KDC Woos Development Partners
The Government of Kenya, through the Kenya Development Corporation (KDC) has committed to accelerate credit provision to key sectors of the economy to spur economic growth and development through innovative financing mechanisms. Through a High-Level Development Partners meeting hosted by KDC in Mombasa.
During the high-level meeting with local and international development partners, the Cabinet Secretary, Ministry of Investments, Trade, and Industrialization, Hon. Moses Kuria said that, the Government is demonstrating it’s dedication to collaboration and synergy in pursuit of Kenya’s development objectives.
The Cabinet Secretary, Ministry of Investments, Trade and Industry – Hon. Moses K. Kuria has reiterated the important role of Kenya Development Corporation (KDC)’s as the engine for Kenya’s economic development. He emphasized that KDC’s need to leverage on its enterprise value as a Development Finance Institution to attract Foreign Direct Investment (FDI) so as to get Country back to production.
The meeting brought together key stakeholders to explore opportunities for partnership in establishing credit lines that will facilitate onward lending to crucial sectors of the Kenyan economy, including the manufacturing sector, Small and Medium Enterprises (SMEs), agribusiness, health, hospitality and tourism, real estate, energy, climate change, information and communications.
KDC Board Chairman Hon. Dr. Sakwa Bunyasi emphasized the importance of this collaboration to enable KDC to provide financial resources to vital sectors of the economy.
“The proposed credit lines will serve as a catalyst for economic progress, allowing KDC to facilitate access to affordable financing for key sectors that drive economic growth and employment in Kenya. The partnership with the development partners will help KDC to achieve its mandate by providing the necessary funding to support the SMEs,” KDC Board Chairman Dr. Sakwa Bunyasi said.
Through strategic lending partnerships, KDC aims to bolster the development of industries such as agriculture, technology, healthcare, infrastructure, and renewable energy in line with the Kenya Kwanza Bottom-Up Economic Transformation Agenda (BETA).
On her part, KDC Director General Norah Ratemo said the credit line initiative will open up new avenues for collaboration, innovation, and collective efforts to address the socio-economic challenges Kenyan entrepreneurs face while trying to scale their enterprises.
“We look forward to building strong partnerships with development partners, who share the vision of a thriving Kenyan economy that benefits its citizens. The infusion of capital will accelerate sustainable economic growth,” Ms. Ratemo said.
The event also highlighted Kenya’s attractive investment opportunities to both local and international investors. With its strategic geographical location, conducive investment environment, predictable tax regime, and a young and dynamic workforce, Kenya presents a compelling investment destination for those seeking to impact the African continent positively.