Sharp Daily
No Result
View All Result
Friday, October 31, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

EPZ Secures a Ksh2.7 bn Loan For Expansion

Benson Muriithi by Benson Muriithi
April 18, 2023
in News
Reading Time: 1 min read
Photo/Courtesy

Photo/Courtesy

Hela Investment Holding (HIH), a clothing manufacturing firm operating in Kenya’s export processing zone (EPZ), has secured a Ksh 5.38billion (USD 40 million) investment deal from International Finance Corporation (IFC) to finance its operations. The IFC will finance HIH through a Ksh 2.69 bn (USD 20 million) loan as part of the deal.

HIH plans to use the loan to finance the long-term working capital requirement of the Hela Group and support the growth of its manufacturing operations in Kenya, Egypt, and Sri Lanka.

The IFC funding comes after Norfund signed a Ksh 1.88 bn (USD 14) million financing agreement with Hela Apparel Holdings PLC to boost its manufacturing operations in East Africa. The Hela Group operates six manufacturing facilities in Sri Lanka, and its facility located in the Mawathagama EPZ will be the primary beneficiary of the IFC loan.

Read: Nigerian Mobility Startup Treepz Taps Kenyan Market

RELATEDPOSTS

How AGOA and EPZs can transform Kenya’s trade

May 14, 2025

IMF scales back Kenya support with cautious KES 78 billion loan

October 31, 2024

The Hela Group’s Kenyan manufacturing facility is located within the EPZ in Athi-River, and it employs over 4,000 people. Most EPZ firms in Kenya are in textiles and apparel and export to the US under the quota- and duty-free Growth and Opportunity Act.

EPZ firms are granted perpetual exemption from payment of stamp duty on legal instruments as well as payment of value-added tax and customs import duty on inputs. Kenya had 153 EPZ firms by June 2022, up from 144 the previous year.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Treasury Hunts for A Lead Manager for New Eurobond

Next Post

Kenya’s Vintage Cars Woo World’s Richest Individuals

Benson Muriithi

Benson Muriithi

Related Posts

News

Domestic investors drive NSE recovery as foreign activity slows

October 30, 2025
News

ICPAK introduces UDIN system to enhance audit integrity and public trust

October 30, 2025
News

Who Should Invest in a Money Market Fund

October 29, 2025
News

Eastern Africa’s unified spectrum strategy to boost broadband

October 27, 2025
News

Start Q4 strong with the Cytonn Money Market Fund

October 9, 2025
News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025

LATEST STORIES

How can Kenya ease energy costs for vulnerable households

October 30, 2025

Domestic investors drive NSE recovery as foreign activity slows

October 30, 2025

Kenya’s “too stable” shilling: Market confidence or policy management?

October 30, 2025

ICPAK introduces UDIN system to enhance audit integrity and public trust

October 30, 2025

SASRA warns auditors over SACCO reporting failures

October 30, 2025

Kenya’s Sovereign Wealth Fund: A new path to sustainable growth and fiscal stability

October 30, 2025

Why saving in a money market fund beats a regular bank account

October 30, 2025
Trucks crossing the Namanga border between Kenya and Tanzania

Tanzania Elections 2025: How Political Outcomes Could Affect Kenyan Trade and Travel

October 30, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024