Blue economy, alcohol and other sectors where Kenya is seeking investors

The Kenya Development Corporation (KDC) has identified blue economy, and other sectors where investors, both local and international, can channel their money to accelerate growth of their enterprises.

KDC is inviting investors to channel their funds into Kenya’s manufacturing, tourism, agriculture, healthcare, energy, post-harvest management, and ICT sectors asking them to “take advantage of these opportunities.” The investment opportunities were presented during the 3rd Kenya International Investment Conference (KIICO).

Under manufacturing, KDC singled out the development of Isiolo meat and airport development and the development of 8.4 million-square-feet industrial sheds at Athi River EPZ. It also wooed investors to set up in the Centum-backed, soon to be zoned financial district located at Two Rivers Mall, in Nairobi. 

Further, KDC is seeking private equity partners in a flour milling company in an estimated investment of $1.6 million. Also in the pipeline is a deal where an investor is expected to provide $2 million in working capital financing for a fruit processor in an EPZ. KDC said the target company processes fresh mango and banana fruit into mango puree and banana concentrate for export.

In healthcare, KDC is seeking a strategic partner to inject $8 million working capital to upgrade and expand a locally owned pharmaceutical manufacturing company. The company makes generic medicines for the local market. 

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What’s more, the country is seeking a strategic partner to inject $10 million into a healthcare technology platform to expand existing infrastructure.

There is also a deal seeking 11.5 million, which shall be 50 percent to growth capital and 50 percent to cash yield capital, in a locally established investment firm with over 35 years of market experience.

Still under financial services, KDC is seeking a $3 million investment in convertible debt to recapitalise a company that provides payment automation and expense management services.

Kenya’s alcoholic industry is also open to investors as KDC said it is scouting for a strategic partner to inject working capital into an alcoholic beverages manufacturing and distribution company to the tune of $1 million.

Speaking during a Special Concurrent session on Unlocking the Challenges Facing African SMEs, KDC Acting Director General Norah Ratemo said that the corporation is selling its stake in a number of businesses that have matured and are now well positioned to grow without KDC’s ownership.

‘’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 derisk these businesses and make them attractive to investors. We subsequently provide these businesses with financial and technical expertise and market access,’’ Ms Ratemo said.

‘’Once these businesses have matured, we divest from them, allowing KDC to re-invest in new businesses and continue supporting Kenyan SMEs development.

KDC is inviting interested investors to take advantage of these opportunities and invest in Kenya`s growing economy.

‘’Kenya is a land of great opportunities and is ripe for investment,‘’ Ms. Ratemo said. ‘’We have a young and growing population, a stable political environment, reducing energy costs, and a sound economic foundation. We are also a gateway to the East African Community and the wider African continent, making Kenya a great place to do business for local and international investors.’’

KDC is a Development Finance Institution established in 2020 merging the Industrial and Commercial Development Corporation (ICDC) operations, Tourism Finance Corporation (TFC) and IDB Capital Limited.

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