By Ian Okal
The Co-operative Bank of Kenya has won the Product Innovation of the Year (Africa) award at the Global SME Finance Awards, recognising its fresh approach to financing small businesses across the continent.
The awards, hosted in Johannesburg by the International Finance Corporation (IFC) and the SME Finance Forum, honoured Co-op Bank for what judges described as a “full-spectrum approach to MSME growth”—a model that blends credit, digital tools, and advisory support.
Rather than focusing solely on lending, the bank has built a broader ecosystem for micro, small and medium-sized enterprises (MSMEs), which often struggle to attract funding from risk-averse lenders.
Among its standout products is a revolving stock finance facility that allows retailers and agro-dealers to replenish inventory without lengthy loan approvals. Its M-Coop Cash mobile platform also plays a central role, disbursing more than Sh277 billion (£4.4 billion) in unsecured loans last year to small traders nationwide.
The lender has also tailored its programmes to women- and youth-led enterprises, expanding access to affordable credit and digital payment tools to help them scale operations.
Recently, Co-op Bank extended a Sh110 million (£577,000) financing package to Eboss Investments, a firm of young real estate developers building a mixed-use project in Ruiru, on the edge of Nairobi.
The facility covers mortgage, construction, and development costs for the new Seven Oaks Schools, which will anchor a gated community featuring 100 homes, a commercial hub, and green spaces.
The recognition highlights Co-op Bank’s growing role in redefining inclusive banking—moving from traditional credit models to solutions that help entrepreneurs build, trade, and grow.
