Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The Foundation plans to invest up to Sh 15million as seed capital in each eligible start up through a convertible debt or equity instrument/FILE

Kenya

Centum to invest Sh511.3mn in startups by 2019

The Foundation plans to invest up to Sh 15million as seed capital in each eligible start up through a convertible debt or equity instrument/FILE

The Foundation plans to invest up to Sh 15million as seed capital in each eligible start up through a convertible debt or equity instrument/FILE

NAIROBI, Kenya, Jan 26- Centum Foundation is committing to invest up to Sh511 million in startups by 2019.

The Foundation plans to invest up to Sh 15million as seed capital in each eligible start up through a convertible debt or equity instrument.

Centum Group CEO James Mworia says the Foundation will also do follow on funding for businesses that qualify.

“Entrepreneurship is part of Centum’s DNA, therefore, it only made sense to use the skills we have gained over time to build great businesses and enable entrepreneurship further. We also believe that entrepreneurship has a huge impact on society by creating both direct and indirect jobs to thousands of people every year,” Mworia said.

Centum Foundation will engage partners to provide entrepreneurs with access to capital, knowledge, mentorship and business resources.

To be eligible, startups have to present their business and highlight its competitive advantage, the ability of the team, its potential market size and the innovation’s impact potential.

Through the Foundation’s mentorship program that takes place over three months, shortlisted entrepreneurs will receive guidance on preparing their pitch from members of the Centum team before presenting the business to Centum Foundation’s investment committee.

Recipients of Centum Foundation’ s investment will also have access to business trainings that guide them in running their startups effectively and shared resources which will reduce their costs. They will also benefit from Centum’s networks and relationships.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...