Misplaced Pages

Industrial and Commercial Development Corporation

Company type	Parastatal
Industry	Financial services
Founded	1954; 70 years ago (1954)
Headquarters	Nairobi, Kenya
Key people	Francis Kimemia (Chairman), Kennedy Wanderi (Executive Director)
Products	Investments, Equity Partnerships, Financial Advisory Services, Management Services, Export/Import Finance
Revenue	Aftertax:KSh.1.74 billion/= (US$20.3 million) (2010)
Total assets	KSh.11.9 billion/= (US$138 million) (2010)
Owner	Government of Kenya
Website	www.icdc.co.ke

Industrial and Commercial Development Corporation (ICDC) 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. As of June 2010, the company's total assets were valued at approximately KSh.11.9 billion/= (US$138 million).

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

This section does not cite any sources. Please help improve this section by adding citations to reliable sources. Unsourced material may be challenged and removed. (May 2024) (Learn how and when to remove this message)

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:

• AON Minet Insurance Brokers Limited - Risk Management, Insurance
• Centum Investment Company Limited – Investments, Real Estate – 23% shareholding
• KENATCO Taxis Limited – Taxis for hire – 100% shareholding
• Development Bank of Kenya – A development bank, which also offers commercial banking services – 89% shareholding
• Eveready East Africa Limited – Batteries, Skin shavers
• Uchumi Supermarkets Limited – Supermarkets – 3% shareholding
• Funguo Investments Limited – Investments – 100% shareholding
• General Motors East Africa Limited – Automobiles, Trucks, Automotive products
• IDB Capital Limited – Development Finance for Small & Medium Enterprises (SMEs)
• Kenya National Trading Corporation Limited – Promotion of trade amongst Kenyan SMEs
• Kenya Wine Agencies Limited (KWAL) – 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
• South Nyanza Sugar Company Limited – Sugar manufacturing
• Agro-Chemical and Food Company Limited (ACFC) – 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.

See also

• Centum Investment Company Limited
• Economy of Kenya
• Development Bank of Kenya
• Uchumi
• Nairobi

References

1. "Overview of ICDC" (PDF). Archived from the original (PDF) on 2013-09-21. Retrieved 2013-09-20.
2. "Audited 30 June 2010 Financial Report". Archived from the original on 21 September 2013. Retrieved 20 September 2013.
3. "Shareholding In Centum Investments Company In March 2013". Archived from the original on 2013-09-21. Retrieved 2013-09-21.
4. "Companies Where ICDC Is Invested In September 2013". Archived from the original on 2013-09-21. Retrieved 2013-09-21.
5. "Board of Directors of ICDC". Archived from the original on 2013-09-21. Retrieved 2013-09-21.

v t e Nairobi, Kenya
Buildings Economy Education Government County governor History Timeline Media People Sport Transport
Neighbourhoods	Bahati Buruburu Dagoretti Dandora Donholm Eastleigh Embakasi Gigiri Githurai 44 Highridge Highrise Hurlingham Huruma Imara Daima Jericho Lang'ata Lavington Loresho Lucky Summer Kahawa Kaloleni Kamulu Kangemi Karen Kariobangi Kasarani Kawangware Kayole Kiambiu Kibera Kileleshwa Kilimani Kitisuru Komarock Korogocho Kwa Njenga Kware Kyuna Madaraka Majengo Makadara Makongeni Marurui Mathare Matopeni Mihang'o Mountain View Mowlem Mugumo-ini Mukuru Muirigo Muthaiga Muthangari Mutu-ini Mwiki Nairobi West Ng'ando Ngara Njiru Nyayo Ofafa Pangani Parklands Pipeline Pumwani Riruta Roysambu Ruai Ruaraka Runda Sarang'ombe Shauri Moyo South B South C Spring Valley Starehe Thome Umoja Upper Hill Utawala Uthiru Waithaka Westlands Woodley Viwandani Zimmerman Ziwani
County divisions	Central Dagoretti Embakasi Kasarani Kibera Makadara Pumwani Westlands
Transport	Jomo Kenyatta International Airport Mombasa–Nairobi Railway
Education	Tertiary University of Nairobi Kenyatta University Strathmore University Business School Law School Daystar University United States International University Africa Primary/ secondary see template
Landmarks	KICC Nairobi National Museum Times Tower Uhuru Park
Nairobi at Wikimedia Commons . Kenya portal

v t e Economy of Kenya
Currency	Kenyan shilling (KES) Central Bank of Kenya
History	Kenya Economic Stimulus Programme History of trade Corruption
Industry and business	Agriculture Automotive industry Beer Coffee Sugar Energy Real estate Tourism
Government agencies	The Treasury Kenya Revenue Authority NOCK KenGen Kenya Ports Authority KPC Kenya Railways Corporation
Companies and counties	Companies Bamburi Cement Kenya Airways East African Breweries Counties
Transport and Infrastructure	Airports Roads Railway Thika Road Mombasa Port Jomo Kenyatta International Airport
Communications	Mobile networks Safaricom Airtel Kenya Telkom Kenya Submarine cables SEACOM EASSy TEAMS
Finance and banking	Nairobi Securities Exchange Traded companies Accounting Banks Insurance
Economic blocs	East African Community COMESA CEN-SAD AGOA
Energy	Geothermal power Hydro power Nuclear Petroleum Renewable energy Solar power Wind power
Future	Kenya Vision 2030 Konza Technopolis Lamu Port and Lamu-Southern Sudan-Ethiopia Transport Corridor

• Government-owned companies of Kenya
• 1954 establishments in Kenya
• Financial services companies established in 1954
• Companies based in Nairobi
• Financial services companies of Kenya