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JULY 2018 STARTUPMAGAZINE.CO.KE KSHS. 350/ USHS. 9000 TSHS. 6000/ RWF. 2200
MICRO-CAP HOLDINGS Building Success Through Innovative Financing Models STIMA SACCO Your ultimate savings and investements partner
OPINION The mobile mind-shift in today’s African consumers
PHILIP KIBET CEO MICRO-CAP HOLDINGS
ICT LG pioneers IoT devices in East Africa
TRAVEL Kenya’s North Coast Surreal Hell’s Kitchen! July 2018 Startupmagazine.co.ke
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INVOICE FACTORING
Converts your unpaid invoices to cash in 24 hours Logbook Loans | Guarantees
0709 434 000 9th Floor, International House, Mama Ngina Street. July 2018 Startupmagazine.co.ke info@momentumcredit.co.ke, www.momentumcredit.co.ke
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Contents
12 “As a Sacco, we appreciate the gap of the haves and have-nots and as such, we try to equalize the playing field so that even the low income earners can access savings and credit facilities,” STIMA SACCO CEO.
16 The founder of Passion Profit is a woman who is determined to change the narrative of entrepreneurs through coaching and mentorship from a unique angle.
32 Today’s consumers rely on their mobile devices not just for communication but to perform a growing range of functions online; provided they get a seamless end-to-end experience.
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36 Adisa Hudson talks of an adventurous experience at the Hell’s Kitchen in Malindi
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MICRO-CP HOLDINGS The company achieved one of its most significant milestones in 2016 when it split its businesses into three companies under Micro Cap Holdings. CEMES became the credit arm of Micro Cap while Ideon, a business outsourcing company, provides back office services like finance and HR to MicroCap and to any other company.
Saaccos STIMA SACCO Your ultimate savings and investments partner
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Real Estate There’s no denying that the local property industry has grown in tremendously in recent years. Mirroring this growth is Granite Capital-A boutique real estate company
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Innovation SMEs, partners must collaborateto fast track cloud adoption in East Africa
SME Financing BIAK Driving insurance penetration in Kenya through professionalism
Business Enterprise The mobile mind-shift in today’s African consumers
My Hustle FIRST CLASS CARS CONCIERGE Redfining the travel experience with a touch of luxury.
Human Resources Employees must embrace continous learning and employee development
Techie LG pioneers IoT devices in East Africa
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SME Financing How Momentum Credit aims to expand your possibilities through timely financial support
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Main Story
Coffee Break 36. 38. 41. 42.
Travel and Leisure Book Review Blog Review Song Review
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4 Managing Editor Sylvester Habil Okumu sylvester@startupmagazine.co.ke Associate Editors Wachira Kambogo Adisa Hudson elizabeth@startupmagazine.co.ke Contributors Sherry Zameer Saggia Gilbert Perminus Wainaina Kate Moulton Business Development Manager Washingtone Terry Aluoch Murrel Marketing Executive Irene Okoth Operations Simpson Ayodi Photographer Decorus Click Photography Creative Designer Kreative Hub Media Published by Kreative Hub Media 4th Floor, Bihi Towers, Moi Avenue next to Bazaar. P.O Box 3875-30200, Nairobi Kenya. Tel (+254) 20-2088776 Cell (+254) 724 113 683 / (+254) 773 659 940 Email: info@startupmagazine.co.ke Website: www.startupmagazine.co.ke
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StartUp Magazine is published monthly. Copyright 2018 Kreative Hub Media. All rights reserved. No part of this publication may be produced or transmitted in any form including photocopy, or any storage and retrieval system without publisher's permission in writing. The views expressed in this publication are those of the authors and do not necessarily reflect the position of the publisher. Readers are advised to seek professional advice before acting on any information contained in this publication. Important Information for Contributors to StartUp Magazine By submitting content before publication you confirm that: (a) You (and/or other named contributors) are the sole author(s) of the content submitted; (b) The content you submit is orginal and has not previously been published (unless you specifically advise us on the contrary); (c) You haven't previously licensed the use of the content you submit; (d) So far as you are aware, the content submitted will not infringe any third-party rights, be defamatory or in any way illegal.
