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.[1], the company's total assets were valued at approximately KSh.11.9 billion/= (US$138 million).[2]
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.[3]