If you’re an entrepreneur who wants to start a company that makes a difference, you might want to consider setting up shop in Nairobi, Kenya.
The capital city of Kenya in Sub-Saharan Africa is seeing an increase in foreigners starting businesses aimed at accomplishing some sort of social good, whether it be from opening medical clinics, selling solar power, or founding schools. And while the city has its fair share of issues — corruption, power outages, security problems — it also has a number of advantages. Startup founders describe Nairobi as a good place to do business, with English an official language, excellent universities, solid hospitals and direct flights to much of Africa and Europe if expansion is in your sights. A mild climate doesn’t hurt either.
The region is attracting money, too. A J.P. Morgan survey pegged fund allocation in Kenya by social-enterprise investors at US$650 million in the past five years.
Read more about the city with a Silicon-Valley vibe in an in-depth article on Bloomberg Businessweek.
This story originated from FinancialPost