Overseas Private Investment Corporation’s (OPIC) Director of Project Finance Mr. Iman Kennerly made a maximum offer of $250 million for Project Finance for project interested to be financed as he presented at the OPIC Expanding Horizon workshop and DIAspora Investment forum for East Africa held at Boston City. Dr. Wilson Endege who was attending the workshop was excited to hear this and opened discussions as he looked toward developing more finance resources for Kenya University Project (KUP.) Dr. Endege said, “This finance will enable Diaspora participate in development of Kenya.”
Kenya University Project that currently has close to 500 Kenyans involved and growing is an Institution Town planned development led by Diaspora. The project looks to achieve housing, education and healthcare as Kenya population increases from the current estimated 44 million to 60 million by 2030.
Dr. Endege was also happy to learn that Mr. Kennerly is a member of OPIC’s Housing and Real Estate Finance Team, primarily focused on Africa, the Middle East, and Asia who has experience in a wide range of sectors such as commercial real estate, energy, housing, education, agriculture, hotels, retail, and financial services.
Dr. Endege also opened talks with OPIC director of corporate development Ms Alison Germak. Following the exciting meeting and talks with OPIC and other persons Dr. Endege said, “The finance offer is achievable and will make it possible for KUP property developers to supply new houses in well-planned settlement with goal of reducing slums and environment damage as Kenya population increases.”
Dr. Endege also opened talks with Kenya Commercial Bank CEO Joshua Oigara who was in the Diaspora Investment Alliance and showcased KCB financial products. Dr. Endege in opening the discussion made a proposition of Bank financing for KUP property developers. He said, “I’m happy KCB Bank is coming with new innovative ways to finance Kenya growth.”
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