Business & Economy3 stories
While Kenya's banking sector is increasing investment in climate finance, with institutions like KCB Group, Standard Chartered Kenya, and Equity Bank reporting growth in green loans, these funds are largely inaccessible to Micro, Small and Medium Enterprises (MSMEs). Critics argue that the green finance boom is primarily benefiting large corporations and commercially viable infrastructure projects, rather than addressing the climate vulnerabilities of exposed communities. It is argued that capital is concentrating where it is easiest to invest, leaving socially urgent challenges underfunded. Meanwhile, in a corporate move to reduce energy costs, Unga Farm Care EA has installed a new biomass boiler at its manufacturing plant in Nairobi, in collaboration with Lean Energy Solutions, to lessen its dependence on diesel.
