Entrepreneurs in the Housing Sector have a chance to scale their businesses and attract investor funding through the Young Ventures Accelerator Program in Affordable Housing Supported by the German Agency for International Cooperation (GIZ).
The program, which is being run by Pangea Accelerator in partnership with Integration Consulting Group and Afroscope Consulting, seeks to find, train and support 25 Entrepreneurs operating within a 70-kilometre radius of the Nairobi Metropolitan.
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The business owners will be nurtured through business and operational capacity building, mentorship, investor readiness, and linking to funding opportunities.
With most entrepreneurs limited to loans as funding for their businesses, Pangea Accelerator has been on a journey to unlock African businesses for investor funding.
“According to them, investors do want to invest in African businesses but lack trust as they are not in a position to do due diligence or de-risk the businesses.
“It is through such accelerator programs that Pangea has been able to not only do due diligence but also mentor businesses into investor-readiness and attract and get funding,” a press release seen by Viral Tea read in part.
The Young Ventures Accelerator Program in Affordable Housing is under GIZ’s bigger programme for the Promotion of Self Employment and Entrepreneurship in Kenya.
It is also anchored on the need to provide solutions for housing, especially for the urban population whose growth is reported to be at 4 per cent.
The housing sector in Kenya is reported to be at a deficit of 200,000 housing units against the huge demand, and only 50,000 housing units per annum are produced by the private sector.
Architects, contractors, manufacturers, technicians, interior designers and any other business owners in the housing sector are encouraged to join the program by applying on Pangea Accelerator’s Website before May 23, 2022.