KDC Launches 3-Year Strategic Plan as it Unveils a New Bold Identity
The Kenya Development Corporation (KDC) has today launched its strategic road map for the next three years (2021-2024) during an event held today at Hilton and graced by the Head of Public Service among other senior Government officials.
This event marks an end to the 13-year journey of the Government’s intention to create a strong single cross-sector Development Finance Institution, enabled with sufficient scale, scope, and resources to play a catalytic role in Kenya’s socio-economic development.
The Corporation is poised to address critical gaps in the market for long-term financing in sectors such as infrastructure, manufacturing, and agro-industry that cannot be met by commercial banks, National Treasury Cabinet Secretary, Hon. Amb. Ukur Yattani, EGH said, in a speech read on his behalf by Hon. Nelson Gaichuhie, the Chief Administrative Secretary (TNT).
In its inaugural strategic plan, KDC has identified five Key Result Areas (KRAs) that has heavily focused on ensuring ease of access to finance for Kenyan SMEs, timely business advisory services, and agility in operations for 1st class customer experience.
The new fully Government-owned entity is projecting to grow loan books to SMEs from KSh 4.52 billion in 2021 to KSh 29.44 billion by June 2024.
“Facilitating and enabling small, medium, and large-scale enterprises access to finance to grow is vital to sustainable socio-economic recovery and growth, especially post COVID-19. Over time, however, these enterprises have been financially constrained due to limited resources. Cognizant of this, the Government, among other initiatives has set up Kenya Development Corporation (KDC) to act as a one-stop shop for financial and business advisory services for small, medium, and large enterprises,” KDC Board Chairman Michael Nyachae said.