Kua Ventures, a faith-driven investment organization, working towards accelerating the growth of faith-driven social enterprises in East Africa, has launched a call for applications for its funding opportunities. The opportunities offer entrepreneurs access to funding, mentorship and a business community.
The Funding Criteria
The call is open to East African businesses whose founders uphold Christian values and provide opportunities for job creation. In addition, interested entrepreneurs must demonstrate a need for financial and technical support to grow their businesses with an intended social impact.
Businesses that have a track record of three years and two years audited financials with an annual revenue of at least KES 5 million are encouraged to apply.
Capital, Coaching and Community
Kua Ventures seeks to invest between 10 and 20 businesses in the next coming months. Successful applicants will receive affordable capital, flexible capital and SME funding of between Ksh. 5 million and Ksh. 15 million over a period of two to five years. This capital, offered in different financial instruments, will attract a 12 percent interest.
In addition, the businesses will receive tailored coaching and mentorship from a network of local and international, professional & entrepreneur mentors. These sessions will provide the entrepreneurs with strategic support & guidance based on their unique business needs.
The support by Kua Ventures is in response to the challenges facing SMEs in Kenya. While SMEs offer more than 70 percent of employment opportunities, they have limited access to affordable capital and most lack technical expertise.
To succeed in the programme, the founder must be committed to be part of a growing community of Kua Ventures Small & Growing Businesses in the region. The platform of like-minded entrepreneurs will offer support, synergy and business growth.
Interested entrepreneurs can submit their applications through the official Kua Ventures application portal: www.kuaventures.org/funding.
Applications will be reviewed on a rolling basis up to Friday June 30, 2023.