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Editor’s Pen
Few lessons from the World Cup 2018! It is interesting how almost everyone has become a football commentator with the ongoing World Cup hype. Majority of us rush out of the office or hurry to close business deals so that we can go and catch our favorite teams in action! As we enjoy the game and unpredictable turn of events, we should also reflect on few lessons that soccer bring and how we can tap into that to advance our businesses. Looking at the resilience, tenacity, determination and focus exuded by the players and the coaches, we realize that for any successful business, having
the right team is very critical to scale the heights. Teamwork is everything. Get the right team before you set the business ball rolling. Of equal interest is how the various players have turned their passion of the game into a source of livelihood. In this Edition, we capture the story of an entrepreneurial venture concerned with helping translate passion into profitable returns. We also share stories of customer services and how it is changing customer relations dynamics in the business sector. Sometimes all you need as a business enthusiast is to identify a gap in an already flooded sector and come up with a unique customer alluring service to win your clientele loyalty! Marketing by all means is good but ac-
tion becomes paramount! Recalculate your move. Lastly, success in business should not blind anyone! Sometimes the small insignificant opponent can turn the tables over and change the game. Who would have thought Germany would be beaten by South Korea. Be tactical and keep building your empire as David may beat Goliath! Enjoy your read of our July 2018 Edition! Don’t just watch the game, carry the lessons too! Adisa Hudson
Stima Sacco is proud to serve the people of Embu. Join a fast growing deposit-taking sacco, committed to providing you with the faciities you need to secure your financial freedom. Our new Embu branch is located at Pearl Centre next to July 2018 Startupmagazine.co.ke Outspan Hospital, off the Embu-Meru Road. Call us on 0703 024 024 or email info@stima-sacco.com for more information.
StartUp Stories
Letters to the editor “For me, trying a hand at entrepreneurship meant bridging a gap or solving a particular problem affecting the society.”
Helen Njoroge (Kenya) Helen Njoroge is the founder and co-director of Tenders Kenya, a leading tender portal in the country. Her company tries to make a difference in the society by connecting entrepreneurs with access to the tender environment. She does so by advertising all tender opportunities in Kenya online through her website and social media pages. Interested individuals or companies can subscribe to her portal and get access to unlimited tender opportunities. She holds a Bachelor of Arts degree in Economics and a Masters in population studies. In 2015 Helen was feted as one of the top 40 Under 40 Women in Kenya for her role in procurement space by the Business Daily Africa.
“There are two most powerful days in your life. The day you are born and the day you discover why.”
Job Muriuki is an inspiration Hey StartUp. I must begin by saying thumbs up to your incisive entrepreneurship story. I stumbled upon StartUp Magazine via a Facebook advert which directed me to your website. Since I am deeply into financial intermediation in Kenya I was impressed by the work Moment Credit are doing through invoice factoring. Such a timely financial solutions for Kenya’s SMEs. And the fact that the founder is only 33 years old? Such an inspiration Gitobu, Banker, Nairobi Startup failures For the longest time Kenya’s StartUp entrepreneurs have been lacking the magic touch that could keep them in business for years to come. They form part of the global statistics where only a handful of them survive past their formative years. I find your approach in solving StartUp failures through educative editorial so practical. Keep up. Arthur Junior, Via email, Canada
Boniface Mwangi(Kenya)
Camp Ndunda on my bucket list
Boniface is a familiar face in the Kenyan human right and political space. He has risen against many odds to discover photography at a young age and applying his entrepreneurial brilliance to break free from the clutches of poverty. In 2012 Boniface founded PAWA254, a hub for creatives in Kenya, where journalists, artists and activists find innovative ways of achieving social change. He has twice won the CNN Multichoice Africa Photojournalist of the Year Award and is the youngest Prince Claus Laureate. New African Magazine named him one of the 100 Most Influential Africans of 2014 and 2016 and he is also a senior TED Fellow. Time magazine recognized him as a Next Generation Leader in 2015 and he was selected as Kenya’s Top 40 under 40 men in 2016.
I have never thought Embu County has such breathe-taking adventures. I’m an outgoing person and after reading a review about Camp Ndunda Falls in Embu in your magazine, it is now on my bucket-list. Let’s promote local tourism. Eddy Thompson Karen, Nairobi
He is also the author of Unbounded – a poignant and riveting memoir that captures his incredible journey.
HAVE YOUR SAY ONLINE “I advise women to relentlessly believe in their abilities and they will succeed.”
