In Brief

KDC’s offering to drive tourism recovery

The Kenya Development Corporation (KDC), in liaison with players in the tourism sector, has introduced tailor-made investment plans for businesses. KDC aims at supporting recovery in the tourism sector by offering development finance, infrastructure finance, business support, and advisory services to medium and large-scale enterprises.

KDC’s Director of Investments Judith Omachar, outlined the financing packages during the Kenya Parks Investment Forum 2023. The offering encompasses working capital support, project finance for expansion and innovation, asset finance for acquiring equipment, and advisory services for making informed decisions.

Further, KDC will facilitate technology transfer from India to Kenya by enabling the purchase of plant machinery and equipment. Participating investors will get a minimum loan of US$50,000 and up to 100 percent C&F financing of equipment value, of which 75 percent must originate from India.

Emphasizing the significance of public-private partnerships, Tourism Cabinet Secretary Peninah Malonza said Kenya is diversifying growth initiatives in the sector. These initiatives will foster investment, job growth, consumer spending, and tax revenue by collaborating with various sectors, including Kenya Airways and private enterprises.

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