Kenyan technology startups are set to receive a significant boost through a new program aimed at facilitating their expansion across Africa.
The Chanzo OneSpace Startup and Scaleup Accelerator (COSSA) was officially launched yesterday in Nairobi, an initiative spearheaded by Two Rivers International Finance and Innovation Centre Special Economic Zone (TRIFIC SEZ), ONESPACE, and Chanzo Capital.
The COSSA program is designed to provide participating startups and scaleups with vital resources, including capital, capacity building, and access to a supportive business community. This initiative is part of a broader effort to help Kenyan tech companies grow and access new markets across the continent.
Investment, Trade, and Industry Cabinet Secretary, Rebecca Miano, who officiated the launch, highlighted Kenya’s impressive ranking as the third global destination for foreign direct investment in 2024. She reaffirmed the government’s commitment to supporting the growth and innovation of Kenyan startups.
TRIFIC SEZ focuses on enhancing trade, attracting investments, creating jobs, and driving economic development. ONESPACE offers flexible and innovative workspace solutions, while Chanzo Capital, an Africa-focused venture capital firm, invests in tech startups and scaleups through its KINGS (Kenya, Ivory Coast, Nigeria, Ghana, and South Africa) funds.
The inaugural cohort of the COSSA program includes three promising Kenyan companies: SaveApp, At Large Innovation (ThryvCapital Partners LLP), and CheckUPS COVA, all of which are poised for regional expansion.
Centum CEO Dr. James Mworia emphasized that COSSA is integral to Centum’s broader strategy to generate over 10,000 jobs, attract foreign direct investments, and enhance trade and service exports through the TRIFIC SEZ.
In addition, Chanzo Capital will host its annual Angel Fair Africa event in Nairobi in November. This event will provide COSSA participants with an opportunity to pitch their businesses to potential investors.