Kenya’s chamber of commerce, E4Impact Foundation partner to fund 20 local firms

The Kenya National Chamber of Commerce and Industry (KNCCI) hosted the E4Impact Foundation, an accelerator that will fund, incubate and mentor 20 local businesses with the aim of boosting entrepreneurship in Kenya.

The E4Impact team, which was headed by the organisation’s CEO Mario Molteni met KNCCI CEO Angela Ndambuki to finalize plans ahead of signing of the MoU between the two organizations next month that will enable KNCCI members to enjoy the benefits of the programme.

(TOP: E4Impact CEO Mario Molteni – left – receives a gift pack from KNCCI CEO Angela Ndambuki after the meeting). 

“The Kenya National Chamber of Commerce and Industry being the largest business membership organization in the country is delighted to be part of this programme that will lead to a positive impact on local businesses as well as open opportunities for partnerships with Italian businesses with similar interest. The chamber has been on the front line in facilitating business linkages between local and international investors and hopes that the lucky 20 businesses will make a meaningful impact in their sectors of operation,” said Angela Ndambuki, the KNCCI CEO.

Already, the Italian Agency for Development Co-operation has disbursed €542,000 which will be channeled through the E4Impact accelerator to enable the 20 local businesses get business support, increase their revenues, receive mentoring towards profitability and impact as well as enable them partner with Italian businesses.

Whereas the programme targets all sectors it will have a preference towards the Italian preferences that are relevant for the new Kenyan “Big Four Agenda” which includes manufacturing, universal healthcare, affordable housing and food security. Therefore, the accelerator will for one-year host Kenyan businesses in the following sectors: agri-food, fashion and design, leather, machinery and equipment, construction and affordable housing, healthcare, green business and renewable energy, innovative ICT services and infrastructures.

Among benefits for the accelerated 20 companies include: one-year office space, a customized training itinerary, international and local coaching and mentorship access to professional services such as legal, accounting, communication among others. The businesses will also have access to seed grants based on milestone attainment, better relationship with potential investors and financial institutions and links to interested Italian companies for partnerships.

E4Impact has also expressed its desire to bring onboard the private sector to boost the funding to €800,000. Post revenue startups or scale ups in the formal and informal sectors registered or to be registered in Kenya can apply if they meet the requirements which include: an innovative product or service, have an existing customer base, have a team of co-founders with existing complimentary skills and have a clear social or environmental impact.

Interested businesses have until March 30, 2018 to apply.

KNCCI is a not-for- profit, autonomous private sector institution and Business Membership Organization (BMO) established in 1965. KNCCI’s principle business objectives include; lobbying for the formulation of policies that support business development, the establishment and maintenance of a business friendly legal and regulatory framework, advocacy for commerce and promotion of the welfare of the business community in Kenya. KNCCI was re-launched in 2014 and now has a countrywide outreach with 47 County Chapters whose membership constitutes the small, medium and large enterprises across different sectors of the economy.

E4impact is an initiative of ALTIS Graduate School Business and Society at Università Cattolica del Sacro Cuore
(Italy) aimed at training impact entrepreneurs in Sub-Saharan Africa. The heart of E4impact is the Global MBA in
Impact Entrepreneurship, a unique Executive MBA (dual degree – 40 classroom days only) which provides would-be,
early stage and high growth entrepreneurs with results-oriented education and interaction with the local business
community and potential investors.

Participants of the E4impact MBA acquire knowledge and skills useful to start or scale businesses and to contribute
to the sustainable development of their countries. The E4impact MBA is offered in Kenya, Ghana, Sierra Leone,
Uganda, Ivory Coast, Senegal and Tanzania.

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