Victoria Commercial Bank
Introduction
Swedfund has issued a loan to Victoria Commercial Bank, a medium-sized bank in Kenya. The loan is aimed at the bank's small and medium-sized enterprise customers to support growth and job creation in developing countries.
Swedfund's investment will help small and medium-sized enterprises gain access to long-term financing through loans, benefiting their growth and contributing to economic growth and a strengthened local private sector.
Read more in our press release: Swedfund invests in Kenyan bank with SME focus
Facts
SDG in focus
No Poverty
End poverty in all its forms everywhere.
Gender Equality
Achieve gender equality and empower all women and girls.
Decent Work and Economic Growth
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
Reduced Inequalities
Reduce inequality within and among countries.
Sector
Financial Inclusion
Financial Inclusion invests in, amongst others, regulated banks and microfinance institutions to reach out more broadly and effectively.
Value creation
Our Impact
Our investment contributes to financial inclusion, jobs and other income-generating opportunities locally. The investment increases women's economic empowerment by promoting female leadership, offering products and services that specifically benefit women and girls, and providing women with jobs and finance.
ESG
We are working closely with the company to further develop its environmental and social management systems to address issues related to sustainability processes. We are also working closely with the company to develop its anti-corruption management system.
Additionality
Our investment is financially additional as it is made in a challenging context associated with risk and where access to capital is limited. The investment is value additional through active value creation where issues such as women’s economic empowerment, anti-corruption and environmental and social issues are prioritised.