NAIROBI, Kenya, Oct 18 – Vivo Fashion Group Limited has joined the Nairobi Securities Exchange (NSE) Ibuka Program, a premium incubation and acceleration platform for high-growth companies in Kenya.
The Kenyan-founded brand, which was started in 2011, is a fashion brand for women and men.
It currently operates 24 retail stores across Kenya, Rwanda, and Uganda and employs over 360 employees, of whom over 70 percent are women.
The group, which also includes Shop Zetu, East Africa’s fastest-growing online fashion marketplace, aims to inspire the next generation of African fashion entrepreneurs to aim high and dream big.
Shop Zetu hosts over 350 international and local fashion, beauty, and accessory brands.
“The admission of Vivo Fashion Group Limited 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,” Paul Mwai, NSE vice chairman, said.
“The Ibuka Program will enable Vivo Fashion Group restructure its business in line with its short and long-term vision and strategic priorities, thus positioning it well to pursue debt or equity capital market transactions,” he added.
The Ibuka Program also assists in inculcating improved corporatization, developing capabilities to access capital markets, and providing a roadmap to long-term corporate sustainability.
“We believe the capital markets have the ability to enable our business access cheap and longterm 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,” Vivo Fashion Group Managing Director Wandia Gichuru stated.
