SBM Bank Kenya Chief Risk Officer Edgar Mwandawiro (right)
cuts a ribbon to launch Safer Power Group Limited Safer Industries Manufacturing
Factory and the Green Hydrogen Proof of Concept together with the Safer Power
Green Hydrogen Roadmap during the company’s 10th anniversary celebration in
Athi River in Machakos county on Thursday, August 27, 2026. With him from the left are Rev Dr Matthews Mwalw’a, Uasin Gishu Senator Jackson Mandago, Machakos CEC - Public Works and Energy John Kilonzo, Safer Power Group Limited CEO Eng.
Dalmus Mbai and Nation Media Group Managing Director and CEO Geoffrey Odundo.
SBM./HANDOUTSBM Bank Kenya has struck a $17 million financing deal with Safer Power Group to support the expansion of green energy manufacturing and the construction of a factory, in a move expected to strengthen local production of critical power infrastructure.
The partnership, unveiled in Nairobi on August 28, will support Safer Power’s manufacturing workshop and factory construction as demand for clean energy solutions continues to grow across East Africa.
Safer Power is a licensed panel builder for global energy technology company Schneider Electric.
SBM
Bank Kenya Chief Risk Officer Edgar Mwandawiro (right) cuts ribbon to launch
Safer Power Group Limited Safer Industries Manufacturing Factory and the Green
Hydrogen Proof of Concept together with the Safer Power Green Hydrogen Roadmap
during the company’s 10th anniversary celebration in Athi River in Machakos
county on Thursday August 27th, 2026. With him from left is Uasi Gishu Senator
Jackson Mandago, Machakos CEC -Public Works and Energy John Kilonzo, Safer
Power Group Limited CEO Eng. Dalmus Mbai and Nation Media Group Managing
Director and CEO Geoffrey Odundo./HANDOUTThe financing is expected to enable the company to significantly increase local production of specialised switchboards, control panels, synchronisation panels, distribution boards, meter boards, changeover systems and battery racks.
The deal comes at a time of growing investment and interest in East Africa’s renewable energy sector.
According to the statement, the region’s renewable energy market reached $4.3 billion in 2025 and is projected to expand further as industrialisation drives demand for clean energy solutions.
Uasin Gishu Senator Jackson Mandago, Machakos CEC
-Public Works and Energy John Kilonzo, SBM Bank Kenya Director, Corporate,
Commercial & Institutional Banking Eric Wambua, President of the Institution
of Engineers of Kenya (IEK); Eng. Harison Keter Safer Power Group
Limited CEO Eng. Dalmus Mbai, and IER Honorary Secretary Eng. Grace
Muthoni cut the ribbon to launch Safer Power Group Limited Safer Industries.
Manufacturing Factory and the Green Hydrogen Proof of Concept together with the
Safer Power Green Hydrogen Roadmap during the company’s 10th anniversary
celebration in Athi River in Machakos county on Thursday August 27th, 2026./HANDOUTSBM Bank Kenya Chief Risk Officer Edgar Mwandawiro said access to targeted financing was increasingly important in helping businesses invest in sustainable technology.
“Commercial enterprises face rising operational costs and escalating climate 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,” he said.
Safer Power Ltd Chief Executive Officer Dalmus Mbai said local green energy manufacturers continue to face major financial barriers, including the high cost of specialised equipment and limited access to credit.
He said manufacturers were also heavily dependent on expensive foreign supply chains.
“Local green energy manufacturers across East Africa face significant financial hurdles, from high upfront capital investments for specialised equipment to severe credit gaps and heavy reliance on expensive foreign supply chains,” Mbai said.
Mbai said expanding local engineering, assembly and green hydrogen technology could reduce dependence on imports and lower the cost of the energy transition for industries.
“By localizing engineering, assembly, and green hydrogen technology, we can drastically reduce import dependency, create high-value technical jobs, and lower energy transition costs for industries across the region,” he said.
The statement also cited the International Renewable Energy Agency as indicating that a transition to clean energy and localised green technology manufacturing could increase regional GDP by up to 6.4 per cent while creating thousands of specialised technical jobs.
The financing deal comes as SBM Bank Kenya continues to expand lending to businesses.
The bank’s net loan book surpassed Sh50 billion for the first time in 2026, rising 18.3 per cent year-on-year to Sh54.09 billion by the end of June.
According to the statement, the growth followed a multi-year strategy that has seen the bank shift away from low-yielding government securities and increase financing for micro, small and medium enterprises and local businesses.
