SBM’s $17m bet on Safer Power puts Kenya’s clean-energy manufacturing in focus
SBM Bank Kenya has committed $17 million to Safer Power Group to expand local manufacturing of electrical equipment used in renewable energy and power infrastructure, strengthening Kenya’s capacity to supply components for the region’s growing clean energy market.
The financing will support the development of a new manufacturing facility and expand production of switchboards, control panels, distribution boards, meter boards, changeover systems and battery racks. Safer Power, a Kenyan engineering and energy company and licensed panel builder for Schneider Electric, supplies equipment for power generation, distribution and industrial applications.
The investment comes as East Africa’s renewable energy sector expands amid rising electricity demand, industrialisation and increased investment in power infrastructure. The regional renewable energy market was valued at $4.3 billion in 2025 and is projected to reach $7.1 billion by 2034, according to IMARC Group.
The expansion is expected to increase Kenya’s domestic manufacturing capacity for equipment required to connect renewable energy projects to electricity networks, businesses and consumers. Growing deployment of battery storage is also increasing demand for electrical infrastructure and related technical services.
Safer Power Chief Executive Dalmus Mbai has identified high capital requirements, limited access to financing and reliance on imported supply chains as key constraints facing manufacturers. The new financing is intended to provide capital for specialised equipment and increased production capacity.
The transaction also highlights a growing role for commercial banks in financing the energy transition. While renewable energy projects have traditionally relied heavily on development finance institutions and climate focused investors, commercial lending is increasingly extending to businesses manufacturing and supplying the infrastructure required by clean energy projects.
Kenya’s predominantly renewable electricity system provides a significant domestic market for such equipment. KenGen generates about 86% of its electricity from renewable and clean sources, while continued investment in generation, transmission, distribution and energy storage is expected to sustain demand for supporting infrastructure.
Safer Power is also developing capabilities in green hydrogen technology, including a green hydrogen roadmap and a hydrogen proof of concept at its manufacturing operations.
The expansion could provide an opportunity for Kenya to retain more economic value from its energy transition by developing capabilities in engineering, fabrication, installation and maintenance alongside renewable power generation.
However, scaling local clean energy manufacturing will depend on competitive pricing, technical skills, reliable infrastructure, access to long-term financing and the ability to meet regional standards. Expanding beyond Kenya could also allow manufacturers to serve East Africa’s wider power market as cross-border electricity trade and renewable energy investment increase.
The SBM Bank Kenya Safer Power financing therefore links clean energy investment with industrial development, with the potential to strengthen Kenya’s domestic supply chain for renewable energy and power infrastructure.
Real ESG impact doesn’t happen in panels alone, it happens in the rooms where financiers, operators, and policymakers actually align. Our GreenShift Forum 2026 cuts the noise, bringing together the people rewiring Africa’s sustainability and energy frameworks for one focused day in Nairobi. Secure your seat.
Follow us on WhatsApp, Telegram, Twitter, and Facebook, or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates. Send tips to econews@techtrendsmedia.co.ke
