The initiative will enable them to build resilience, improve productivity, and transition to low-carbon practices.
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The collaboration will see the roll-out of Pesapal's advanced Forecourt Management Solution to over 10,000 fuel dealers across East Africa.
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The funding will strengthen KCB Bank’s balance sheet and fund local companies scaling innovative climate technologies, including renewable energy, green mobility, and firms creating sustainable value chains in the agriculture sector.
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The card is tailored to meet the diverse needs of students, athletes, online shoppers, businesses, and corporates.
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The financing support to KCB is part of the IYBA initiative, which is supported by various EU Member States.
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This marks a key milestone in achieving secure, fast, efficient, and collaborative payment systems that support financial inclusion and innovations.
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The project is a syndication of European Financing Partners (EFP), led by Proparco, which is contributing $35 million and $60 million, respectively.
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In addition, cardholders will be able to perform a range of transactions including e-commerce payments, cross-border remittances, QR, and Tap on phone solutions.
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