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Co-operative Bank of Kenya Receives Best SME Financier Award

Co-operative bank named best financier

Co-operative Bank of Kenya Plc (COOP) secured the Best Financier of SMEs in Africa award at the Global SME Finance Awards 2023, surpassing close competitor Equity Group in Kenya’s SME financing sector.

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This award acknowledges companies that excel in providing financial products and services to SME clients. The 2023 Global SME Finance Award winners were announced during the Global SME Finance Forum 2023 in Mumbai, India.

Co-operative bank named best financier
Photo: Co-operative Bank CEO, Gideon Muriuki [Photo/Courtesy]

A total of 165 applications were submitted from 120 different institutions across all categories, with 30 applications identified as winners by an independent panel of 85 expert judges.

Organized by the SME Finance Forum and endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI), the Global SME Finance Awards offer institutions a platform to share effective practices and knowledge.

Read Also: Co-Operative Bank Reports Profits and Growth for H1 2023

Launched in 2018 and now in its sixth year, the awards highlight successful practices of financiers, honoring innovative products and services for SME clients that have expanded financial access to SMEs.

These winning entries represent the growing recognition among financial institutions of the role played by Green, Social, and Sustainability Bonds in addressing the climate crisis and advancing Sustainable Development Goals.

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Co-op Bank of Kenya, with a market capitalization of US dollars 490.7 million (Ksh72.18 billion), claimed the top position, outperforming NMB of Tanzania and Equity Group, which received the Silver and Platinum Awards, respectively.

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