The KCB Group has inked a deal to provide various financial services to Dutch companies entering the Kenyan market in a major boost to the country’s largest lender.
On Wednesday, KCB Group signed a memorandum of Understanding (MoU) with Netherland’s Invest International to establish the Dutch Desk.
“The new platform will provide tailored financial solutions for Dutch businesses looking to enter or expand operations in Kenya, fostering entrepreneurship and economic growth in key sectors,” said the Dutch government in a press statement.
“The Dutch Desk will offer a comprehensive suite of financial services, including the opening of local accounts, working capital funding, trade financing, investment loans, and long-term financing for Kenyan importers,” added the statement.
Kenyan and Dutch start-ups operating in the country will be major beneficiaries of the platform, said the Dutch government.
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 farming projects, processing facilities, and research and development initiatives in Kenya.
The Netherlands is also a major donor to Kenya’s development programs, providing financial and technical assistance in various sectors, including agriculture, education, and healthcare.
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 advancing Public-Private Partnerships (PPPs) in these sectors.
“Various key PPP projects have already been identified. These projects will advance to the next phase with support from the Kenyan government, Invest International, and other stakeholders, contributing to Kenya’s infrastructure development,” said the Dutch government.
