Wednesday, May 25, 2022

Support for Startup Businesses in the Affordable Housing Sector

Affordable Housing: 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 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 70km radius of Nairobi Metropolitan.

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.

227 Kibaki housing projects worth Sh. 16bn that have stalled since 2014

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 to attract and get funding.

The Young Ventures Accelerator Program in Affordable Housing is under GIZ’s bigger programme for Promotion of Self Employment and Entrepreneurship in Kenya and is also anchored on the need to provide solutions for housing, especially for the urban population whose growth is reported to be at 4%.

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 this program by applying on Pangea Accelerator’s Website before 23rd May 2022.

About Pangea Accelarator

Pangea is a Norwegian based accelerator program and an investment platform that matches African startups with investors. The accelerator creates an enabling environment, where African entrepreneurs can develop competence, access relevant network and capital in order to reach their full potential.

What We Do

Pangea is an accelerator program and an investment platform that matches African startups with investors. We create an enabling environment, where African entrepreneurs can develop competence, access relevant network and capital in order to reach their full potential.

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