IFC to Assist Smaller Oil Firms Secure Oil and Gas Contracts in Kenya

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International Finance Corporation (IFC) is implementing a six-year project to help small firms in Kenya win contracts in the oil, gas and other sectors, Business Daily Africa has reported.

The funding for the project dubbed Kenya Local Economic Development Project (LED-Kenya) started in September last year but IFC made the disclosure this month without indicating the amount it will spend in the initiative.

IFC says the project will run up to June 2023 with a focus on strengthening local firms’ capacity and the business environment in communities impacted by oil, gas, mining and infrastructure investments in Kenya.

The project is split into three phases with the first one being to “enhance opportunities for local businesses to participate in the supply chains of multinational firms by improving access to information along with improving local firm capacity to meet standards and international requirements.”

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