The bidx entrepreneurial ecosystem has announced its expansion into Africa.
Thierry Sanders, the founder of bidx, summarized the vision of the company in this quote from one of his TEDx talks recently
“Lets start a movement that uses the income inequality that is present in all countries to enable the wealthier to finance those needing finance. Let’s get money to flow where it can create jobs”
“We believe that small and medium sized enterprises (SMEs) are the main driver for job creation, and thus our mission is to support the start, growth and finance of such enterprises in emerging markets.”
About 30% of the bidx members, across all its portals, are from the following neighbouring African countries; Kenya, Uganda, Tanzania, Burundi and Rwanda. Kenya has 7% of bidx members on its own.
According to the CIA Factbook, Kenya has a unemployment rate of 40%. The same percentage of the Kenyan population lives below the poverty line. Nevertheless, the World Bank Group’s Ease of Doing Business Index, Kenya has a score of 74 out of 100 for how easy it is to start a business.
Seeing the potential, and the opportunity to help business create more jobs in the region, bidx decided to open a new office in Kenya. The office is run by Ismail Yassin and Jeremie Muna.
