Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The move comes even as SMEs in the country struggle to get past the five year mark/COURTESY

Enterprise

Wylde International launches a Sh50mn center for entrepreneurs in Kenya

The move comes even as SMEs in the country struggle to get past the five-year mark/COURTESY

NAIROBI, Kenya, 27 Feb – Wylde International has invested Sh50 million in the first one-stop-shop entrepreneurs’ Centre in the world in Nairobi dubbed SNDBX.

The center gives entrepreneurs and SMEs timely and personalized access to round the clock business growth experts to help face challenges they are experiencing.

The center is an all-access pass to more than 20 experts including finance, human resources, tax, legal, branding, marketing, debt collection, innovation, governance and risk management among others.

Speaking during the launch Wylde International Chief Executive Joram Mwinamo says the move was necessitated by the need in the market to help entrepreneurs scale up.

“An environment where ambitious entrepreneurs have a supporting cast of seasoned professionals. The SNDBX is a First of its kind in the world, developed over 10 years of working with entrepreneurs, it’s designed to ensure sustainable models for business support through a proven methodology localize for the African ecosystem,” Mwinamo added.

The move comes even as SMEs in the country struggle to get past the five-year mark.

The latest data from the Kenya National Bureau of Statistics indicate that about 400,000 SMEs close shop annually in the country with 46 percent of them dying in the first year of establishment.

Those who close attribute it to making losses, poor investment choices and market saturation.

“SNDBX will be the engine for entrepreneur growth, we plan to launch other centers in other cities in the country and replicate it regionally,” he added.

Nairobi Senator Johnson Sakaja applauded the move adding that the concept is what we need for entrepreneurs in the country 

Advertisement. Scroll to continue reading.

“We are excited that this was first launched in Nairobi County, ” he noted.

On her part, British Deputy High Commissioner Kenya Susie Kitchens says the concept is very disruptive and will go a long way in helping in building big business in Kenya and the region.

Kenya’s SME sector constitutes 98 percent of the businesses in Kenya and provides 30 percent of annual employment.

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...

Headlines

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

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...

Coronavirus

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

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...

Headlines

NAIROBI, Kenya, Mar 16 – The World Bank has given the Kenyan government USD 60 Million (Sh6.1 billion) to help combat the deadly coronavirus pandemic...