NAIROBI, (CAJ News) – KENYA Commercial Bank (KCB) has invested more than Ksh 150 million (over US$1,4 million) in local businesses through the first season of its award-winning, Japan-inspired business reality show.
Dubbed KCB Lions’ Den, the show came through the 2jiajiri initiative of KCB which aims to tackle the unemployment scourge facing the youth in Kenya.
The first season of the 72 local businesses were represented on the show for a period of 12 weeks and 30 lucky entrepreneurs were able to convince the five celebrated Lions in the Den: Kris Senanu, Wandia Gichuru, Darshan Chandaria, Olive Gachara and Myke Rabar, to invest their own money in exchange for equity in the local business.
Total amount invested in Season 1 of the Lions’ Den was Ksh 153,3 million.
KCB Marketing Director, Angela Mwirigi, said KCB Bank celebrated local entrepreneurship milestones.
She said in line with the 2jiajiri initiative, Lions’ Den came as a response to the entrepreneurs’ call for more opportunities as more than 40 percent of the youth in Kenya between the ages of 15 and 34 years old face unemployment.
“KCB Bank believes in entrepreneurship as a solution to the high unemployment rates in the country and we seek to come up with innovative platforms such as Lions’ Den to curb this menace,” said Mwirigi.
As an adaptation of the globally acclaimed Dragons’ Den, Quite Bright Films (QBF) produced Lions’ Den in collaboration with Sony Pictures International for the Kenyan market.
The first of its kind in Kenya, Lions’ Den is a variation of the original show that was first aired in Japan and has now been produced in over 30 countries.
KCB Bank is working at the show’s second season.
Applications open in March.
– CAJ News