Chanzo Capital, an investment and growth capital business that focuses on high-tech startups and scaleups, and the Two Rivers International Finance and Innovation Centre Special Economic Zone (TRIFIC SEZ) have teamed up to create the Chanzo ONESPACE Startup and Scaleup Accelerator (COSSA).
The ONESPACE programme will target digital startups that are prepared to expand their operations from their home nation into new regional markets. ONESPACE is a premium office space within the TRIFIC SEZ that offers administrative services.
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What the COSSA program would entail
Companies from Kenya, such as SaveApp, At Large Innovation (Thryv Capital Partners LLP), and CheckUPS COVA, will be part of the first COSSA cohort. These companies are eager to expand their operations to other African countries.
The programme will provide critical solutions to the problems encountered by companies expanding into other nations in collaboration with three prominent African institutions.
Chanzo Capital will finance COSSA in Kenya, Ivory Coast, Nigeria, Ghana, and South Africa via the KINGS Fund, according to Brenda Mbathi, CEO of TRIFIC SEZ.
The programme will utilise the African Continental Free Trade Area (AfCTA) to establish African multinational firms. Along with the financing, it will also build capacity and connect the cohort to the business community of the nations they expand into.
Mbathi, CEO of TRIFIC SEZ, expressed that they are thrilled to have Chanzo Capital join TRIFIC SEZ. Their expertise and experience will further solidify TRIFIC SEZ's position as a high-tech company's preferred Special Economic Zone.
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Other remarks and opinions
In a statement, ONESPACE CEO Ian Kabiru said that the programme will use the strategic incentives and supportive environment at TRIFIC SEZ to help entrepreneurs get off the ground and provide new employment possibilities.
Kabiru says, "Our team has the know-how and networks to support the COSSA cohort and enable them to focus on their core business." This is because the country has hosted numerous African and international enterprises.
The Innovation Hub at TRIFIC SEZ was created in response to programmes like COSSA. Centum CEO James Mworia revealed this.
From November 7th to the 8th, 2024, Chanzo Capital will hold its annual Angel Fair Africa in Nairobi. This will be the eleventh edition of the fair.
Scalups can present their companies to additional investors once the COSSA programme ends.
