The NIFC is East Africa’s leading financial hub, providing an efficient gateway for investors and businesses to access 54 African countries, 1.3 billion people and a combined GDP of $3.4 trillion.
The Centre will target global and regional businesses that provide large pools of capital, drive innovation and are committed to sustainable growth. This includes investment funds like private equity and venture capital funds, asset managers, insurance companies and financial services firms, especially those focusing on fintech and green finance.
It will also seek to attract companies that seek to expand operations within the Sub-Saharan region and encourage collaboration between local and international players.
The NIFC is a key pillar of Kenya’s Vision 2030, a national socio-economic blueprint launched in 2008 with the aim to transform Kenya into a middle-income country by 2030 and position Nairobi as Africa’s leading investment destination.
- Providing access to long-term private sector financing for key projects and industries such as infrastructure, manufacturing, housing, energy, etc.;
- Increasing availability of and access to more affordable finance and investments to facilitate business activities and expansion plans, spurring greater economic activity and hence revenues; and
- Supporting innovation in the financial sector by enabling a conducive operating environment and by strengthening the position of the financial centre; and
- Increase the employment opportunities and quality of skills available in the sector
The Nairobi International Financial Centre Act was passed in 2017, enabling the formation of the NIFC Authority. The initial framework has been completed and more work will continue to be done to ensure the operating environment continues to be attractive as the financial hub for Sub-Saharan Africa. The NIFC aims to raise over $2 billion in targeted incremental cumulative investments by 2030.
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