The editor welcomes reader’s opinions but deserves the right to edit them for publication. Please email to info@startupmagazine. co.ke More comments are published online about news stories published on startupmagazine.co.ke
Irene Wanjiku (Kenya) The young lass is the CEO and founder of REXE Roofing-A company that provides state of the art roofing materials in Kenya and East Africa. Her rise from a receptionist to a CEO is arguably one of the best entrepreneurial tales to be ever told in the part of East Africa. She is also a writer and a speaker, gives talks on entrepreneurship and mentors young individuals to believe in their abilities.
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News Cytonn Investments Increases Funding from Taaleri of Finland by a Further KES 2.1 Billion, narrows focus on affordable housing
Edwin Dande, CEO of Cytonn (centre) during the signing of the agreement with Taaleri officials Cytonn Investments, a leading alternative investment management firm in the East African Region, with a focus on real estate, financial services, education and hospitality, has secured an additional KES 2.1 billion in funding from their institutional partners, Taaleri of Finland. Taaleri is a financial group whose parent company Taaleri Oyj's share is listed on the stock exchange maintained by Nasdaq Helsinki Oy. The Taaleri Group consists of three business segments: Asset Management, Finance and Energy. Taaleri manages 5.6Bn Euros (KES 658.5 Bn) and provides funding in the capital-intensive real estate sector in Africa. The funding forms part of Taaleri’s investment in Africa’s real estate sector through their second Africa real estate fund, and will be channeled towards the development of Cytonn’s real estate projects. The funding will take the form of mezzanine financing, and will have a tenure of five-years. This will be the fourth time the Finnish firm will be investing with Cytonn Investments, having already committed over KES 3.0 Bn towards projects and investments with Cytonn, and having already successfully exited from two other investments, namely Amara Ridge in Karen and The Alma in Ruaka. The funds will be directed towards development
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projects, such as the construction of The Ridge, a KES12.0billion mixed use development by Cytonn located in Ridgeways, Nairobi County. Speaking at the signing of the additional funding, Shiv Arora, Head of Real Estate Private Equity at Cytonn Investments, noted that “We are thankful to Taaleri for the continued support they have shown to the Cytonn brand, and also to the Cytonn Team for continuing to exceed Taaleri’s investment expectations. Our partnership with Taaleri is testament to our strategy of connecting global capital seeking attractive returns, with the attractive investment opportunity in Kenya and the region. Through Cytonn, Taaleri’s investors have been able to achieve attractive returns, while also contributing towards growth of the Kenyan economy, reducing the housing deficit, and also uplifting standards of living in the economy. Through all of Taaleri’s investments with Cytonn, we have been able to create over 2,000 jobs both directly and indirectly, and delivered inspiration and institutional-grade real estate to the market. We shall continue investing in mid income housing even as we ramp up our efforts in affordable housing” Speaking at the function, Antti-Jussi Ahveninen, the Head of Real Estate Funds, Africa at Taaleri noted
that “Our partnership with Cytonn has continued to grow, with Cytonn our trusted partner for deploying capital to the East African Region. More than just delivering attractive returns to our investors, Cytonn delivers institutional-grade real estate, plays a key role in development of housing in Kenya, and does all this with the highest standards of corporate governance. This KES 2.1 billion investment is the first investment with Cytonn from our second Africa fund, and we are exploring further areas to deploy capital with Cytonn. He further added that “Cytonn has a strong track record in structuring real estate investment products, and this structured finance structures are what appeal to global capital seeking attractive risk-adjusted returns. We also commend Cytonn’s sponsorship of the East African Forum for Structured Products (EAFSP) as a foundation to continue attracting global capital to real estate, all towards funding the affordable housing pillar of the government’s Big 4 Agenda.” Cytonn Investments was advised by Cytonn Capital Partners as transaction advisor and Oraro and Company Associates as Legal Advisors. Taaleri was advised by KNOW Advocates, led by Jenny Nduati, as legal advisors.
