Information
Technology Landscape in Kenya
Information
Technology Landscape in Kenya
IT FINANCING
SOURCES FOR IT COMPANIES' CAPITAL
Industrial Development Bank (IDB)
IDB is a Government of Kenya funded financial institution. IDB offers medium and
long term loan finance, direct equity investment and guarantees for loans from
other sources. It also underwrites security issues, shares, stocks and
similar obligations:
Industrial and Commercial Development Corporation (ICDC)
ICDC has been the Government's keyconduit for joint venture investments and has
made equity investments in numerous industrial and commercial ventures along
with local and
foreign partners. ICDC offers project and commercial financing.
The Africa Growth Fund (AGF)
African Growth Fund is managed by Kenya Equity Management, an member of the
U.S. owned Equator Bank, invests in the complete range of productive businesses,
including manufacturing, agriculture, finance and service industries.
Usually, funded projects
are between $5 million and $50 million in size. Funding comes from the
U.S. Overseas Private Investment Corporation
(OPIC).
African Project Development Facility (APDF)
African Project Development Facility was established by IFC, UNDP, USAID and The
African Development Bank (AFDB). The facility supports medium-sized,
African-owned projects by offering assistance in project preparation, locating
joint venture partners and
negotiating project finance.
Industrial Promotion Services LTD. (IPS)
Industrial Promotion Service is a venture capital company owned by the Aga Khan,
IFC Washington, Kenya Commercial Bank, and a merchant bank in the U.K. IPS
offers equity investments up to 40 percent of share capital, offers loans and
management help. IPS also helps in project development and in locating sources
of technical know-how.
List of Commercial Banks
| BANK | POSTAL ADDRESS OF HEAD OFFICE |
| ABN Amro Bank | Box 30262, Fax 713391 Nairobi |
| African Mercantile Bank | Box 30090, Fax 333818 Nairobi |
| Bank of Baroda | Box 30033, Fax 333089 Nairobi |
| Consolidated Bank of Kenya | Box 51133, Fax 340213 Nairobi |
| Co-operative Bank of Kenya | Box 48231, Fax 330227 Nairobi |
| Credit Banking Corporation | Box 75501, Tel 336446 Nairobi |
| Guilders International Bank | Box 40263, Fax 230600 Nairobi |
| Kenya Commercial Bank Ltd. | Box 48400, Fax 338006 Nairobi |
| Habib Bank AG Zurich | Box 30584, Fax 218699 Nairobi |
| Middle East Bank Ltd. | Box 67437, Fax 218030 Nairobi |
Nairobi Stock Exchange
It is not clear if the Nairoabi stock exchange
is active in technology IPOs. The Nairobi Stock Exchange (NSE) is the only
licensed trading exchange in the country. It began as a private
association, however it is now a fully fledged stock market. At the moment
there are fifty six companies listed and the value of shares traded
increased from $3 million in 1995 to
$3.6 million.
As a result of the reduced prices the NSE
trading has slightly declined. NSE is completely
computerized and at the moment it is in the process of implementing electronic
central depository system (CDS). On the other hand, the NSE is still
in its infancy. The empowerment of the Capital
Markets Authority, the exchange regulator, through revised legislation in 1994
and the June 1996 budget measures aided in the growth of the exchange.
No information was found on the government providing R&D funding.
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