NAIROBI, Kenya, 12 May – Entrepreneurs in the housing sector have the opportunity to grow their businesses and attract funding from investors through the GIZ-supported Affordable Housing Startup Acceleration Programme.
The program, which is managed by Pangea Accelerator in partnership with Integration Consulting Group and Afroscope Consulting, aims to find, train and support 25 entrepreneurs operating within a 70 km radius of Nairobi Metropolitan.
Business owners will be supported through business and operational capacity building, mentorship, investor readiness and connection to funding opportunities.
With most entrepreneurs limited to loans to fund their businesses, Pangea Accelerator has embarked on a journey to unlock African businesses for investor funding. According to them, investors want to invest in African companies but lack confidence because they are unable to do due diligence or reduce business risk.
It is through such acceleration programs that Pangea has been able to not only perform due diligence, but also mentor companies in preparing investors and attracting and obtaining financing.
The Young Ventures Accelerator in Affordable Housing program is part of GIZ’s larger program for promoting self-employment and entrepreneurship in Kenya and is also rooted in the need to provide housing solutions, particularly for the urban population whose growth would be 4%.
The housing sector in Kenya is said to be short of 200,000 homes against the huge demand, and only 50,000 homes a year are produced by the private sector.
Architects, contractors, fabricators, technicians, interior designers and any other business owners in the housing industry are encouraged to join this program by applying on the Pangea Accelerator website by May 23, 2022.