Cytonn Investments Launches Cytonn College of Innovation & Entrepreneurship
Cytonn Education Services (CES), Cytonn Group’s education affiliate has launched Cytonn College of Innovation and Entrepreneurship, (CCIE).
Cytonn College of Innovation and Entrepreneurship will focus on developing graduates with entrepreneurial and technical skills needed for the affordable housing and manufacturing pillars of the “Big Four” agenda in Kenya.
The college is Cytonn’s flagship college for vocational and technical training, with a focus on innovation and entrepreneurship as a distinguishing factor for all graduates.
According to Cytonn, the diversification into education was essential due to the need to provide education in their various real estate developments.
The company notes that there is need to package the attractive returns in the education sector for local high net worth and institutional investors. Local investors have typically been relegated to only equities and fixed income, which collectively have returned 10 to 12 percent per annum compared to private equity and investment grade real estate, which have returned 20 to 25 percent per annum.
Just as Cytonn Real Estate has enabled the company package attractive investment grade real estate opportunities for their investors, Cytonn Education Services will enable them to package attractive private equity opportunities in education for our investors
Developing talent for the country and for the company, in regard to the presidents “big four” agenda pillars of affordable housing is the core focus of the Cytonn Centre for Affordable Housing and in manufacturing. With the high unemployment rate, the College will focus on developing graduates with an entrepreneurial spirit. Top graduates in technical areas such as plumbing, electrical and masonry will be guaranteed jobs in our real estate projects
Finally, this initiative enables us to diversify our revenue streams away from investments and real estate, to education, which is an annuity business
CCIE seeks to provide training to an increasing number of students who do not meet the entry requirement to join universities and to people looking to enhance their careers by gaining a technical skill.
“We are targeting one percent of students who fail to meet the entry level requirement for universities, which will translate to 3,000 students over the next 4-years” noted Faith Maina, the Investments Analyst for Cytonn Education Services.
The college will offer technical classes in the following schools; School of Engineering, Building and Civil Technology, School of Computer Sciences, School of Business and Accounting, School of Hospitality and Tourism, School of Journalism and Mass Communication and School of Cosmetology.
The college will focus on giving its students practical training in entrepreneurship, through a compulsory entrepreneurship course, coupled with mentorship by established entrepreneurs and an opportunity to incubate business ideas at the end of their training period in the college.