After more than seven years of reforms, the Treasury last year merged three State-owned development finance institutions (DFIs) — Industrial and Commercial Development Corporation (ICDC), Tourism Finance Corporation (TFC) and Industrial Development Bank Capital Ltd — to form Kenya Development Corporation.
KDC interim director-general Christopher Huka spoke to the Business Daily on why the new entity has prioritised recovery of bad loans, some dating as far back as the 1960s.
