Homeboyz Entertainment’s Myke Rabar invested the most among the KCB Lions from the first season that ended last week. The entertainment colossus, with interests in multifaceted media investments invested sh51.7 million.
Myke Rabar and his brother have business interests in public relations and advertising agency, six audio recording studios, two TV production facilities, an events management division, a full audio/visual rental and maintenance department, the Music Technology academy and roadshow gigs, Homeboyz Radio, HBTV, Homeboyz Rugby club.
The first season that was aired on NTV had eight episodes.
Myke was followed by Darshan Chandaria who invested sh38.95 million. The CEO of Chandaria Industries also put in sh25 million in Bamba Group for a 5.5 per cent stake. Bamba Group’s Shehzad Tejani and Harman Johar pitched on the show and were lucky to entice the young millionaire. In a post, the company said they intend to use the funds to expand their business across Africa and South America.
A source working with KCB and the Lions revealed that a report on the first season is ready and they are analyzing it to inform any future steps and seasons. The report will be submitted to Sony who are the Show owners.
IT Guru Kris Senanu was third with sh22.85 million. Kris is the Managing Director for Telkom Kenya’s Enterprise Division and runs BlackRock Capital Investments, an investment company that focuses on the entertainment industry.
Fashionista Olive Gachara invested sh19.4 million. Olive is the founder of fashion magazine Couture Africa also also an Image Consultant with Olive Image and a model agent.
Wandia Gichuru, the managing director Vivo Active Wear that has 7 stores in Kenya invested sh15 million.
The program was airing every Monday and saw the five multi-millionaire evaluate the companies. The TV show is part of the Sh50 billion KCB Group 2Jiajiri Programme expected to benefit at least 500,000 youths in a period of 5 years.
During the show, Ronin Creatives got the least amount of sh100,000 for a 20 per cent stake from Myke Rabar. Ronin Creatives Founder Kevin Odhiambo is a comic strip artist. He quipped to KCB about the investment that he had to be realistic when pitching. The 20 per cent stake in the report however differs from the 50 per cent stake in the KCB post.
“It’s good to have some Lions in mind and remember that it’s about opportunity and connections, he added.”
In total, 26 companies got funded while three refused to take up any funds. For instance, Enda Athletic, refused sh6 million for a 21 per cent stake. Enda is a high tech footwear brand presented by Ms Osembo who’s the co-founder of the company. She asked for sh5 million for 1.5 per cent equity from the lions. Enda footwear for athletes retails their shows at sh10, 000.
The highest stake conceded was by Litmus Stove for a 60 per cent stake worth sh1 million.