Standard Chartered and British International Investment join forces to increase access to trade finance in Kenya and Tanzania

21 May 2025 – London, UK. Standard Chartered, a leading international cross-border bank, and British International Investment (BII), the UK’s development finance institution and impact investor, announce the signing of a USD 100 million trade finance programme to support the trade finance and working capital needs of the private sector in Kenya and Tanzania.

Deal team — (L-R) **Stephen Priestley**, MD, Head of Financial Services Group, BII; **Ndaba Mpofu**, MD, Head of Financial Services Debt and Trade Finance, BII; **Charles Corbett**, Global Head, Public Sector Coverage, Standard Chartered; **Rodney Nyangeri**, Executive Director, Public Sector, Standard Chartered.

Through this facility, Standard Chartered and BII will support local companies in various sectors such as agriculture, food production, healthcare, industrials and infrastructure to access trade and working capital financing for their business needs, thereby boosting economic activity and growth in the region. The facility is expected to facilitate over USD 450 million in gross transaction volumes over its lifetime, providing vital support to businesses and enterprises across East Africa.

The facility also qualifies under the 2X Challenge, a global initiative launched at the G7 Summit in 2018 to mobilize capital towards investments that empower women in developing countries. By meeting the 2X Criteria – such as supporting women-owned or women led businesses, promoting women’s leadership and enhancing access to quality employment and financial services for women – this facility underscores BII and Standard Chartered’s commitment to advancing gender equality and women’s economic empowerment.

This new announcement builds on the success of the previous USD350 million risk participation agreement announced in November 2024, itself an extension of the initial agreement in 2013, that aims to bolster the trade finance needs of SMEs and corporates across Africa and South Asia and to boost economic growth in these regions.

Lord Collins, the UK Government’s Minister for Africa, said: “The UK is facilitating opportunities for growth, at home and abroad. Partnerships between the private sector and the public sector are essential if we are to create growth and jobs for the UK, and our partners in East Africa – and now is the time to do this. By supporting enterprises and businesses in East Africa, in a sustainable and inclusive way, this partnership between British International Investment and Standard Chartered Bank means we can all go far, and go together.”

Ndaba Mpofu, MD, Head of Financial Services Debt and Trade Finance, BII said: “We are thrilled to strengthen our long-standing partnership with Standard Chartered to empower underserved businesses in Kenya and Tanzania. By making trade finance more accessible, especially to benefit women, we are not only boosting the flow of essential goods but also driving inclusive growth and economic resilience in East Africa.”

Charles Corbett, Global Head, Public Sector Coverage, Standard Chartered said:“Our enduring partnership with BII is a strong example of how public-private collaboration can drive meaningful change. Together, we’ve helped expand access to trade finance in Africa, supporting businesses, jobs, and broader economic development. This new facility builds on that success, and we’re proud to continue delivering impact where it’s needed.”

Kariuki Ngari, Managing Director and Chief Executive Officer, Kenya and Africa, Standard Chartered said: “We are committed to unlocking opportunities for growth and resilience across East Africa. Through our partnership with BII, this new trade finance facility further empowers local businesses – especially those owned or led by women – by providing them with the capital they need to scale, trade, and thrive. This initiative is a testament of our ongoing commitment to economic development as we champion innovation, diversity, and sustainable growth for our communities.”

— ENDS —

Standard Chartered
London, UK:
Julien Moity
Senior Communications Manager
Standard Chartered
Email: Julien.moity@sc.com

Nairobi, Kenya
Mercy Kabangi
Head of Communications, Kenya and Africa
Standard Chartered Kenya
Email: Mercy.Kabangi@sc.com

British International Investment
Paschorina Mortty
Head of Origination Marketing and PR
Email: press@bii.co.uk

Standard Chartered
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Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

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British International Investment

British International Investment is the UK’s development finance institution and impact investor. As a trusted investment partner to businesses in Africa, Asia and the Caribbean, BII invests to create productive, sustainable and inclusive economies in our markets. Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development. The company has investments in over 1,580 businesses across 65 countries and total net assets of £8.5 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn and X.