In partnership with tourism sector players, the Kenya Development Corporation (KDC) has unveiled investment opportunities tailor-made to the tourism and wildlife sector players.
As Kenya’s single cross-sector Development Finance Institution, KDC is enabled with sufficient scale, scope, and resources to play a catalytic role in the tourism sector. The corporation has committed to providing development finance, infrastructure finance, business support, and advisory services to medium and large-scale industries in the prestigious but currently struggling tourism sector.
KDC is a Development Finance Institution established in 2020 to merge the operations of the Tourism Finance Corporation (TFC), Industrial and Commercial Development Corporation (ICDC), and IDB Capital Limited.
Speaking during the inaugural Kenya Parks Investment Forum 2023 organized by the Ministry of Tourism, Wildlife & Heritage, Kenya Wildlife Services, and Kenya Investment Authority, KDC Director Investments, Ms Judith Omachar, outlined the Corporation’s strategic packages that will facilitate the provision of financial solutions that cater to both emerging and established businesses, fostering development while preserving the nation’s natural heritage.
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“The financial products and services we offer will encompass a wide spectrum of business requirements, including the provision of Working Capital support where investors will have access to financial assistance to manage their day-to-day operations efficiently, ensuring smooth functioning and sustained growth.”
“Additionally, Project Finance will ensure that the investors establish, expand, or modernize its ventures and will find tailored financial solutions to realize its aspirations, driving innovation and job creation. The Asset Finance offer will see our clients acquire machinery and equipment to enhance their operations. Lastly, the package will provide businesses with various Advisory Services, including feasibility studies, restructuring support, enterprise valuation services, and financial syndication guidance. These advisory offerings are designed to empower businesses with insights, strategies, and expert knowledge to make informed decisions that drive success” Ms Judith said.
“We also support technology transfer from India to Kenya by facilitating the purchase of plant machinery and equipment from India. With this line of business, we offer a minimum loan amount of US$50,000 of up to 100% C&F financing of the equipment value. We also 75% of the equipment must originate from India.” Ms Judith added
On her part, Cabinet Secretary for the Ministry of Tourism, Wildlife & Heritage, Hon Peninah Malonza, outlined the importance of public and private sector partnerships as the engine towards ensuring prosperous social and economic development.
“To achieve our goals, the government is committed to diverse tourism development initiatives to stimulate investment, job growth, consumer spending, tax revenue, and GDP. We emphasize action through strategic partnerships, collaborating with the National Airline, counties, and the private sector to amplify our collective impact.” Hon. Malonza Noted.
“Kenya is a leading regional economic hub, and tourism is one of Kenya’s most important industries. It links strongly with transport, food production, retail, and entertainment. We know Kenya is one of the world’s most popular tourism destinations, attracting millions yearly to its wildlife, beaches, rich culture, striking geographical diversity, and landscapes. We hope that from this engagement, we hit the road and fully grow this tourism sector.” KWS Director General Dr Erustus Kanga.
