Absa Bank Kenya, a leading Nairobi-based lender partly owned by Kenyan investor Baloobhai Patel, and Unilever Kenya have launched a Ksh4 billion ($30.9 million) financing program to help small and medium-sized enterprises (SMEs) gain easier access to working capital across Unilever’s distribution network.

The facility will be offered through Absa Bank Kenya’s Wezesha Stock loan platform, giving distributors, retailers and stockists access to financing to expand their businesses, improve product availability and strengthen supply chains.

Absa program targets 38 distributors nationwide

The program will initially cover more than 38 Unilever distributors nationwide, along with retailers and stockists within their supply chains. In the first phase, the partners expect to onboard more than 10 distributors before the end of the year.

“For decades, Absa has walked alongside businesses within Kenya’s stock distribution ecosystem, and we deeply value Unilever Kenya as a long-standing corporate partner,” Interim Managing Director and Chief Executive Officer Yusuf Omari said.

“This next phase of our partnership allows us to expand our impact across the value chain by ensuring distributors and retailers have reliable and timely access to financing. Through Wezesha Stock, we are helping businesses overcome barriers to capital and supporting their growth.”

Digital platform speeds up lending

Launched in 2023, Wezesha Stock is a digital lending platform that provides working capital and inventory financing through an automated application process.

The platform offers credit facilities ranging from Ksh100,000 ($773) to Ksh10 million ($77,343) for businesses operating in the fast-moving consumer goods, agro-processing, oil marketing and agrochemicals sectors. Loans of up to Ksh5 million ($38,673) can be approved and disbursed within 48 hours through a fully digital process.

Absa Bank Kenya leadership transition

Absa Bank Kenya, part of South Africa’s Absa Group, operates 86 branches across the country and serves retail, corporate and SME customers. Kenyan investor Baloobhai Patel owns more than a 1% stake in the lender.

Yusuf Omari assumed the role of interim managing director and CEO on July 1, 2026, following the departure of Abdi Mohamed. He previously held the same interim role between 2022 and 2025 during Jeremy Awori’s leadership transition and has worked at the bank since 2004, rising to chief financial officer before taking on senior executive duties.

The financing partnership comes about a month after Absa Kenya introduced a Ksh100 billion ($773.5 million) asset financing program for SMEs, underscoring the bank’s broader push to increase access to credit for businesses that continue to face funding constraints.

Unilever Kenya, headquartered in Nairobi’s Industrial Area, remains a key FMCG player driving structured distribution financing models across the country.