Tourism Growth in Laikipia Spurs SBM Bank’s New Branch in Nanyuki

Laikipia County’s expanding tourism sector is reshaping the local economy and attracting new financial investments, with Nanyuki emerging as a key commercial and tourism hub.

Strategically located, Nanyuki serves as the gateway to renowned wildlife conservancies such as Ol Pejeta, Lewa, Borana, and Loisaba. These conservancies draw visitors from within Kenya and abroad, supporting a diverse range of businesses including hotels, tour operators, transport providers, restaurants, and suppliers.

The ripple effect of tourism extends beyond hospitality, fueling growth in construction, real estate, food supply chains, and professional services. This vibrant ecosystem has prompted SBM Bank Kenya to establish a new branch in Nanyuki, aiming to better serve businesses within the tourism value chain and other sectors driving the local economy.

Investment Opportunities in Laikipia

Laikipia Governor Joshua Irungu highlights the county’s attractive investment landscape, pointing to thriving sectors such as tourism, agribusiness, real estate, and manufacturing. He emphasises that these industries offer fertile ground for private sector growth and investment.

"Laikipia’s economy has thriving sectors that create a perfect investment environment, especially for the private sector," Irungu stated.

Nanyuki’s position as a commercial nexus linking tourism hotspots, agricultural zones, and neighbouring towns strengthens its appeal as a business centre.

SBM Bank’s Strategic Expansion

SBM Bank Kenya’s Chief Executive Officer Bhartesh Shah described Nanyuki as a high-growth market where combining physical branches with digital banking can deliver enhanced customer value.

"Nanyuki is exactly the kind of market our strategy is built for. The region is a high-growth economy where relationship banking and digital convenience should work together," Shah said.

The bank’s decision aligns with its strong financial performance. For the first half of 2026, SBM Bank reported a 171.3% increase in profit before tax to Ksh548 million and an 88.2% rise in net profit to Ksh380.2 million. Customer deposits grew 24% to Ksh94 billion, while net loans and advances increased by 18% to Ksh54.1 billion. Total assets stood at Ksh109.9 billion as of June 2026.

Growing Regional Banking Competition

The new branch in Nanyuki reflects a broader trend of financial institutions expanding beyond Kenya’s major cities to tap into emerging regional markets. Laikipia’s dynamic sectors—tourism, agriculture, property development, and small enterprises—are driving demand for credit, payment solutions, and other banking services.

As a commercial base for Laikipia’s tourism and investment activities, Nanyuki is set to remain a focal point for banks and businesses seeking growth opportunities.

SBM Bank Kenya, which entered the market in 2017, is part of the Mauritius-based SBM Group, extending its footprint in Kenya’s evolving financial landscape.