Vivo Fashion Group Limited has joined the Nairobi Securities Exchange (NSE) Ibuka Program- an incubation and acceleration program for high-growth companies in Kenya.
“The Ibuka Program will enable Vivo Fashion Group to 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,” said NSE vice-chairman Paul Mwai.
Vivo Fashion Group Managing Director Wandia Gichuru said Vivo is keen on tapping into Kenya’s capital markets for financing.
“We believe the capital markets have the ability to enable our business access cheap and long-term 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,” she added.
Vivo Fashion Group, established in 2011, is a ladies’ fashion brand that has 24 retail stores across Kenya, Rwanda, and Uganda. It employs over 360 employees, 70% of whom are women.
The group also owns online fashion marketplace Shop Zetu which hosts over 350 international and local fashion, beauty, and accessory brands.
Ibuka is an incubation and acceleration program aimed at promoting companies’ development by preparing them as they pursue various equity or debt capital markets transactions in Kenya. Since its launch in 2018, more than 25 companies have joined the Ibuka program.