Thirty businesses have received Sh153 million funding from the first season of reality TV show, KCB Lions’ Den which aired on NTV.
The successful enterprises represent 42 per cent of 72 businesses that took part in the 12-series season that started in September last year. They included social enterprise Tosheka Textiles, green energy firm Bentos Energy and Mzee Amdones neem soap business.
“In line with the 2jiajiri initiative, Lions’ Den came as a response to the entrepreneurs’ call for more opportunities as more than 40 per cent of the youth in Kenya between the ages of 15 and 34 years old face unemployment,” said KCB marketing director Angela Mwirigi in a statement.
KCB Group, which is targeting SME customers, is already running the 2jiajiri Business Initiative, a Sh50 billion job creation and skills development programme where startups have a chance to get financing at a rate of 14 per cent.
The bank targets to benefit at least 500,000 youths in five years.