Prime Cabinet Secretary and Foreign Affairs CS Musalia Mudavadi has reaffirmed Kenya’s commitment to deepening its partnership with the International Finance Corporation (IFC) as part of efforts to accelerate economic transformation.
In a post on his official X account, Mudavadi said he accompanied President William Ruto to a meeting with IFC Managing Director Makhtar Diop, where discussions focused on expanding areas of collaboration between Kenya and the World Bank’s private sector lending arm.
The talks explored how Kenya could leverage IFC’s global expertise in the privatization of state enterprises to enhance efficiency, transparency, and investor participation. The Kenya Pipeline Company was highlighted as one of the enterprises earmarked for possible privatization.
Kenya’s strong record of divestiture through the Nairobi Securities Exchange, with landmark successes such as Safaricom and Kenya Commercial Bank, was cited as a demonstration of the country’s potential to empower both institutional and retail investors.
The government intends to build on this legacy to deepen financial inclusion and strengthen Nairobi’s role as a regional investment hub.
The engagement underscored the mutual commitment of Kenya and the World Bank Group to charting innovative pathways that will unlock growth opportunities and position the country as a leading destination for investment in Africa.
Written By Rodney Mbua
