Nairobi, Feb. 2 -- Flower farm Star Bright Holdings is set to receive a €11 million (Sh1.6 billion) loan from the International Finance Corporation to fund additional investments in its farms in Kenya and Ethiopia.

The Mauritius-based company has 10 flower farms in the two countries - seven in Kenya and three in Ethiopia. The multinational will plant flowers on an additional 50 acres in Nakuru County as part of the expansion.

The loan from IFC will help the multinational fund a total new capital expenditure of €15.4 million (Sh2.3 billion).

The company will set up greenhouses, expand packing houses, establish a propagation facility and install hail nets.

The loan will also support the group, which specialises in production...