23/02/2021 - 10:37
News stories
The European Union Delegation to Kenya has signed its 4.85 million EUR / 640 million KES contribution to the Kakuma Kalobeyei Challenge Fund (KKCF), which is managed by IFC, a member of the World Bank Group. Among other outcomes, the KKCF aims to support the creation of at least 1,500 jobs and improve access to essential goods and services for 50,000 people by 2024.
Refugee camps, such as the Kakuma refugee camp and Kalobeyei settlement in Turkana West in Kenya are not usually associated with a vivid business environment and private sector investment. The KKCF – Kakuma Kalobeyei Challenge Fund, an initiative by IFC in Kenya, is set to change this. This idea was developed after a study conducted in 2018 found that both Kakuma and Kalobeyei represent a significant market. In fact, there are already more than 2,000 businesses, including 14 wholesalers present in Kakuma. The KKCF will leverage on this but provide additional support to the area to become a more thriving business centre, supporting both refugees and host communities.