Kenya Development Corporation (KDC) plans to adopt an International Finance Corporation (IFC)-style investment model including tightening appraisal of deals and negotiating stronger governance rights as it eyes increased say in the businesses it backs.
The State-owned development finance institution has invited consultants to help design a new framework for equity and quasi-equity investments, drawing on international development finance practices such as minority shareholding, preferred shares, convertible instruments and stronger corporate governance protections.
