Kenya Development Corporation (KDC), in conjunction with High Level Development Partners, seeks to scale up its credit provisions through innovative financing mechanisms.

Trade Cabinet Secretary Moses Kuria, who officiated the function, underscored the important role of Kenya Development Corporation (KDC) as the engine for Kenya’s economic development.

Kuria emphasised that KDC needs to leverage its enterprise value as a Development Finance Institution to attract Foreign Direct Investment (FDI) so as to get the Country back to production.

KDC’s chairperson, Sakwa Bunyasi, equally emphasised the importance of this collaboration to enable KDC to provide financial resources to vital sectors of the economy.

“The proposed credit lines will serve as a catalyst for economic progress, allowing KDC to facilitate access to affordable financing for key sectors that drive economic growth and employment in Kenya, “said Bunyasi.

He added that the partnership with development partners will go a long way in ensuring that KDC achieves its mandate by providing necessary financial support to SMEs.

On her part, KDC Director General Norah Ratemo said the credit line initiative will open up new avenues for collaboration, innovation, and collective efforts to address the socio-economic challenges Kenyan entrepreneurs face while trying to scale their enterprises.

“We look forward to building strong partnerships with development partners, who share the vision of a thriving Kenyan economy that benefits its citizens,” said Ratemo.

“The infusion of capital will accelerate sustainable economic growth,” he added.

By Fred Odanga.