Kenya Development Corporation expands focus to innovation, creative economy financing

The state-owned development finance institution will participate in the upcoming Africa Forward Summit 2026 scheduled for May 11–12 in Nairobi, where governments, development agencies, investors and international partners are expected to discuss financing and partnerships for innovation-driven growth across Africa.

The summit, jointly convened by the governments of Kenya and France, comes at a time when Kenya is increasingly prioritising sectors such as fintech, artificial intelligence, digital infrastructure and the creative economy as part of its broader economic transformation agenda.

Speaking ahead of the summit, KDC Director General Norah Ratemo said the corporation is shifting more attention toward financing innovation-led sectors that have traditionally struggled to access affordable credit.

“Innovation and creativity are no longer peripheral sectors; they are central to economic transformation, job creation and global competitiveness,” Ratemo said.

KDC said it is focusing on long-term financing and advisory support for enterprises operating in the digital economy, healthcare manufacturing, creative industries and emerging technologies.

The corporation’s participation at the summit is also expected to include discussions around investment in cloud computing, data infrastructure, digital payments, e-commerce and artificial intelligence, sectors that Kenya views as critical to strengthening its position as a regional technology and innovation hub.

The institution will also participate in an agricultural finance engagement organised by the African Rural and Agricultural Credit Association, where African public development banks are expected to discuss a joint framework for expanding sustainable agricultural financing across the continent.

KDC has additionally partnered in the launch of Nova Garage, an initiative aimed at supporting young entrepreneurs in the digital and creative economy through financing and technical partnerships. The platform is being convened by the French-African Foundation and Kenya’s State Department for Foreign Affairs.

The summit will also feature discussions under the Africa Initiative for Medical Access and Manufacturing, which seeks to increase investment in pharmaceutical and medical manufacturing capacity across Africa.

Kenya has in recent years intensified efforts to position itself as a leading innovation and startup destination in Africa, supported by a growing fintech sector, expanding digital infrastructure and increased interest from international investors.

However, access to financing remains a major challenge for many startups, creatives and small technology enterprises, with most commercial lenders still reluctant to fund early-stage ventures viewed as high risk.