Cooperation between BADEA & (HFC ltd) Cooperation between BADEA & (HFC ltd)

Cooperation between BADEA & (HFC ltd)

In the framework of mutual visits between the Arab Bank for Economic Development in Africa (BADEA) and African financial institutions working in the field of financing private sector projects, a delegation from the Housing Finance Company of Kenya (HFC Ltd), headed by H.E. Mr. Steve Mainda, Chairman of the Board of Directors and accompanied by Mr. Adan D. Mohamed, a member of the Board of Directors, and by Mr. Sam Waweru, the Managing Director, conducted an official visit to BADEA headquarters in Khartoum on Wednesday, August 8th 2018.

The delegation held official talks with H.E. Dr. Sidi Ould Tah, Director General of BADEA, during which they discussed ways of boosting cooperation between BADEA and HFC Ltd to serve the economic development objectives of Kenya.

The discussion revolved around ways to improve the Line of Credit for the benefit of HFC Ltd amounted to US $15 million, the Line of Credit plays a pivotal role in the growth of HFC’s banking and specifically in financing the working capital and expansion of the bank’s growing SME customer base.

In addition, the discussion also involved future cooperation between BADEA and HFC Ltd in the areas of economic housing, microfinance and Takaful insurance.

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