This archive report was first published on 22 December 2019.
On December 22, 2019, the International Finance Corporation (IFC) announced a significant investment in Kenyan companies, injecting Sh13.4 billion into the local market.
According to the IFC's annual report, the global financier had invested a cumulative Sh305 billion in Kenyan firms through debt and equity during the review period, representing a 4.5 percent increase from the previous year's Sh291.7 billion.
IFC remains one of the largest foreign institutional investors in Kenya, alongside the European Investment Bank, the African Development Bank, Proparco, and KfW.
The IFC has invested in approximately 125 local firms, including Equity Bank, Kenya Tea Development Agency Holdings, and Britam Holdings, with most investments taking the form of long-term loans.
These investments have enabled companies to access relatively easier long-term finance, facilitating their growth and development.
One notable example is Equity Bank, which signed an agreement with IFC to secure a $100 million (Sh10 billion) long-term loan earlier in the year.
The loan was intended to bolster the bank's capital and increase its capacity to lend to local small and medium-sized enterprises.
