Fundimjanja Bought Out by Investor
Fundimjanja was recently acquired by an investor courtesy of the ShelterTech Accelerator program. The partnership was borne from a ShelterTech Accelerator networking session. Having been in operation for the last seven years providing a platform for supplying building materials to hardware stores across Nairobi and a client base of 250 service providers and a total of 100 transactions, the future was bright.
According to the founder, Eric Kahiga, the investor had the capacity and manpower to integrate the product into their value chain. He also added that he felt the investors respected and valued the skill sets his team brought to the project.
So, what happens next?
Eric and his team have been absorbed into the new company. He adds, “once a founder, always a founder.” He is keeping his ear on the ground for the next idea bug.
Gjenge Makers awarded US$15,000 grant
Gjenge Makers Entreprises have added another feather to their cup. Gjenge have received a US$15,000 grant, in what Cardi B would consider “making money moves.” The CEO, Nzambi Matee plans to use the grant to expand production capacity. The company is using up cycling to turn plastic waste into pavement blocks. Her advice to other businesses seeking investment is to have a proper strategy, conduct due risk assessment and have a clear financial structure. She has also noted that working to understand your market space and the direction it is taking can be what leans an investor towards your business.
We hope to keep growing Gjenge Makers and enhance our production over time. We also want to keep validating the existing assumptions in our business to build a better product.