KDC commits to bolstering Key Sectors of the Economy to Spur Growth

Through the Kenya Development Corporation (KDC), the Government of Kenya has committed to accelerating credit provision to critical 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 its dedication to collaboration and synergy in pursuing Kenya’s development objectives.

The Cabinet Secretary, Ministry of Investments, Trade and Industry – Hon. Moses K. Kuria, has reiterated the critical role of Kenya Development Corporation (KDC)’s as the engine for Kenya’s economic development. He emphasized that KDC must leverage its enterprise value as a Development Finance Institution to attract Foreign Direct Investment (FDI) to get the Country back into production.

KDC Receives the Green light for Sustainability Standards Certification

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 catalyze 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).

King Charles Raises Concerns Over Ruto-Raila Row

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 for local and international investors. With its strategic location, conducive investment environment, predictable tax regime, and young and dynamic workforce, Kenya presents a compelling investment destination for those seeking to impact the African continent positively.