KCB Group has signed a deal to provide diversified financial services to Dutch companies entering the Kenyan market in a major boost for the country’s largest bank.
On Wednesday, KCB Group signed a memorandum of understanding with Dutch company Invest International to establish the Dutch office.
“The new platform will provide tailored financial solutions to Dutch companies looking to enter or expand their operations in Kenya, promoting entrepreneurship and economic growth in key sectors,” the Dutch government said in a press release.
“The Dutch office will provide a comprehensive range of financial services, including local account opening, working capital financing, trade financing, investment loans and long-term financing to Kenyan importers,” the statement added.
The Dutch government said that Kenyan and Dutch startups operating in the country will be the main beneficiaries of the platform.
Kenya is a major exporter of agricultural products to the Netherlands, including flowers, tea, coffee and vegetables. The Netherlands is one of the leading markets for Kenyan agricultural exports including flowers and vegetables, providing a stable and lucrative market for Kenyan farmers.
Dutch companies have invested in large-scale agricultural projects, processing facilities, and research and development initiatives in Kenya.
The Netherlands is also a major donor to Kenya’s development programmes, providing financial and technical assistance in various sectors, including agriculture, education and healthcare.
The Netherlands and Kenya are also developing a Declaration of Intent (DoI) to support priority infrastructure projects in sectors such as water, coastal infrastructure, agriculture, renewable energy, manufacturing and healthcare with a focus on strengthening public-private partnerships (PPPs) in these sectors. Sectors.
“Several PPP projects have already been identified. These projects will move to the next stage with the support of the Kenyan government, Invest International and other stakeholders, contributing to the development of infrastructure in Kenya,” the Dutch government said.