Kenya’s Kenya Development Corporation (KDC) has committed to accelerating credit provision to spur economic growth and development through innovative financing mechanisms.
The Cabinet Secretary, Ministry of Investments, Trade, and Industrialization, Hon. Moses K. Kuria, emphasized the importance of leveraging its enterprise value as a Development Finance Institution to attract Foreign Direct Investment (FDI).
“The Government recognizes KDC is an Important enterprise value as a development finance partner in reviving the economy’s production. I have challenged them to redefine itself as a reputable Development Financial Institution (DFI) partner of choice and Kenya’s Sovereign Wealth Fund.”
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.
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 development partners will help KDC achieve its mandate by providing the necessary funding to support SMEs.
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.
The event also highlighted Kenya’s attractive investment opportunities for both local and international investors, with its strategic geographical location, conducive investment environment, predictable tax regime, and young and dynamic workforce making it a compelling investment destination for those seeking to positively impact the African continent.
