The Tier one lender Co-operative Bank of Kenya (Co-op Bank) has been recognised for its pioneering work in small business finance, winning the “Product Innovation of the Year (Africa)” award at the Global SME Finance Awards 2025.
The award, hosted by the International Finance Corporation (IFC) and the SME Finance Forum, endorses the lender’s strategy for empowering Micro, Small, and Medium-sized Enterprises (MSMEs).
The bank was honoured at a ceremony in Johannesburg for its “Full-Spectrum Approach to MSME Growth.”
The bank’s strategy moves beyond traditional lending to create a digital and financial ecosystem for small businesses, a segment often deemed high-risk by banks. Key initiatives include a revolving “MSME stock financing” solution for retailers and agro-dealers, and a suite of digital tools for payments and credit.
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According to the reports, in 2024, the bank disbursed Ksh77 billion in digital credits through its M-Coop Cash mobile platform, including Ksh14 billion in unsecured loans based on business turnover, according to the award submission.
The lender said the award validates its commitment to building a supportive ecosystem for MSMEs, who are the engine of Kenya’s economy.
To date, Co-op Bank has engaged over 235,000 MSMEs across Kenya through tiered service packages and educational clinics.
By Juma Ndigo
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