Made in Africa fashion brand Vivo has today joined Ibuka, Nairobi Securities Exchange’s (NSE) premium incubation and acceleration program for high-growth companies in Kenya.
The Vivo Fashion Group is the largest ladies' Made in Africa fashion brand designing and manufacturing 100 percent on the African continent.
Ibuka is a premium incubation and acceleration program established by the NSE in 2018 to support companies to reach their next stage. It prepares them to pursue equity or debt capital markets transactions in Kenya.
By joining the program the Fashion Group will be able to restructure its business in line with its short and long-term vision and strategic priorities, and position it well to pursue debt or equity capital market transactions
“The admission of Vivo onto the NSE Ibuka Program is a testament to the firm’s commitment to explore fundraising opportunities in the capital markets to enhance the company’s growth and development” said NSE vice-chairman Paul Mwai.
The firms managing director Wandia Gichuru said the brand is keen on tapping into Kenya’s capital markets for financing.
“We believe the capital markets have the ability to enable our business access cheap and long- term capital that will be critical in financing our next phase of growth as we target to become the largest ladies' fashion brand on the continent,” said Gichuru.
The program offers visibility, brand recognition and business opportunities among host companies.
Additionally, the program assists in inculcating improved corporatization, developing capabilities to access capital markets as well as providing a roadmap to long-term corporate sustainability.
VFG currently has 24 retail stores across Kenya, Rwanda and Uganda and employs over 360 employees, of which over 70 percent are women.
The group, also includes Shop Zetu, East Africa’s online fashion marketplace aims to inspire the next generation of African fashion entrepreneurs to aim high and dream big.
