The Kenya Development Corporation (KDC) has partnered with the tourism sector to offer financing, business support and advisory services.
Players in the sector will get loans from Sh7.2 million ($50,000), machinery from India and investment opportunities, including job creation.
“The financial products and services we are offering will encompass a wide spectrum of business requirements, including the provision of working capital support where investors will have access to financial assistance to manage their day-to-day operations efficiently, ensuring smooth functioning and sustained growth,” said Ms Judith Omachar, KDC director for investments during the Kenya Parks Investment Forum 2023.
“We also support technology transfer from India to Kenya by facilitating the purchase of plant machinery and equipment from India. With this line of business, we offer a minimum loan amount of Sh7.2 million ($50,000) of up to 100 percent cost and freight financing of the equipment value. ”
Tourism Cabinet Secretary Peninah Malonza welcomed the move and pledged State support to boost the industry. “The government is committed to diverse tourism development initiatives, aiming to stimulate investment, job growth, consumer spending, tax revenue and gross domestic product, she said.”
