Treasury gets Sh57 million dividend from KDC

The National Treasury building in Nairobi. [File, Standard]

Kenya Development Corporation (KDC) has delivered a Sh57 million dividend to the National Treasury while unveiling a Sh500 million recovery facility for Sacco-based lending.

This was during the inaugural Next Frontier Africa 2025 Summit in Nairobi. The three-day Summit, convened by KDC brought together over 700 public and private sector leaders committed to reshaping Africa's investment architecture. Director General of Budget, Fiscal and Economic Affairs at the National Treasury Albert Mwenda, while receiving the cheque lauded KDC for delivering both financial value and national development impact.

"This dividend reflects not only financial growth but also developmental impact. KDC is demonstrating that development finance can be both commercially sound and socially responsive, channelling capital to sectors that matter most to our future," said Dr Mwenda.

During the summit, KDC signed a Sh500 million financing agreement with Boresha Sacco under the SAFER Programme, aimed at on-lending to micro, small, and medium enterprises (MSMES) still recovering from the post-Covid-19 economic shocks.

The facility will expand access to affordable credit for grassroots enterprises, particularly in underserved regions. State Department for Cooperatives Principal Secretary Patrick Kilemi lauded the facility for driving financial inclusion at the grassroots. "Saccos like Boresha are transforming financial access for ordinary Kenyans. With strategic support from institutions like KDC, we are embedding cooperatives into the national recovery agenda, empowering communities and building economic resilience from the ground up," said Mr Kilemi.

The summit featured various sectoral forums addressing key challenges and opportunities in priority areas such as manufacturing, healthcare, climate resilience, tourism, and the digital and creative economy.

KDC board chair Sakwa Bunyasi highlighted the institution's focus on financing innovation and incubation, especially for young entrepreneurs and high-potential industries.

We must fund what matters, solutions that address climate change, generate decent jobs, and build regional competitiveness. KDC is boldly stepping into that space," said Dr Bunyasi.

KDC Director General Norah Ratemo reaffirmed the corporation's resolve to lead the continent's next phase of development financing by catalysing strategic sector investment and delivering transformative inclusive growth.

"At KDC, we are deploying capital to sectors that unlock value chains, empower communities and create resilient livelihoods. From Saccos to tech startups.