Vivo Fashion Group Limited has recently joined the Ibuka Program at the Nairobi Securities Exchange (NSE). This program serves as a platform aimed at nurturing and accelerating the growth of companies with high potential in Kenya.
Vivo Fashion Group’s inclusion in the Ibuka Program is expected to help the company revamp its business operations in line with its long-term vision and strategic goals. NSE Vice-Chairman Paul Mwai highlighted that this move positions the company favorably for potential debt or equity capital market transactions.
The Managing Director of Vivo Fashion Group, Wandia Gichuru, expressed the company’s interest in tapping into Kenya’s capital markets for financing. She believes that the capital markets can provide cost-effective and long-term funding, which will play a crucial role in supporting the company’s future growth ambitions. Vivo Fashion Group aims to establish itself as a prominent ladies’ fashion brand across the continent.
Vivo Fashion Group, founded in 2011, specializes in ladies’ fashion and operates 24 retail stores in Kenya, Rwanda, and Uganda. The company employs over 360 individuals, with a significant majority, 70%, being women. Additionally, the group owns an online fashion marketplace, Shop Zetu, which hosts over 350 international and local fashion, beauty, and accessory brands.
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The Ibuka Program is designed to facilitate the development of companies by preparing them for potential equity or debt capital market transactions in Kenya. Since its launch in 2018, over 25 companies have joined this program, which aims to foster growth and development in the business landscape.