NAIROBI, Kenya, June 2 – Development financier Kenya Development Corporation (KDC) says it is departing from several priority projects in the country, citing maturation.
The company says the change is part of its strategy to scale down the risks of small and medium-sized enterprises (SMEs), which are usually considered risky by private investors but have the potential to create employment and impact the economy of the country.
“We are keen on supporting SME development across the country by investing in viable businesses in the early stages of development. Our strategy is to de risk these businesses and make them attractive to investors,” said KDC Acting Director General Norah.
Ratemo further added that the corporation is selling its stake in several businesses that have matured and are now well positioned to grow without KDC’s ownership.
The company has exuded confidence in the Kenyan market, observing that the country has a predictable tax regime, and a stable economic environment.
Others are improving the ease of doing business and creating a rich pick-up place for a highly skilled labour force.
KDC, which was established in 2020, offers development finance, infrastructure finance, business support, and advisory services to medium- and large-scale industries.
