{"id":254,"date":"2018-09-30T10:54:00","date_gmt":"2018-09-30T10:54:00","guid":{"rendered":"http:\/\/thefreezoneblog.com\/blog\/2018\/09\/30\/ifc-doubles-investment-in-kenya\/"},"modified":"2018-09-30T10:54:00","modified_gmt":"2018-09-30T10:54:00","slug":"ifc-doubles-investment-in-kenya","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/ifc-doubles-investment-in-kenya\/","title":{"rendered":"IFC doubles investment in Kenya"},"content":{"rendered":"
\n<\/div>\n
\n<\/a><\/div>\n
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\nWorld Bank\u2019s private sector lending arm IFC has invested Sh20 billion in the financial year ending June 30, 2018 while projecting its total portfolio to over Sh100 billion in Kenya.<\/u><\/u><\/div>\n
\n<\/div>\n
\nIt has again announced plans to double its investment to Kenya\u2019s private sector before or within the end of 2018 to Over Sh 40 billion.<\/u><\/u><\/div>\n
\n<\/div>\n
\n\u201cWhen I look at our headroom in Kenya, we are constrained by our ability to make new investments. If we find Sh50 billion of new investment we will do it,\u201d IFC regional director for Africa Cheikh Seydi said.<\/u><\/u><\/div>\n
\n<\/div>\n
\nHe said If their pipeline of investments fall within the fiscal year, they will be booked regardless of whether they were projected or not.<\/u><\/u><\/div>\n
\n<\/div>\n
\n\u201cIt could be more than the Sh20 billion.\u201d<\/u><\/u><\/div>\n
\n<\/div>\n
\nA look at IFC\u2019s projects for Kenya shows that it invested at least Sh120 million to entrepreneurs in the Kenya SMEs roads program and Sh100 million in horticulture sector through Subati Group.<\/u><\/u><\/div>\n
\n<\/div>\n
\nIn addition, IFC pumped Sh30 million in the pharmaceutical sector by investing in Good Life Pharmacy and Sh15 billion in Cooperative banks to support SMEs.<\/u><\/u><\/div>\n
\n<\/div>\n
\nSpeaking during the release of its Sub Saharan Africa fiscal year results ending June 30, IFC vice president for middle East and Africa Sergio Pimenta said governments like Kenya can no longer overcome development challenges without increasing support from the private sector.<\/u><\/u><\/div>\n
\n<\/div>\n
\n\u201cOur strategy aims to mobilize private capital in low income and fragile states. we are developing new tools to help us reduce commercial risks and encourage more investors,\u201d he said.<\/u><\/u><\/div>\n
\n<\/div>\n
\nIFC announced a record new investment commitment of Sh62 billion in long-term financing in the region.<\/u><\/u><\/div>\n
\n<\/div>\n
\nThe investment is an increase from Sh35 billion in the previous fiscal year and accounted for more than a quarter of IFC\u2019s Sh230 billion in global long-term financing.<\/u><\/u><\/div>\n
\n<\/div>\n
\nAdvisory services accounted for Sh40 billion of the investments during the year.<\/u><\/u><\/div>\n
\n<\/div>\n
\nIFC financial institution\u2019s clients provided more than 2.9 million loans to micro-enterprises and small and medium businesses.<\/u><\/u><\/div>\n
\n<\/div>\n
\nThe corporation supports at least 18 financial Institutions in Kenya. IFC\u2019s commitments in Sub-Saharan Africa included Sh150 billion in long-term financing for IFC\u2019s own account.<\/u><\/u><\/div>\n
\n<\/div>\n
\nIFC mobilised another Sh470 billion from other investors in core mobilizations, supporting projects in infrastructure and natural resources (Sh350 billion); manufacturing, agribusiness and services (Sh120 billion); financial institutions (Sh110 billion) and telecoms, media and technologies<\/u><\/u><\/div>\n
\n                              <\/u><\/u><\/div>\n
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\n<\/div>\n
\nSource: The Star<\/u><\/u><\/b><\/div>\n
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\n<\/div>\n

<\/p>\n

\nhttps:\/\/www.the-star.co.ke\/news\/2018\/09\/29\/world-bank-to-raise-sme-credit-for-new-investment-projects_c1826723<\/a><\/u><\/u><\/b><\/div>\n","protected":false},"excerpt":{"rendered":"

World Bank\u2019s private sector lending arm IFC has invested Sh20 billion in the financial year ending June 30, 2018 while projecting its total portfolio to over Sh100 billion in Kenya. It has again announced plans to double its investment to Kenya\u2019s private sector before or within the end of 2018 to Over Sh 40 billion. […]<\/p>\n","protected":false},"author":1,"featured_media":1240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[66],"class_list":["post-254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-investment","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\nIFC doubles investment in Kenya - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/ifc-doubles-investment-in-kenya\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFC doubles investment in Kenya - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"World Bank\u2019s private sector lending arm IFC has invested Sh20 billion in the financial year ending June 30, 2018 while projecting its total portfolio to over Sh100 billion in Kenya. 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