KCB Group and the African Export-Import Bank (Afreximbank) have signed a Memorandum of Understanding (MoU) to provide $800 million in financing and trade facilitation support for investors in the Vipingo Special Economic Zone (SEZ) in Kilifi County.
Under the agreement, Afreximbank will commit $500 million while KCB will provide $300 million to back enterprises operating within the SEZ. The deal was announced during the Arise Integrated Industrial Platforms (Arise IIP) – Kenya Investment Forum 2025, which brought together business leaders to discuss strategies for making Kenya a premier investment hub.
The framework will offer competitive financing solutions to investors in manufacturing, agro-processing, logistics, and value-addition, including working capital, project finance, trade financing, guarantees, advisory services, and project preparation facilities.
“This agreement marks a significant step in our mission to catalyse sustainable industrial growth in Kenya and across the region,” said Paul Russo, KCB Group CEO, during the signing ceremony in Vipingo on September 16, 2025. “Vipingo SEZ has the potential to become a gateway for export-oriented industries through economies of scale, shared infrastructure, and global market access.”
Afreximbank’s Managing Director for Export Development, Ms. Oluranti Doherty, emphasized that the initiative aligns with the bank’s mandate of promoting African trade. “Special Economic Zones are powerful engines for industrialization, export growth, and economic diversification. Through this financing, we will enable enterprises to scale, build sustainable supply chains, and drive regional integration,” she said.
The signing was witnessed by Kenyan President William Ruto, Afreximbank President Prof. Benedict Oramah, and Arise IIP CEO Gagan Gupta.
The Vipingo SEZ, one of Kenya’s flagship projects under the Special Economic Zones Authority (SEZA), is envisioned as a catalyst for regional growth. The funding is part of Afreximbank’s $3 billion Country Programme to Kenya launched in 2023, which also supports the Naivasha and Dongo Kundu industrial parks.
