Family Bank Limited, founded by Kenyan tycoon Titus Kiondo “TK” Muya, has raised Ksh8 billion ($61.8 million) in an oversubscribed private share placement, marking one of the strongest capital raises by a mid-tier Kenyan bank in recent years. The bank had initially targeted Ksh6.09 billion ($47 million), but investor demand exceeded expectations by 31 percent.
The offer attracted major pension funds, fund managers, insurers, corporates, and high-net-worth individuals, reflecting strong confidence in the bank’s strategy, growing profitability, and improving asset quality. The new capital will be used to expand lending to MSMEs, agribusiness, women- and youth-led enterprises, and green financing. It also strengthens the bank’s regulatory capital ratios and supports its digital transformation program.
Family Bank Chairman Lazarus Muema said the overwhelming response signals trust in the bank’s long-term direction and its role in supporting underserved sectors. CEO Nancy Njau added that the capital boost positions the bank to scale lending and pursue a planned listing on the Nairobi Securities Exchange.
Founded in 1984 and now operating 95 branches across 32 counties, Family Bank has grown into Kenya’s fourth-largest bank by geographic reach. The successful capital raise reinforces its ambition to expand regionally and deepen its presence in high-growth sectors, with investors expressing confidence in its next phase of expansion.
