Kenya: IFC Private Sector Engagement Kakuma

• Refugee and local entrepreneurs who want to expand or start their business;
• Social enterprises which want to start or expand their business model in Kakuma and Kalobeyei area;
• For-profit oriented private companies which want to start or expand their products and services in Kakuma and Kalobeyei area and
• 4. Entrepreneurs among the refugees and host community who will be employed by social enterprises and private companies.

1. New and already present private business companies and social enterprises in Kakuma and Kalobeyei area offer employment to refugees and the host community, create more consumption choices, and potentially reduce prices.
2. Refugee and host communities have access to self-employment and income through the establishment of own businesses.
3. Policy and advocacy has improved the business environment

Risultati principali attesi:  

• Private sector and social enterprises entry into Kakuma and Kalobeyei incentivized
• Private sector and social enterprises entry into Kakuma and Kalobeyei incentivized
• Financing for social enterprises engagement in Kakuma and Kalobeyei provided
• Capacity of local micro and medium enterprises, private sector companies and social enterprises in Kakuma and Kalobeyei provided and improved
• Understanding of business environment and regulatory framework for business and structured dialogue with relevant stakeholders (private, public) on business environment, legislation, policy, regulation

Risultati fasi precedenti:  

SDC supported a nine month inception period to usher in the challenge fund support. During this period, the international finance corporation (IFC) was able to successfully achieve the following:

• The IFC did an internal justification to invest in Kakuma. This entailed deep discussions about the viability of the idea. A positive outcome was granted, The Kakuma Kalobeyei Challenge Fund (KKCF) is the first project of IFC’s East Africa Refugee & Host Community Umbrella Program.
• Three key assesmements were launched as follows: Fragility assesment, Gender & social assesment and Environmental assesment. These assements are going to be used to steer and stragically design the planned fund. The Gender and Fragility reports have now been submited to IFC by the consultants.
• Intense follow up of the policy advocacy component of the planned challenge fund. IFC succesfully discussed and mapped out policy gaps in relation to business environment in Kakuma and Kalobeyei.This was done at Turkana county level and with the World Bank.
  
• Clarification of contractual modalities- An acceptable level of information that will accompany the main credit contract (Project Document) was agreed between donors and IFC.
• Confirmation of the agreed launch date of the challenge fund in the last quarter of the year 2019.
• Financial mobilization- IFC was able to have more partnerships and financial commitments bringing the planned challenge fund to an estimated 30 million dollars.
• Competitively tendering and recruitment of the Africa enterprise challenge fund as the main implementer of the challenge fund.

International Finance corporation (IFC)