Sidian Bank has secured KSh1.1 billion from Triodos Investment Management for onward lending to Micro, Small and Medium Enterprises (MSMEs) in Kenya.
The credit facility will be used for the expansion of Sidian Bank’s loan portfolio to Micro, Small and Medium-Sized Enterprises.
“As Sidian Bank, we are passionate about supporting the growth of Micro and SME customers in line with our goal to be the preferred bank for provision of financial solutions to entrepreneurs,” said Sidian chief executive officer Chege Thumbi in a statement in late October.
“Our partnership with Triodos Investment Management comes at an ideal time when the bank has sustained profitability despite a tough economic environment caused by the Covid-19 pandemic.”
Triodos Investment Management has been active as an impact investor for more than 25 years. This new partnership is aligned with the investor’s main agenda of being a driving force towards a society that is humane, ecologically balanced and works for the benefit of all.
“This partnership with Sidian Bank will offer investment opportunities that are crucial to building local economies and will enable innovative entrepreneurs to develop sustainable businesses,” said Tim Crijns, Fund Manager at Triodos Investment Management.
The facility will be repaid in five years.
