In its latest investment announcement, Kua Ventures has invested Ksh. 15 million in Savannah Space, a Kenyan furniture and home decor store that links local artisans with urban markets. The investment will help Savannah Space in its growth and expansion plans.
Key to its growth plan, Savannah Space will increase its production capacity, hire more staff and increase its pool of local artisans who drive its production process.
“This investment takes Savannah Space to the next level. We will be able to meet the increased demand for our furniture and home decor products and source raw materials easily and more sustainably. We’re thrilled that this will unleash a greater impact of our business in the society by creating jobs for tens of Kenyan artisans,” said Cherie Kihato, the CEO and Founder of Savannah Space.
Photo: Savannah Space CEO & Founder Cherie Kihato (front centre) with Kua Ventures’ Executive Director Peter Fry, Investment Manager Benson Njiru, and Investment Officer Betty Nduku
“Kua Ventures is happy to support Savannah’s ongoing efforts to create employment opportunities and positively impact the community through its deliberate partnerships with local artisans. We believe our investment will unlock further growth of the enterprise, and improve economic outcomes for artisans who play a significant role in the production of Savannah’s products,” said Madalena Santos, Kua Ventures’ Operations Director.
Founded in 2018 by Cherie Kihato, Savannah Space manufactures high-quality, unique and innovative furniture and decor. The enterprise works with local artisans to make tables, beds, desks, rugs, baskets and candles, among other wood products which are supplied to homes and businesses, ultimately providing the artisans a means to their livelihood.
In 2019, Cherie enrolled in an accelerator program organized by our partner, Sinapis and emerged the winner of the 2019 Sinapis Business Competition, further fueling her dreams for Savannah Space.
Savannah Space becomes the first furniture store in Kenya to receive Kua Ventures’ capital investment, and the 22nd local enterprise to join the Kua Ventures portfolio since 2020. This follows Kua Ventures’ investment of Ksh. 12 million in candy manufacturer Pellaca Brands in December 2023.
Within the Kua Ventures portfolio, Savannah Space’s founder Cherie Kihato will benefit from coaching in the form of one-on-one mentorship by seasoned local and international entrepreneurs, in addition to joining a Christian community of entrepreneurs who are creating a positive change in the society.