KCB’s Lions’ Den programme offers entrepreneurs opportunities to grow businesses

NAIROBI, KENYA: Kenya Commercial Bank (KCB) is now receiving applications for the third season of Lions’ Den in which entrepreneurs are given opportunities to grow their businesses.

The 13-week process opened on Monday and will close on May 14, as the bank seeks to sharpen and promote the next crop of budding entrepreneurs in a show that airs on Standard Group’s KTN.

“We aspire to see many entrepreneurs get the support they need not only in financing their business but also mentorship. We also desire to support numerous viable ideas become real businesses,” said KCB Group Marketing and Communications Director, Angela Mwirigi

The show dubbed ‘KCB Lions’ Den’  allows local start-ups to pitch their business ideas to top investors and seek financing and mentorship in exchange of stake in their companies, effectively helping them catapult their enterprises to the next level.

The past two seasons have seen 59 entrepreneurs receive capital pledges of Sh291 million from the top investors, with one business getting Sh40 million. The number of applicants also increased from 5,000 in the first season to over 6,500 in the second season.

KCB Lions’ Den is in line with KCB Group 2jiajiri initiative that seeks to create job opportunities for the youth as well as up skill them for self-employment while at the same time provide training, funding, market place and mentorship for future entrepreneurs.

The initiative aims at empowering 10,000 youth every year to start small businesses for the next five years, which is projected to create 50,000 direct jobs and at least 250,000 indirect jobs during the period.