The International Finance Corporation (IFC) has acquired a 6.5 percent stake in Kenyan retailer Quickmart as a cornerstone investor in its KSh15 billion initial public offering. The investment, valued at KSh1.94 billion ($15 million), marks the IFC’s reentry into Kenya’s supermarket sector. Quickmart intends to use the capital to fund expansion, backed by a dividend policy that commits to distributing at least 80 percent of annual earnings to shareholders. The transaction signifies a broader trend of the IFC utilizing cornerstone investments to support major equity offerings across African markets.