NCBA inks Sh6.75b deal with French firm to finance SMEs

NCBA Group MD, John Gachora and Regional Head of Proparco, East Africa, Audrey Maignan shake hands on USD 50m partnership deal as Ambassador of France to Kenya and Somalia H.E. Arnaud Suquet and NCBA Group Chairman, James Ndegwa look on at Serena Hotel, Nairobi. [Courtesy NCBA, Standard]

Women-led small and medium enterprises (SME's) are set to benefit from a Sh6.5 million deal between NCBA Bank and Proparco, a French firm. The lender will offer up to 60 per cent of the funding to SMEs, mostly women-led businesses and 40 per cent towards green financing.

Speaking during the signing event in Nairobi, NCBA Group Managing Director John Gachora said the funding will boost the bank's "Change The Story" sustainability agenda.