Details of the High Level Development Partners engagement meeting hosted by KDC- CS Kuria
Details of the High Level Development Partners engagement meeting hosted by KDC- This after noon, Trade Cabinet Secretary Moses Kuria attended a meeting, where KDC Repositions Enterprise Value to support Manufacturing , Exports and Foreign Direct Investments (FDI)
Present were, KDC- Chairman Hon. Dr. Sakwa Bunyasi, KenInvest Chair – Sally Mahihu, KDC Director General Norah Ratemo, Directors and Managers.
The statement read
The Government recognizes KDC is an Important enterprise value as a development finance partner in reviving the economy’s production.
I have challenged them to redefine it’self as a reputable Development Financial Institution (DFI) partner of choice and Kenya’s Sovereign Wealth Fund.
The country’s wheels of production came to a grinding halt in the last ten years, due to reduced local manufacturing, lack of exports, and failure to attract foreign direct investment.
reverse this trend, the Ministry of Investments Trade and Industry @MITI_ke ,has prioritized the following goals as key strategic pillars:
1. Raise manufacturing contribution to GDP from current 7% to 15% by 2027 and to 20% by 2030;
2. Increase Exports from 10% of GDP to 30% by December 2025;
3. Grow investments from current USD 500m to USD10B by December 2023.
KDC is central to this revitalisation journey. Through KDC, Debt and Equity investments will help manufacturing, support value chains and spur exports to take back the country to production.
Through KDC we can work on mechanism and framework that de-risks our investments and send clear message to foreign investors through research.
Development Partners present include EXIM Bank of India, African Guarantee fund, Selfund, Trade and Development Bank, World Bank, African Union among others partners.
Also read Netizens react to Kalonzo’s house arrest