KCB, Afreximbank Seal $800M Deal to Boost Vipingo SEZ
KCB, Afreximbank Seal $800M Deal to Boost Vipingo SEZ
KCB Group PLC https://ke.kcbgroup.com/ and the African Export-Import Bank (Afreximbank) have signed a Memorandum of Understanding to finance and support investors at the Vipingo Special Economic Zone (SEZ) in Kilifi County.
Under the deal, Afreximbank will provide US$ 500 million, while KCB will contribute US$ 300 million. The agreement was announced at the Arise Integrated Industrial Platforms (Arise IIP) – Kenya Investment Forum 2025, where leaders discussed Kenya’s investment opportunities.
Deal Overview and Commitments
The partnership will give investors access to affordable financing to set up operations at Vipingo SEZ. Targeted sectors include manufacturing, agro-processing, logistics, and value addition.
Together, KCB and Afreximbank will pool resources and expertise to support both local and international investors. They plan to offer working capital, project and trade financing, guarantees, project preparation facilities, and advisory services.
KCB, Afreximbank Seal $800M Deal to Boost Vipingo SEZ
During the signing ceremony in Vipingo on September 16, 2025, KCB Group CEO Paul Russo said the agreement was a milestone for Kenya’s industrial agenda.
“This deal marks a step toward sustainable growth in Kenya and the region. Vipingo SEZ will become a gateway for export industries by leveraging shared infrastructure, economies of scale, and global market access,” Russo noted.
Driving Industrial Growth and Trade
Vipingo SEZ is a flagship project under the Special Economic Zones Authority (SEZA). It aims to attract investment and accelerate regional development.
By channeling affordable capital, the KCB–Afreximbank partnership will unlock infrastructure, grow export industries, and position Kilifi as a magnet for local and foreign direct investment.
Afreximbank’s Managing Director for Export Development, Oluranti Doherty, stressed the bank’s role in boosting African trade.
“Special Economic Zones are engines of industrialization, export growth, and diversification. This partnership will help enterprises scale, strengthen supply chains, and uplift local communities while promoting regional integration,” she said.
The deal also builds on Afreximbank’s US$ 3 billion Country Programme for Kenya, signed in May 2023. The programme supports industrial projects such as the Naivasha Industrial Park, Dongo Kundu Industrial Park, and now Vipingo SEZ. Afreximbank has already released US$ 40 million for Vipingo and set aside another US$ 500 million for future investors.
The signing ceremony brought together Afreximbank President Prof. Benedict Oramah, Arise IIP Founder and CEO Gagan Gupta, and other leaders.
Ultimately, this partnership shows how strategic collaborations can close Africa’s financing gap and empower the private sector to drive sustainable development.
