Oikocredit acquires minority stake in Credit Bank

From left to right: Acting Chairman Credit Bank Moses Mwendwa, Director Credit Bank Grace Nyachae, Portfolio Director Africa Oikocredit International Robert Kagiri, Credit Bank CEO Betty Korir and Equity Officer East Africa Oikocredit International Anthony Gichini during the signing of the deal. [Courtesy]

Social impact investor Oikocredit has acquired a minority stake in Credit Bank after inking a Sh1 billion equity investment deal.

The bank intends to use the funding to grow its Small and Medium Enterprises (SMEs) loan portfolio and further build on the trade finance solutions already offered by the bank.