The Co-operative Bank of Kenya Limited
Africa
Region
171.2
Commitment (MNOK)
Active
Status
Norfund is participating with USD 16MM directly and USD 3.4MM through the European Financing Partners in a USD 100MM DEG-led subordinated loan to COOP Bank. The funds will strengthen the bank’s capital base, support lending to MSME and position the bank for future growth. COOP is the 3rd largest bank in Kenya, 65% owned by local co-operatives and the largest co-operative bank in Africa.
Key information
- Sector:
- Financial Inclusion
- Commitment (MNOK):
- 171.2
- Year:
- 2022
- Region:
- Africa
- Country:
- Kenya
- Domicile:
- Kenya
- Instrument:
- Loans
- Status:
- Active
- Mandate:
- Development
Additionality
This investment is particularly additional on the following ambitions:
- Investing in the poorest countries
- Investing in the most capital constrained markets
- Investing in the riskiest markets
- Investing in sectors with high development needs
- Investing in high risk instruments
- Targeting underserved segments
- Improving social and environmental performance