Industrial and Commercial Development Corporation


Industrial and Commercial Development Corporation is a Kenyan government-owned development finance institution.
ICDC is a government parastatal, whose primary objective is to facilitate the investment by Kenyans in the economy of the country, while simultaneously providing financing to Kenyan businesses and manufacturers, thus growing the local economy., the company's total assets were valued at approximately KSh.11.9 billion/=.
WWW icdc.co.ke

History

The company began its operations in 1954 as a 100% wholly owned entity of the Government of Kenya. In 1967, to allow the public to participate in the economy of newly independent Kenya, ICDC spun off an investment subsidiary which it called ICDC Investment Company Limited. In 2007, that subsidiary rebranded as Centum Investment Company Limited. Following gradual, progressive divestments by the Kenyan government, ICDC shareholding in Centum was down to just under 23%, as of March 2013.

Investment structure

ICDC is organized into three main operational divisions namely:
  • Equity Investments: Invests in profitable, well run Kenyan businesses, which may or may not be publicly traded. Assumes equity ownership positions in the businesses.
  • Loans: Makes business loans to qualifying Kenyan companies without assuming equity positions in the borrowing entities.
  • Asset Management and Advisory Services: Serves as Asset Manager and Financial Adviser to qualifying Kenyan businesses.

Investee companies

The following are some of the companies where ICDC has invested:
  • - Risk Management, Insurance
  • Centum Investment Company Limited – Investments, Real Estate – 23% shareholding
  • – Taxis for hire – 100% shareholding
  • – A development bank, which also offers commercial banking services – 89% shareholding
  • – Batteries, Skin shavers
  • Uchumi Supermarkets Limited – Supermarkets – 3% shareholding
  • Funguo Investments Limited – Investments – 100% shareholding
  • – Automobiles, Trucks, Automotive products
  • – Development Finance for Small & Medium Enterprises
  • Kenya National Trading Corporation Limited – Promotion of trade amongst Kenyan SMEs
  • – Procurement, production, packaging and marketing of wine and other beverages
  • Kisii Bottlers Limited – Coca-Cola franchise bottler
  • Mt. Kenya Bottlers Limited – Coca-Cola franchise bottler
  • Rift Valley Bottlers Limited – Coca-Cola franchise bottler
  • – Sugar manufacturing
  • – Production of alcohol, spirits and yeast

Governance

Francis Kimemia, one of the non-Executive Directors, serves as the Chairman of the ten-person Board of Directors. The Ag. Executive Director and Ag. Chief Executive Officer, is Kennedy Wanderi.