A new partnership between British International Investment (BII) and Standard Chartered Bank has been launched to expand access to trade finance in East Africa. The two institutions have signed a USD 100 million facility aimed at addressing the working capital and trade finance needs of private sector businesses across Kenya and Tanzania.
The funding initiative will target enterprises across a range of sectors including agriculture, food production, healthcare, industrials, and infrastructure. It is expected to generate over USD 450 million in transaction volumes over its duration, unlocking greater economic activity and business expansion opportunities throughout the region.
The facility also aligns with the 2X Challenge, a global initiative first introduced at the G7 Summit in 2018. This inclusion highlights the programme’s role in advancing women’s economic empowerment by meeting criteria such as support for women-led or women-owned businesses, promotion of women in leadership, and increased access to quality employment and financial services for women.
This latest announcement builds on the momentum of a USD 350 million risk participation agreement signed in November 2024, which itself followed the initial agreement between the two organisations in 2013. These joint efforts aim to increase support for small and medium-sized enterprises (SMEs) and corporations operating in Africa and South Asia.
Lord Collins, the UK Government’s Minister for Africa, remarked:
“The UK is facilitating opportunities for growth, at home and abroad. Partnerships between the private sector and the public sector are essential if we are to create growth and jobs for the UK, and our partners in East Africa – and now is the time to do this. By supporting enterprises and businesses in East Africa, in a sustainable and inclusive way, this partnership between British International Investment and Standard Chartered Bank means we can all go far, and go together.”
Speaking on behalf of BII, Ndaba Mpofu, MD, Head of Financial Services Debt and Trade Finance, stated:
“We are thrilled to strengthen our long-standing partnership with Standard Chartered to empower underserved businesses in Kenya and Tanzania. By making trade finance more accessible, especially to benefit women, we are not only boosting the flow of essential goods but also driving inclusive growth and economic resilience in East Africa.”
Charles Corbett, Global Head of Public Sector Coverage at Standard Chartered, added:
“Our enduring partnership with BII is a strong example of how public-private collaboration can drive meaningful change. Together, we’ve helped expand access to trade finance in Africa, supporting businesses, jobs, and broader economic development. This new facility builds on that success, and we’re proud to continue delivering impact where it’s needed.”
Kariuki Ngari, Managing Director and Chief Executive Officer, Kenya and Africa, Standard Chartered, also commented:“We are committed to unlocking opportunities for growth and resilience across East Africa. Through our partnership with BII, this new trade finance facility further empowers local businesses – especially those owned or led by women – by providing them with the capital they need to scale, trade, and thrive. This initiative is a testament of our ongoing commitment to economic development as we champion innovation, diversity, and sustainable growth for our communities.”
