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Why local capital plays second fiddle as foreigners dominate startups’ funding
From left: Vivo Activewear CEO Wandia Gichuru; Jane Nzau, former pension administrator at CBK; BII Coverage Director of East Africa Seema Dhanani; and Kuramo Management co-CEO Shaka Kariuki.
Domestic capital pools have remained bench warmers as foreigners dominate the funding of local startups to the tune of hundreds of billions of shillings a year, minimising local influence in the growth and prosperity of emerging companies in Kenya.
Wandia Gichuru, the co-founder and CEO of Vivo Fashion Group, relied on personal savings along with funding from friends and high-net-worth individuals to get her first business off the ground.
