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Originally published by The Standard BusinessNovember 27, 2025
5h ago
Co-op Bank inks South Sudan rural finance deal backed by Sh2.6b UNDP fund
South Sudan lender will implement Component II of the Rural Enterprise and Agriculture Development project under a $20 million grant from the IFAD...
✨ Key Highlights
Co-op Bank of South Sudan, a subsidiary of Kenya's Co-operative Bank, has finalized a multi-year agreement with the United Nations Development Programme (UNDP) to bolster agricultural financing and food production in South Sudan. This initiative, part of the $20 million (Sh2.58 billion) Rural Enterprise and Agriculture Development (READ) project, aims to strengthen rural finance systems and empower small-scale farmers.
- The project is funded by a $20 million (Sh2.58 billion) grant from the International Fund for Agricultural Development (IFAD), with additional support from the South Sudanese government and other partners.
- The agreement was signed by Dr. Ligane Sene, Deputy Representative and Senior Economist for UNDP in South Sudan, and Elijah Wamalwa, Managing Director of Co-operative Bank of South Sudan.
- This development comes as Co-op Bank of Kenya reported a 12.3 percent rise in profit after tax to Sh21.6 billion for the third quarter of 2025, with its South Sudan subsidiary posting a restated profit of Sh93.5 million.
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