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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 from K-Rep.
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 and health.
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.
About IFC
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
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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
www.k-rep.org
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