We are raising funds to invest in our next group of change-makers. One entrepreneur you can invest in is Macharia. Through Earth Hub, he is building affordable and resilient housing for the average Kenyans in the urban settlements using interlocking bricks. By not using costly cement, they reduce the costs of homes by up to 40%. Another example is Sofia. Through Eco Jiko, she manufactures hybrid steel cookstoves that use biomass briquettes, providing a clean & affordable cooking option.
Millions of people in East Africa-especially those living in marginalized communities, where populations face poverty-lack access to relevant training, financing and markets to make new businesses viable and are unable to find decent employment. Aspiring entrepreneurs who do pursue their own businesses face gaps in knowledge and financing. Financial institutions are reluctant to fund micro and small businesses because they lack records and collateral.
Somo empowers low-income East African entrepreneurs to transform their communities by building, growing and scaling their social impact businesses. By investing in the right people, connecting them with the right mentors, equipping them with the right tools and facilitating access to finance and markets through Somo's resources and partners, Somo enables entrepreneurs to launch and scale their businesses - bringing jobs and long-term stability to marginalized communities.
Looking forward, Somo is determined to invest in more social entrepreneurs to overcome the current business and employment challenges confronting East Africa. By 2027 our goal is to train 30,000 entrepreneurs, funding 7,500 businesses, creating 140,000 jobs, and equipping more than 1 million people with our digital tools.
