The Kenya Development Corporation (KDC) has unveiled a pipeline of financing programmes worth more than Sh18.5 billion and over Sh51.8 billion ($400 million) aimed at expanding access to long-term capital for businesses, in a move expected to accelerate industrialisation and support the growth of small and medium-sized enterprises (SMEs).
The State-owned development finance institution said the funding will be mobilised through a series of ongoing and proposed initiatives targeting key sectors of the economy, including manufacturing, automotive, climate finance and SMEs.
Speaking during KDC’s inaugural Customer Networking Forum in Nairobi, Director General Norah Ratemo said the financing programmes are designed to unlock investment, strengthen enterprise growth and create jobs while positioning businesses to tap regional and international markets.
The funding pipeline includes the National Automotive Sector Development Project, a proposed financing programme for medium-sized enterprises, a partnership with the Africa Guarantee Fund (AGF), the proposed Green Investment Fund, a KfW-supported SME financing programme and the proposed Industrial Levy Fund.
“Collectively, these initiatives represent well over Sh18.5 billion and more than $400 million in financing opportunities that will strengthen enterprise growth, industrialisation and job creation,” Ratemo said.
She noted that KDC’s role extends beyond providing long-term financing, saying the corporation is increasingly focusing on building business ecosystems that enable enterprises to collaborate, access markets and establish commercial partnerships.
MSME Development Principal Secretary Susan Mang’eni said businesses require more than affordable financing to scale up, noting that stronger collaboration, knowledge sharing and strategic partnerships are increasingly becoming critical to enterprise growth.
She urged businesses to leverage the networks created through the forum to explore new markets, embrace innovation and take advantage of government and private sector programmes supporting value addition and employment creation.
“Sustainable enterprise growth requires more than access to finance. Businesses must also build partnerships that enable them to innovate, compete and access regional and global markets,” Mang’eni said.
The forum also showcased enterprises supported by KDC that have expanded operations and created employment.
