owned businesses.

The deal comes as Kenyan companies seek greater access to trade finance amid efforts to strengthen cross-border commerce and deepen participation in regional African markets.

Trade finance gets a boost

Alex Mubiru, AfDB director general, said the agreement reinforces the development bank’s support for Kenyan businesses and the country’s financial system. He said the facility would help meet import-financing needs while supporting intra-African trade and the implementation of the African Continental Free Trade Area.

“This facility will help meet the import trade finance needs of small and medium-sized enterprises and local corporates in Kenya,” Mubiru said. “Importantly, it will also support intra-African trade” and contribute to the AfCFTA agenda, he said.

Family Bank Chief Executive Officer Nancy Njau said the facility would allow the lender to expand financing for micro, small and medium-sized enterprises, which account for more than 80% of the bank’s customer base. The funding gives Family Bank additional capacity to serve businesses that form a large part of Kenya’s economy.

Family Bank expands reach

Family Bank was established in 1984 by Titus Kiondo Muya as Family Bank Building Society, starting with a single branch. It became a fully fledged commercial bank in May 2007 and now operates 95 branches across 32 Kenyan counties under regulation by the Central Bank of Kenya.

The lender has more than 1.2 million customers, 6,000 banking agents and 75,000 merchants nationwide. Its offerings span retail and consumer banking, SME finance, agribusiness, corporate banking, trade finance and insurance, with its county banking strategy focused on expanding access across Kenya.

Profit growth strengthens position

Family Bank Group reported a 62% increase in profit after tax to Ksh3.7 billion ($28.5 million) in the six months ended June 30, 2026, from Ksh2.2 billion ($17 million) a year earlier. The increase was supported by balance-sheet expansion and tighter cost management as the lender executes its 2025-2029 strategy.

The results came after Family Bank’s June 2026 listing on the Nairobi Securities Exchange, adding a public-market milestone as the lender expands its corporate and SME franchise. The AfDB facility gives the bank another funding channel as it seeks to deepen trade finance and serve businesses across Kenya.

AfDB backs African commerce

The African Development Bank Group is a multilateral development finance institution focused on supporting sustainable economic development and social progress across African countries.

Its trade-finance programs provide funding and risk support intended to help financial institutions expand access to capital for businesses engaged in regional and international commerce.