Kenya Development Corporation (KDC) has taken a step forward to champion SME growth at the Nyanza International Investment Conference in Kisumu, themed “Nyanza Rising Towards Economic Transformation.” The event brings together investors, business leaders, and policymakers to unlock the potential of SMEs as a driving force to stimulate Kenya’s social economic development.
Speaking at the conference, the Director General of KDC, Norah Ratemo emphasized the critical role of SMEs in economic transformation, stating, “SMEs are the backbone of Kenya’s economy, contributing over 80% of employment and nearly 40% of GDP. Yet, they continue to face significant barriers, including limited access to financing, infrastructure gaps, and market opportunities. KDC is not just talking about solutions; we are taking decisive action to break these barriers and empower SMEs to succeed.”
KDC commits to bolstering Key Sectors of the Economy to Spur Growth
KDC is committed to providing targeted financial solutions that address the unique challenges faced by SMEs. “We are offering innovative project financing, asset finance, working capital, and equity finance to ensure businesses have the capital they need to expand, modernize, and compete effectively. Our advisory services are equipping SMEs with the expertise necessary to scale their operations and attract investment,” said the Director General.
Beyond financing, KDC is playing a pivotal role in supporting industrialization through County Aggregation and Industrial Parks. “We are partnering with county governments and the private sector to support SMEs to access affordable finance to acquire processing facilities, working capital and supply chain networks. This initiative is designed to elevate SMEs from subsistence operations into high-value industries that will drive Kenya’s economic transformation,” said Norah.
KDC is also leading specialized de-risking programs such as the EXIM Bank of India line of credit, which facilitates technology transfer and industrial growth, the DRIVE Project supporting pastoral SMEs, and the SAFER Project providing post-COVID recovery funding. The Corporation is also in the process of establishing a Green Investment Fund to scale up environmentally sustainable businesses.
“We are calling on SMEs to take advantage of the financing opportunities available, investors to partner with us in funding high-potential enterprises, county governments to collaborate with us in fast-tracking industrialization, and development partners to support de-risking SME financing,” urged the Director General. “KDC is not just a financier; we are a strategic partner in Kenya’s economic journey. Our mission is to ensure that SMEs become key drivers of wealth creation and job opportunities.”
The Nyanza International Investment Conference provides a platform to forge transformative partnerships that will unlock the region’s and country’s full economic potential. KDC remains committed to empowering SMEs, fostering industrialization, and driving Kenya’s economic transformation.
