NAIROBI, Kenya, Jan 25 – Serviced office space provider, Workstyle Africa has partnered with SNDBX International to open five entrepreneurship centres and workspaces that will provide businesses in East Africa with personalised access to business experts to support their growth.
The initial investment will be over Sh250 million to enhance the network and member experience of businesses that enroll.
Workstyle Africa builds and manages high-end, flexible workspaces at competitive pricing, while enabling companies to manage new hybrid-work models and enhancing their employees’ work environment.
“Each Workstyle location with an SNDBX wing will have more than 20 resident business support experts including finance, human resources, tax, legal, branding, marketing, debt management, innovation, governance and risk management among others, which will enhance our flexible office space value proposition as we expand across East Africa and beyond,” said Ebenezer Degu, Chief Executive Officer, Workstyle Africa.
According to SNDBX Chief Executive Officer Joram Mwinamo, the partnership will see entrepreneurs access discounted space at Workstyle, providing them with an environment filled with SMEs, investors, and corporates.
The latest data from the Kenya National Bureau of Statistics indicate that about 400,000 SMEs close shop annually in the country with 46 percent of them dying in the first year of establishment.
Those who close attribute it to making losses, poor investment choices, and market saturation.
In the last 3 years’ of operations, SNDBX has so far helped businesses create an average of 9 full time jobs per company that has come through its doors, with 90 per cent of the experts’ clients reporting improved business performance.
Kenya’s SME sector constitutes 98 percent of the businesses in Kenya and provides 30 percent of annual employment.