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News Golden Agri-Resources’ latest Sustainability Report tracks progress on supply chain transformation
Golden Agri-Resources' (GAR) Sustainability Report 2017 highlights important milestones in the company's efforts to transform its palm supply chain. GAR achieved 100 percent Traceability to the Plantation (TTP) at the end of 2017 for its 44 owned-mills. This means that 39 percent of GAR's palm supply chain is now fully traceable. GAR is now working with over 420 third-party supplier mills to help them achieve TTP by end-2020. "TTP means we can guarantee the provenance of our raw materials and is in line with the efforts of others in the sector, including our major customers, who are also working on full transparency of their palm supply chain. For us, this achievement is an essential part of our wider efforts to help our suppliers change for the better. Through deeper engagement, we reduce supply chain risks while helping our industry become more responsible and resilient," said GAR Chairman and CEO, Franky Oesman Widjaja. In parallel with its mapping efforts, GAR is carrying out targeted site visits; monitoring suppliers as part of risk assessment and management; and assessing their needs to help them upgrade their capacity to implement responsible practices. As part of its ongoing outreach, GAR holds annual SMART SEED (Social and Environmental Excellence Development) workshops for its suppliers with practical themes such as achieving certification, improving labour
practices and implementing traceability. GAR also holds special workshops as needed, and in 2017, organised a workshop for suppliers to heighten awareness of the protected status of the Leuser Ecosystem in Aceh, as well as how to improve procurement practices to avoid sourcing from growers who may be operating in that protected area. The achievement of full TTP will help GAR share responsible practices with more agents, brokers and smallholders in its supply chain. The progress made in this area aligns with UN Sustainable Development Goal (SDG) 12 - Responsible Consumption and Production - as GAR tries to improve the livelihoods of its suppliers especially small farmers while ensuring sustainable production.
al hunger. GAR continued to make progress on other fronts including its innovative community conservation partnerships. Participatory Mapping and Conservation Planning continued apace with 13 villages in conservation partnerships to protect more than 7,000 hectares of High Carbon Stock (HCS) forests. GAR's progress on forest conservation and other environmental initiatives contributes to the achievement of UN SDG 15 -- the protection of Life on Land. The SR2017 is based on Global Reporting Initiative (GRI) Standards Reporting Guidelines. The full report can be viewed on the GAR website. GAR has been publishing a Sustainability Report since 2011.
In 2017, GAR also made a breakthrough in longterm yield improvement through the launch of two new planting materials - Eka 1 and Eka 2. These non-GMO clonal seeds, which can potentially produce more than 10 tonnes of CPO per hectare per year, are set to revolutionise productivity and will be rolled out progressively in GAR plantations starting in 2022. Eka 1 and Eka 2 are the results of GAR's longheld belief in investing in technology and R&D to advance sustainable productivity, while reducing the need to open more land for agriculture. This puts GAR on track to deliver UN SDG 2 which aims to increase agricultural productivity to relieve glob-
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Saccos
Stima Sacco: Your Ultimate Savings and Investment Partner The Sacco stands out because of its innovative products and services that suit the needs of customers
By Adisa Hudson
e Chris Useki CEO Stima Sacco
stablished in 1974, Stima Sacco's objective was to provide a savings and credit platform to the employees of the then Kenya Power and Lightning Company (KPLC), now Kenya Power. Since then, the Sacco has faithfully served the staff members of Kenya Power, empowering them economically. While the financial institution continues to serve its initial customer base with the same verve and enthusiasm, it opened its doors to the general public in 2014, a move that strategically placed it on a growth trajectory. Mr. Chris Useki, the CEO of Stima Sacco, explains the Sacco's transformation. “From the onset, the membership of the Sacco was limited to the staff of Kenya Power but with time, we realized that it was restricting our desire to reach out to many people and thus depriving us the opportunity to help them realize their development goals. Eventually, through a board decision the Sacco opened doors to the larger populace and we are glad to serve the numbers and see more growth."
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Currently with a membership of 103,000, Stima Sacco serves customers from all spheres of life. Looking at the Sacco's product offering, it's not hard to see that it's keen on changing the lives of its clients. To achieve this, the Sacco developed an innovative range of products and services that's informed by customers' needs. “As a Sacco, we appreciate the gap of the haves and have-nots and as such, we try to equalize the playing field so that even the low income earners can access savings and credit facilities,” affirms the CEO. Financial Inclusion The Sacco bridges the financial gap left by most financial institutions. For instance, traditional financial service providers like banks require customers to provide collateral before they can access any form of a loan. Essentially, this locks out millions of Kenyans from the formal financial system. Sacco's like Stima Sacco lend money to customers using a different methodology, meaning that anybody can access loans without necessarily furnishing the sacco with title deeds or vehicle log books as security. “The Sacco is here to offer alternative financing models by reaching out to those who have been excluded by banks as far as credit is concerned. Besides, we also offer mainstream financial services which our clients can utilize to unlock their full potential.” Saccos are primarily a savings and credit vehicle, and most provide generic products and services that only address the savings and credit needs of their customers. Stima Sacco stands out from the traditional Saccos because of its diverse product offering, created to wholesomely meet the needs of customers. “We have credit facilities that help our customers meet their agribusiness, housing, land and investments, education and insurance among other financial needs,” explains Mr. Useki. Their services go beyond class, racial, geographical, religious or tribal boundaries and serve all humanity.
