NAIROBI, Kenya, Nov 16 – Equity Bank has signed a trade credit financing deal with BPI France, a French investment bank, to support Small and Medium Enterprises (SMEs) in Kenya and the wider East African region.
The partnership will offer local and regional investors funding in both US dollars and Kenya shillings to grow their businesses across six countries where Equity Bank operates.
Equity Bank Group CEO James Mwangi highlighted the agreement’s potential to bridge the financing gap and enhance trade ties between Kenya and France.
“This agreement creates a bridge between us and France to facilitate trade between Europe and Africa,” Mwangi said.
“We aim to be catalysts and facilitators of trade, empowering SMEs to expand and transition into large enterprises and corporates.”
BPI France CEO Nicolas Dufourcq emphasized France’s role as a key investor in Kenya, particularly in fintech, agriculture, and renewable energy.
He noted that French businesses have contributed to local entrepreneurship through capital infusion and technology transfer.
The partnership aligns with Kenya’s recent implementation of the Economic Partnership Agreement (EPA) with the European Union, which grants Kenyan exporters duty-free access to 27 EU nations, including France, Germany, and Italy.
The agreement is expected to boost economic growth, job creation, and trade opportunities for Kenyan businesses in the trillion-dollar EU market.
The EPA also includes provisions for sustainable development, gender equality, labor issues, and climate change, further enhancing economic relations between Kenya and the EU.
Equity Bank’s growing SME lending program and the new trade credit financing deal with BPI France are set to position the lender as a key player in regional economic development and cross-border trade.
