The European Bank for Reconstruction and Development says it has invested nearly 800 million euros in less than a year across five sub-Saharan markets. Heike Harmgart, its managing director for the region, presents this review in an interview published by Financial Afrik on 3 November.
The announced scope covers Benin, Côte d'Ivoire, Kenya, Nigeria and Senegal. The executive describes an intervention combining financing, banking partners and support for businesses.
An investment trajectory already set out in the strategy
This presence is part of a scale-up planned well in advance. The EBRD's operational plan for 2026-2028 sets the ambition of exceeding one billion euros of annual investment in sub-Saharan Africa by 2027. This is an annual flow target, separate from the cumulative total presented in the interview.
The strategic framework for 2026-2030, approved by shareholders on 15 May 2025, also gives direction to committed capital. Across all its countries of operation, the bank intends to devote three quarters of its cumulative financing to the private sector and at least half of its annual investment to green projects. These institutional objectives do not constitute a breakdown of the announced sub-Saharan portfolio.
KCB illustrates the route through local banks
In Kenya, an earlier agreement shows how this strategy reaches small businesses. KCB Bank Kenya announced on 8 July 2026 a 100 million dollar facility from the EBRD for microenterprises and small and medium-sized enterprises. The arrangement plans to direct 35% of the envelope to businesses led by women or young people and 30% to eligible green investments.
The EBRD's project summary classifies this transaction as signed and specifies that the funds must be on-lent to Kenyan private businesses. It also sets out environmental and social requirements for the financed activities, along with annual monitoring by KCB. Access to financing therefore comes with criteria covering both beneficiaries and projects.
The agreement also includes technical assistance to strengthen KCB's green lending capabilities, through training and advice. In the interview, Heike Harmgart explains that SMEs approach partner intermediaries according to their eligibility criteria. The local banking channel thus remains a practical entry point to the institution's resources.