KCB and Afreximbank sign $800 million deal to finance Vipingo Special Economic Zone
KCB Group and the African Export-Import Bank (Afreximbank) have signed a Memorandum of Understanding (MOU) to provide $800 million in financing for investors in the Vipingo Special Economic Zone (SEZ) in Kilifi County.
Afreximbank will contribute $500 million while KCB will provide $300 million under the agreement. The announcement was made at the Arise Integrated Industrial Platforms (Arise IIP) – Kenya Investment Forum 2025, which brought together leaders to position Kenya as a key investment hub.
Financing framework to boost industrial growth
The initiative will offer competitive financing solutions to businesses setting up in the SEZ, with a focus on manufacturing, agro-processing, logistics, and value-added industries. Support will include working capital facilities, project finance, trade financing, guarantees, and advisory services.
KCB Group CEO Paul Russo said the partnership strengthens efforts to make Vipingo SEZ a gateway for export-oriented industries. He emphasized the zone’s role in scaling sustainable industrial growth through shared infrastructure and access to global markets.
Strategic partnerships driving Kenya’s SEZ agenda
Vipingo SEZ is one of Kenya’s flagship projects under the Special Economic Zones Authority (SEZA), designed to attract investment and accelerate regional development. Afreximbank Managing Director for Export Development Oluranti Doherty highlighted the bank’s commitment to using SEZs as engines for industrialization, export growth, and regional integration.
The signing was attended by President William Ruto, Afreximbank President Prof. Benedict Oramah, and Arise IIP CEO Gagan Gupta. It forms part of Afreximbank’s $3 billion Country Programme to Kenya, which also supports industrial parks in Naivasha and Dongo Kundu.
By channeling capital into Vipingo SEZ, the partnership is expected to unlock infrastructure, strengthen export industries, and position Kilifi as a major investment destination.
