IFC bets billions on Kenya’s private firms

The International Finance Corporation (IFC) has invested Sh17.7 billion in two Kenyan companies in the first two months of the year. The World Bank's private sector lending arm says the two investments have pushed the cumulative value of its presence in Kenya, including pending commitments and exits, to $1.9 billion (Sh194.6 billion). The latest investment commitments include a Sh15.2 billion loan to Co-op Bank and a Sh2.7 billion debt and equity investment in a hospital to be built on Nairobi's Kiambu Road.