Credit Bank Secures Sh2 Billion in New Funding

The Sansora Group of Companies and Shorecap III fund have agreed to provide Sh2 billion in fresh shareholder capital to Credit Bank PLC ahead of the regulatory deadline of December 31, 2025.

Insiders said each party will inject Sh1 billion through an upcoming rights issue to ensure the bank meets the new minimum capital threshold of Sh3 billion that comes into force on January 1, 2026.

Credit Bank is seeking regulatory approval from the Central Bank of Kenya ahead of a planned extraordinary general meeting at the end of November.

The funds raised will be used to support Credit Bank’s ongoing turnaround strategy focused on digital transformation, regional expansion, and new growth initiatives in the SME space.

In addition to the planned rights issue, Credit Bank is looking to float a medium-term note at the Nairobi Securities Exchange.

This will strengthen Credit Bank’s access to local capital markets while offering investors a secure, high-yield corporate bond opportunity. The bond is expected to be offered to both institutional and retail investors.

Credit Bank was licensed by the Central Bank of Kenya as a non-banking financial institution in 1986 under the name Credit Kenya Limited. It converted to a fully-fledged commercial bank in 1995.

The bank has 17 branches spread across the country and specializes in the provision of banking services to small corporates and micro, small and medium-sized enterprises.

In July 2025, Credit Bank shareholders approved a proposal for the bank to list shares on the Unquoted Securities Platform in 2026.

Sansora Group is a diversified equity investor with interests in banking, real estate, insurance and aviation. Sansora is also a founding member in Credit Bank, having been a shareholder since 1986.

Shorecap is a private equity fund registered under the laws of Mauritius, with Equator Capital Partners LLC as the managers of the fund. It is established by a limited partnership agreement and its shares are owned by ShoreCap III GP Limited, African Development Bank Group, CDC Holdings Guernsey Limited, European Investment Bank, KfW Development Bank and Oesterreichische Entwicklungsbank AG (OeEB).

ShoreCap’s business model mainly focuses on investing in inclusive financial services in Asia and Africa. The ultimate objective of the fund is to expand access to affordable and responsive financial products and services for underserved market segments.