Vivo Fashion Group Ltd., has announced to become a part of the Nairobi Securities Exchange’s (NSE) Ibuka program, specifically designed to nurture high-growth companies. This strategic move marks a significant step for the leading African women’s fashion brand as it seeks to harness Kenya’s capital markets to fuel its expansion plans across the continent.
Wandia Gichuru, the Managing Director of Vivo Fashion Group, underlined the importance of capital markets in providing affordable and long-term funding. This financial support is vital for Vivo’s vision of ascending to the forefront of the women’s fashion industry in Africa.
Paul Mwai, Vice-Chairman of the NSE, expressed how Vivo Fashion’s participation in the Ibuka program will empower them to reposition their business effectively, enabling them to explore both debt and equity transactions.
The NSE Ibuka program is a springboard for corporate development, offering a plethora of benefits such as increased visibility, enhanced brand recognition, expanded business prospects, a more streamlined corporate structure, and a well-defined path towards sustainability.
Founded in 2011, Vivo Fashion Group has steadily expanded, currently operating 24 retail stores in Kenya, Rwanda, and Uganda. With a workforce of over 360 employees, around 70% of whom are women, the group has demonstrated its dedication to gender diversity and empowerment. Additionally, their portfolio includes Shop Zetu, East Africa’s fastest-growing online fashion marketplace, featuring a diverse array of over 350 international and local fashion, beauty, and accessory brands.
