Dry Associates LTD
Fund Size: $1 billion
Description: Dry Associates was established in 1994. Over the past two decades, the Company has developed particular expertise in Corporate Finance and Private Wealth Management. Dry Associates was a pioneer in developing the now vibrant commercial paper (CP) industry in Kenya. This industry raises short term (one year or less) funding for corporations. This short term CP is less expensive than conventional commercial bank overdraft borrowing. Typically, after issuing CP for an established corporation for several years, Dry Associates will then issue longer term (two to five year maturity) debt on behalf of the corporation in the form of long term bonds.
This longer term finance may or may not eliminate the need for a CP program but most importantly puts the corporation on a stronger financial foundation than would otherwise be the case. Today, Dry Associates is a leader in all forms of corporate debt origination and is currently working with nine major Kenyan corporations to provide short and long capital for operational and expansion purposes.
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