KDC Unveils KES 500M SACCO Fund, Hands KES 57M Dividend to Treasury

By Eunice WAWUDA

Kenya Development Corporation (KDC) has reaffirmed its leadership in the national development finance space with the announcement of a KES 500 million SACCO lending facility and the remittance of a KES 57 million dividend to the National Treasury.

These key milestones were unveiled at the Next Frontier Africa 2025 Summit, a high-level event hosted by KDC at the Kenyatta International Convention Centre (KICC) in Nairobi.

The three-day Summit, themed Catalyzing Inclusive Growth through Strategic Sector Investments and Innovation, brought together more than 700 stakeholders from the public and private sectors. The event focused on reshaping Africa’s investment ecosystem through inclusive finance, innovation, and strategic capital deployment.

Dr. Albert Mwenda, Director General of Budget, Fiscal and Economic Affairs at the National Treasury, received the dividend cheque on behalf of the Government and commended KDC for delivering both financial returns and development impact. “This dividend reflects not only financial growth but also developmental impact. KDC is demonstrating that development finance can be both commercially sound and socially responsive, channeling capital to sectors that matter most to our future,” said Dr. Mwenda.

A major announcement during the Summit was the signing of a KES 500 million financing agreement between KDC and Boresha SACCO, under the SAFER (SACCO Financial Empowerment and Recovery) Programme. The fund will be on-lent to micro, small, and medium enterprises (MSMEs), especially those still recovering from the economic impacts of the COVID-19 pandemic. The move is expected to boost access to affordable credit in marginalized regions and promote broader financial inclusion.

Patrick Kilemi, Principal Secretary in the State Department for Cooperatives, praised the initiative and the broader role of SACCOs in advancing financial empowerment. “SACCOs like Boresha are transforming financial access for ordinary Kenyans. With strategic support from institutions like KDC, we are embedding cooperatives into the national recovery agenda, empowering communities and building economic resilience from the ground up,” he said.

The Summit also hosted multiple sector-focused forums addressing investment opportunities in areas such as manufacturing, healthcare, climate resilience, tourism, and the digital and creative economy. These sessions encouraged dialogue among stakeholders to unlock value chains, encourage innovation, and mobilize private and public capital for transformative growth across Africa.

KDC Board Chairman Dr. Sakwa J. Bunyasi emphasized the Corporation’s commitment to financing innovation and youth-led enterprises. “We must fund what matters, solutions that address climate change, generate decent jobs, and build regional competitiveness. KDC is boldly stepping into that space,” Bunyasi stated.

CPA/FA Norah Ratemo, Director General of KDC, echoed the sentiment and reaffirmed the organization’s role in leading Africa’s new development finance approach. “This Summit has given voice to a new kind of development finance, one that is inclusive, strategic and future ready. At KDC, we are deploying capital to sectors that unlock value chains, empower communities and create resilient livelihoods. From SACCOs to tech startups, from agribusiness to creative hubs, we are financing the next frontier of Africa’s growth,” said Ratemo.

She further noted that the Summit’s goals align with Kenya’s Bottom-Up Economic Transformation Agenda (BETA), Vision 2030, and the African Union’s Agenda 2063. Ratemo emphasized that KDC will continue collaborating with government, private investors, and development partners to scale impactful finance. “This is not just an event. It is the beginning of a movement to make capital more accessible, inclusive and impactful by design. We are just getting started,” she concluded.