Local entrepreneurs get Sh138m worth of business deals in KCB Lions’ Den Season Two
12 months ago, 13 Jan 00:15
A total of 29 entrepreneurs managed to strike business deals during the KCB Lions’ Den Season Two. The show, which was sponsored by KCB Bank Kenya, saw at least 63 budding entrepreneurs pitch their ideas and negotiate for capital in exchange for a stake in their business. During the 13 episodes, Sh138 million was pledged by the investors, the Lions, with the highest entrepreneur receiving Sh40 million. “We believe that supporting young entrepreneurs is the best bet in securing a sustainable economic future for the country. These small enterprises are the conglomerates of the future,” said KCB Director of Marketing and Communications Angela Mwirigi. The show is expected to go into third season this year. KCB had partnered with the Standard Group for the show, whose main aim is to connect entrepreneurs with successful venture capitalists, who have already cut their teeth in the business world. The entrepreneurs are able to get financial, social and intellectual capital for their new and innovative businesses. The Lions are renowned Kenyan business gurus who are part of the panel and evaluate the ideas before making the decision to invest. The venture capitalists were Homeboyz Entertainment CEO Myke Rabar; Group CEO and Director of Chandaria Industries, Darshan Chandaria; Founder and Publisher of Couture Magazine Africa, Olive Gachara; Blackrock Entertainment CEO Kris Senanu and Co-Founder and MD of Vivo Activewear, Wandia Gichuru. KCB Lions’ Den TV show is part of the KCB Group 2Jiajiri programme expected to benefit at least 500,000 youth in 5 years.
Category: business news