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Cabinet okays merger of three Government banks

By Kamau Muthoni | Published Wed, May 16th 2018 at 11:08, Updated May 16th 2018 at 11:20 GMT +3
Kenya Tourism Board Head of Finance and ICT Orumoi Jonah

The Cabinet yesterday approved the merger of three Government financial institutions.

Industrial and Commercial Development Corporation (ICDC), IDB Capital Ltd and the Tourism Finance Corporation (TFC ) will fold to form Kenya Development Bank Ltd.

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 At the same time, the Cabinet also gave the green light to have funds targeting minorities, women and youth consolidated to form Biashara Kenya Fund.

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