SBM Bank Kenya and Safer Power Group have entered into a partnership that will see the bank extend Sh2.2 billion ($17 million) financing to support green energy manufacturing workshop and construction of a factory.
The partnership will enable Safer Power, a licensed panel builder for Schneider Electric, to scale up local production of critical power infrastructure, including switchboards, control and synchronization panels, distribution boards, meter boards, changeover systems and battery racks.
East Africa’s renewable energy market reached Sh559 billion ($4.3 billion) in 2025 and is expected to expand further as industrialization drives demand for clean energy infrastructure, according to industry data from market research firm, IMARC Group.
SBM Bank Kenya Chief Risk Officer, Edgar Mwandawiro, said targeted financing will be critical to scaling sustainable technologies, as businesses face rising operating costs and climate-related risks
“Access to targeted capital is no longer just an ESG obligation. It is a necessary catalyst to unlock industrial resilience and energy sovereignty for our economy,” Mwandawiro said.
Safer Power CEO, Dalmus Mbai, said local manufacturers face high upfront equipment costs, limited access to credit and costly reliance on imported components, adding that localizing engineering, assembly and green hydrogen technology would reduce import dependence, create high value technical jobs and lower energy transition costs for industries across the region.
