Connect with us

Business News

Entrepreneurs strike Sh138m deals in KCB Lions’ Den Season II

29 out 63 budding entrepreneurs clinched business deals with the highest entrepreneur receiving a whooping Ksh 40 million

Published

on

A total of 29 entrepreneurs managed to strike business deals during the KCB Lions’ Den Season Two which ended towards the close of last year.

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 episode show, a total of Ksh 138 million was pledged by the investors, the Lions, with the highest entrepreneur receiving a whooping Ksh 40 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 while expressing the Bank’s commitment towards supporting entrepreneurship.

The show is expected to go into third season this year.

Most of the businesses pitched in the show cut across various sectors of the economy including agriculture, design, education, energy, ICT, health, publishing, food & beverages, manufacturing, environment, entertainment and service.

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.

READ: Six events that shaped Kenya’s tourism sector in 2017

“KCB Bank will endeavor to continue supporting the youth as a leading financial catalyst and a mentor. As we start the new year, the youth and SMEs in general are at the core of our business. To ensure that brilliant business ideas are supported to the top level,” Ms Mwirigi added.

The Lions are renowned Kenyan business gurus who are part of the panel and evaluating the ideas before taking the decision to invest. In the season, they included Myke Rabar, CEO Homeboyz Entertainment; Darshan Chandaria, Group CEO and Director of Chandaria Industries; Olive Gachara, Founder and Publisher of Couture Magazine Africa; Kris Senanu, CEO of Blackrock Entertainment and Wandia Gichuru, Co-Founder and MD of Vivo Activewear. The five were also in season one.

KCB Lions’ Den TV show is part of the KCB Group 2Jiajiri programme expected to benefit at least 500,000 youth in a period of five years. The programme, which also encompasses a business challenge for start-ups, enable young entrepreneurs to submit their business ideas for funding.

Business Today is the leading independent online business website in Kenya. Started in 2012 by a veteran business journalist, it has a huge following both in Kenya and abroad. It covers various business and related issues. Email editor at: [email protected]

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News Updates

Economy27 mins ago

Govt to merge six financial agencies to form mega bank

According to the plan, the new agency will become a one-stop shop for loans from the Government ranging

Politics1 hour ago

Win for MCAs in fight for fat pay

They claim the salary capping has negatively affected the effective functioning of the 47 County Assemblies and County Governments

Opinion7 hours ago

Align Kenya’s political system with global standards

There is need to ensure that our system is in line with international best practice especially as they relate to...

NEWS8 hours ago

Kitui County embroiled in models ‘sex scandal’

At least 16 models have dismissed the crowning of four winners at a beauty pageant held last month

NEWS8 hours ago

Kenya not yet fully a free democracy, new report says

While a full report on the country's performance is not yet available online, a summary of the report notes that...

NEWS10 hours ago

Family of five perishes in Juja inferno

Police said a woman, three children - all aged below 10 years, and a man were found early Tuesday morning

NEWS10 hours ago

Americans urged to support conservation

Conservation of nature in many countries in Africa contributes significantly to sustainable rural community livelihoods

NEWS1 day ago

It’s business as usual, Mike Sonko says

He dismissed reports that Igathe called it quits last Friday following disagreements arising from implementation of key projects and award...

NEWS1 day ago

Police mum on theft of State House furniture

Nakuru OCPD Samuel Obara told the press that only police headquarters in Nairobi or State House spokesman Manoah Esipisu can...

NEWS1 day ago

Uncertain future for 100 police officers recalled from NTSA

The Director of Personnel at Vigilance House, the Kenya Police Service nerve centre, Boniface Maingi asked the commanders to send...

Advertisement

Trending