Source: KDC
When the Association of African Development Finance Institutions (AADFI) marked its golden jubilee in Abidjan in May 2025, all eyes were on the Kenya Development Corporation (KDC). The institution emerged as one of the continent’s most celebrated DFIs, securing top honours at the AADFI Continental Awards and, just as significantly, seeing its Director General, CPA/FA Norah Ratemo, elected as East Africa Alternate to the AADFI Executive Committee. For Ratemo, serving her first term in office, this was more than a personal achievement. It was a bold signal of how KDC is reshaping the landscape of development finance—anchored on impact, inclusivity, and sustainability.
The Corporation walked away with the Exemplary Performance Award for Prudential Standards, Guidelines & Rating System (PSGRS), a recognition of its strong governance and robust risk management. It also received a Certificate of Commendation for hosting the 2024 AADFI Annual General Meetings in Nairobi, a gathering that brought the continent’s financial leaders together for peer learning and collaboration. These latest achievements build on a legacy of recognition that includes the Sustainability Standards & Certification Initiative Certificate awarded in 2021, underscoring KDC’s growing reputation as a continental standard-bearer. Back home, the accolades continued to flow, with KDC named the Overall Winner of the KEPSA Market Access Enabler Award, a nod to its success in unlocking opportunities for small and medium enterprises and expanding livelihoods across Kenya.
But it is not the trophies that define KDC’s story—it is the lives transformed. The Corporation has shown that inclusive growth is not just rhetoric but measurable impact. Nowhere is this more evident than in the Supporting Access to Finance and Enterprise Recovery (SAFER) program, a partnership with the National Treasury and the World Bank. In just its first year, SAFER disbursed KES 2.3 billion to more than 33,000 beneficiaries, catalyzing the creation of 17,000 jobs across 19 regions. Through SACCOs and community-based financial networks, the program has reached entrepreneurs who had long been locked out of mainstream credit systems. Thirty-five percent of the funds went to women-led enterprises, while 12 new financial products were introduced to better serve the unique needs of micro and small businesses. The demand remains overwhelming, with more than KES 3.15 billion in applications still under review, a testament to the hunger for accessible financing among Kenya’s grassroots entrepreneurs.
“KDC is proving that development finance done right transforms not just economies, but livelihoods—creating jobs, empowering SMEs, and shaping Africa’s future of inclusive growth.”
Even as it powers enterprise recovery, KDC is looking ahead. With the urgency of climate change at the forefront, the Corporation is laying the foundation for a Green Investment Fund targeting USD 200 million. This pioneering initiative will unlock financing for SMEs in clean energy, climate-smart agriculture, sustainable manufacturing, and other green sectors—seeding Africa’s low-carbon transition and ensuring that growth is not just rapid, but also resilient and sustainable.
KDC’s leadership is not confined to finance alone. Earlier this year, it convened the inaugural NextFrontier Africa Summit, designed to spark bold conversations on the future of DFIs and their role in economic transformation. With a modest target of 500 delegates, the Summit drew an astounding 1,300 participants, a powerful reminder that Africa’s appetite for innovation and collaboration is far greater than many imagine.
From livestock value chains under the DRIVE project to enterprise recovery through SAFER and the upcoming Green Fund, KDC is firmly advancing its mandate to catalyze enterprise growth, create jobs, and transform industries across manufacturing, tourism, healthcare, and the creative economy. These interventions are not only aligned with Kenya’s Bottom-Up Economic Transformation Agenda (BETA) but also resonate with the aspirations of Africa Agenda 2063, both of which chart a course for inclusive and sustainable growth across the continent. At the center of it all are SMEs, the real engines of livelihoods, sustainability, and long-term prosperity.
“These recognitions affirm Kenya Development Corporation’s unwavering commitment to governance, sustainability, and innovation in development finance. More importantly, they reflect our impact on enterprises that are creating jobs, expanding opportunities, and improving livelihoods for communities across Kenya and beyond,” Ratemo said.
The story of KDC is no longer just about Kenya. With its continental leadership role within AADFI, its grassroots impact through SAFER, and its bold bet on green investments, the Corporation is shaping Africa’s future of inclusive growth. It is proving, with every project financed and every job created, that development finance done right can be transformative—not in boardrooms alone, but in markets, farms, factories, and communities across the continent.