Established in 2014, SOKO is a company that designs, markets and sells ethical fashion jewelry and accessories. SOKO delivers affordable, fashionable styles of handcrafted jewelry created by artisans based in peri-urban areas of Nairobi. Their artisans use natural materials such as recycled brass and cow horns to make beautiful handmade jewelry.
In 2016, GBF committed a 3-year revolving credit line to SOKO for its working capital needs. The company’s competitive advantage is its technology and operating platform which utilizes a large (1000+) artisan base in Kenya to produce just in time orders for customers globally. This investment has allowed the company to finance its purchase orders and build inventory as it expands its offering to its European, American and Asian clientele.
GBF BAS & SOKO:
GBF’s BAS with SOKO is focused on increasing the company’s network and strengthening its working relationship with its artisans.Financial Management: Helped establish a good financial reporting standard for better decision making Corporate Governance: Encouraging a governance routine to include all stakeholders along with monthly review of financials
Strategy: Evaluation of business model and helping the company put in place a long term growth strategy
Environmental & Social (E&S): Supply chain impact study and conduct artisan value-add trainings for better account and record keeping
SOKO works with more than 332 artisans
SOKO provides an advance to their artisans to begin production.
On the overall closure of an order, SOKO shares 15-20% of the order value with the artisans
SOKO has provided $310k in income generation since its inception
SOKO provides technical assistance and training for artisans to help them move into a skilled labour earning bracket
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