European Bank for Reconstruction and Development to Expand into Sub-Saharan Africa
The European Bank for Reconstruction and Development (EBRD) is set to expand its presence into four additional countries in Sub-Saharan Africa, following its initial establishment in Nigeria. The bank plans to open offices in Kenya, Benin, Senegal, and Côte d'Ivoire to strengthen its local presence and identify new investment opportunities.
Expansion Plans
The announcement was reported by CNBC Africa, citing Matteo Patrone, EBRD Vice President for Banking. According to Patrone, this expansion aims to replicate the bank's intervention model developed in other regions, particularly through support for the private sector. Nigeria is the first step in this new African expansion, having become an EBRD country of operation in 2025. The country has already benefited from financing exceeding €150 million, as well as a dedicated trade finance facility. The bank has also deployed a team to develop projects in various sectors, including agribusiness, telecommunications, technology, and extractive industries.
New Markets
This presence is expected to gradually expand to four other markets. Benin, Côte d'Ivoire, Kenya, and Senegal are among the countries identified by the EBRD for this first phase of expansion. Ghana is also among the selected countries to benefit from the bank's financing. This expansion into Sub-Saharan Africa follows a change in the EBRD's mandate. In May 2023, its shareholders approved an amendment to its statutes to authorize an extension of its activities to certain countries in the region. The goal is to support emerging economies by financing private sector projects.
Investment Plans
In this context, it is worth noting that the EBRD plans to invest at least $1.5 billion in Nigeria over the next three years. During the inauguration of its first office in Sub-Saharan Africa, in Lagos, the bank's officials indicated that they had already committed approximately $280 million since their arrival in the Nigerian market in October 2025, including $180 million in the first half of the year. The EBRD also expects to invest nearly $300 million in 2026, depending on the opportunities identified with the private sector.
EBRD's History and Mission
Established in 1990 to support the economic transition of Central and Eastern European countries, the EBRD has gradually expanded its scope to Central Asia, Turkey, North Africa, and the Middle East. With this new step into Sub-Saharan Africa, the institution seeks to strengthen its role as a development financing actor in new markets.
