Industrial and Commercial Development Corporation
| Parastatal | |
| Industry | Finance |
| Founded | 1954 |
| Headquarters | Uchumi House Aga Khan Walk Nairobi, Kenya |
|
Key people
|
Francis Kimemia Chairman Kennedy Wanderi Ag. Executive Director |
| Products | Investments, Equity Partnerships, Financial Advisory Services, Management Services, Export/Import Finance |
| Revenue |
 Aftertax:US$20.3 million (KES:1.74 billion) (2010) |
| Total assets | US$138 million (KES:11.9 billion) (2010) |
| Owner | Government of Kenya |
| Website | Homepage |
Industrial and Commercial Development Corporation (ICDC) is a government-owned development finance and investment company in Kenya.
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[update], the company's total assets were valued at approximately US$138 million (KES:11.9 billion).
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.
ICDC is organized into three main operational divisions namely:
The following are some of the companies where ICDC is currently invested:
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.
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