Stanbic Bank Kenya and Stanbic Bank Uganda, members of the Standard Bank Group, have successfully closed a USD 45 million long-term funding package designed to support the ambitious expansion plans of two major PepsiCo bottlers in East Africa: Crown Beverages Limited (CBL) in Uganda and SBC Kenya Limited in Kenya.
The cross-border transaction allocates USD 30 million to CBL and USD 15 million to SBC Kenya. The funding is expected to boost local manufacturing output, enhance productivity, and strengthen local supply chains across both countries.
Paul Muganwa, Executive Director and Head of Corporate and Investment Banking at Stanbic Bank Uganda, emphasized the deal’s alignment with their strategic vision. “By structuring a cross-border solution in partnership with our colleagues in Kenya, we are advancing inclusive growth across financial, enterprise, and industrial dimensions,” he said. The investment is specifically projected to stimulate job creation, benefiting youth, women, and farmers within the supply chain, while enhancing regional trade linkages.
The transaction is a testament to the Standard Bank Group’s ability to seamlessly connect clients and opportunities across its extensive network, which spans 20 African markets.
The Group’s relationship with CBL is long-standing, dating back more than two decades. This milestone builds on recent support, including advising and funding the acquisition of SBC Kenya by CBL’s shareholders in 2023.
SJ Kok, Head of Corporate and Investment Banking at Stanbic Bank Kenya, highlighted the success of this collaboration. “Our ability to collaborate across our country teams underscores the power of our regional network,” he stated. “We were able to seamlessly extend support to SBC Kenya and design a funding structure that met the complex requirements of a brownfield expansion.”