Johannesburg, June 14, 2008—IFC,
a member of the World Bank Group, today announced that it will help Kenya’s
K-Rep Group implement a corporate HIV/AIDS program for more than 900 employees.
IFC’s $77,000 investment will be complemented by an additional $150,000
IFC provides seed funds to help select clients launch and implement workplace
and community HIV/AIDS programs, as well as measure their impacts. This
effort is led by IFC Against AIDS, an advisory services program for HIV/AIDS
With IFC’s support, K-Rep Group will implement new activities to strengthen
its workplace HIV/AIDS program and increase staff awareness of the challenges
associated with the disease. The company will also provide employees with
voluntary counseling and testing services that are anonymous and confidential,
and extend free medical care to those affected and their dependents.
“We are committed to ensuring that our employees, their families, and
the wider community are equipped to manage the dangers of HIV/AIDS,” said
Dr. Kabiru Kinyanjui, Vice Chairman of K-Rep.
“K-Rep will work with IFC to train about 60 peer educators, promote HIV/AIDS
awareness, and increase access to voluntary counseling and testing services
for all staff. Our goal is to ensure the wellness of our employees,” said
Kimanthi Mutua, Managing Director of K-Rep.
“HIV/AIDS presents major challenges for businesses in Kenya. It increases
costs and lowers productivity due to absenteeism, labor turnover, and loss
of experienced personnel,” said Jean Philippe Prosper, IFC Senior Manager
for Eastern Africa. “IFC helps businesses design and implement policies
and action plans that mitigate the impact of HIV/AIDS on their operations.”
IFC is working with 27 client companies in Africa and six in India on HIV/AIDS-related
projects that are linked to $1.1 billion in IFC investments and $18 million
in advisory services. About 3,000 HIV peer educators have been recruited
and trained. These efforts are reaching more than 100,000 employees, with
total community outreach estimated at 1.3 million people. In Kenya, IFC
is partnering with I&M Bank, Mabati Rolling Mills, Magadi Soda, Magana
Flowers, Panari Center, and Serena Hotels.
IFC, a member of the World Bank Group, fosters sustainable economic growth
in developing countries by financing private sector investment, mobilizing
private capital in local and international financial markets, and providing
advisory and risk mitigation services to businesses and governments. IFC’s
vision is that people should have the opportunity to escape poverty and
improve their lives. In FY07, IFC committed $8.2 billion and mobilized
an additional $3.9 billion through syndications and structured finance
for 299 investments in 69 developing countries. IFC also provided advisory
services in 97 countries. For more information, visit www.ifc.org.
IFC Against AIDS is a specialized program that works with client companies
to develop and implement sustainable programs for mitigating the threat
to business performance posed by HIV/AIDS. The program helps protect
people and profitability by being a risk management partner, HIV/AIDS expert,
and catalyst for action where the epidemic is threatening sustainable development.
About K-Rep Group
The K-Rep Group started in 1984, as a five-year project to address the
financial, management, and technical needs of nongovernmental organizations
involved in the micro and small enterprises development sector. From
its humble beginnings, the group has evolved into a respected multifunctional
microfinance enterprise that is poised to meet the challenges of the African
microfinance industry in the 21st century. The group comprises four subsidiary
companies: K-Rep Development Agency, K-Rep Bank Limited, K-Rep Fedha Services
Limited, and K-Rep Advisory Services Limited. For more information, visit