Over the years, Stima Sacco has maintained its position as one of the most successful Saccos in the country. Mr. Useki attributes the Saccos impressive run to good governance structures that the Sacco abides with."The success of any institution is in a big way pegged on its governance structures. Our robust governance structures promote transparency and accountability that have defined the ethics of our operations,"says Mr. Useki. Technology plays an integral part in the finacial sector. According to the CEO, the Sacco keeps on innovating to keep up with the dynamic nature of technology. He says that companies that fail to embrace technology face an imminent risk of failure. “We have been and are constantly on the lookout for new trends and developments in the industry. We are keen to adapt to these new changes and innovate our financial models and product offering in order to address the ever changing market needs.” M-Stima One of the Saccos innovation is M-Stima, a service that allows members of Stima Sacco to withdraw or deposit fundsfrom their account through MPESA. “M-Pesa has disrupted the mobile banking industry. We have had to realign our technology needs with such innovations." The Sacco introduced an innovative banking platform dubbed M-Pawa to allow members to send, receive and borrow money from the Sacco using their mobile phones. One can access loan of up to Kshs 100,000 repayable in 6 months.” With the M-PAWA app, which can be downloaded from Google Play Store, one can check balance, get mini statements, and transfer cash both internally and externally to other members and also borrow money through the M-Advance feature. Financial institutions are increasingly targeting millenials with cutting edge products and services that seek to inculcate a saving culture in this demographic. According to research, most millenials do not have a saving culture and live for the moment. They are also known to be ob-
M-STIMA
One of the Saccos innovation is M-Stima, a service that allows members of Stima Sacco to withdraw or deposit fundsfrom their account through MPESA. sessed with overnight riches and get-richquick schemes. Mr. Useki challenges them to consider the Sacco’s saving products and digital financial solutions to transform their lives. To make it easier for the youth to join the Sacco, they introduced an e-form system for registration and loan application. All a person needs to do is to fill and submit digital forms which are then approved electronically. “We have also partnered with colleges, universities and other institutions of higher learning to set up workshops at their campuses to create awareness about our financial products and encourage students to start their savings journey.” Going forward The CEO adds that the Sacco is critically looking at the ever growing housing industry as its next frontier as it seeks to deliver affordable housing to its members. “There is immense need for housing solutions and we aim to develop houses for most of our members and Kenyans at large. We are also keen to partner with the government (it has identified housing as one of its BIG Four Agenda) and other key stakeholders in the property industry to develop affordable housing.” In conclusion, the CEO says, “At Stima Sacco, we have something for everyone. We impact livelihoods through our financial models. Join us, for a better tomorrow.” July 2018 Startupmagazine.co.ke
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Real Estate
Granite Capital bets on exceptional customer experience to disrupt the property market There’s no denying that the local property industry has grown in tremendously in recent years. Mirroring this growth is Granite Capital, a leading real estate boutique company that provides cutting edge services to the local real estate industry. Since its launch in 2017, the company’s services have been well received in the industry.
By Special Correspondent
s imon Ng’ang’a, the executive director of Granite Capital attributes his company’s traction in the property management industry to excellent management and professionalism. As the company’s founder, he says he benefitted from experience at the international level that gave him invaluable business lessons and shifted his perspective on customer satisfaction. And that’s exactly what he’s bringing to the Kenyan market through his company, Granite Capital. Joining the Kenyan market, Ng’ang’a realized that the local real estate market was static in many aspects, including the lack of proper research on property development. Granite Capital aims to disrupt the things as they are by adopting the use of market research, data analytics and exceptional customer experience. Launched in January 2017, Granite Capital offers property sales, leasing of offices and residential property, property management and market research services. “Our selling point is very simple. We are not focused on the mass market but creating an exceptional relationship with our
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niche customers, “ Ng’ang’a says.
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He handles market research and customer experience while his three other staff are in charge of other dockets. Looking at his company’s impressive performance over the last one year, he says, “It has been organic.” Starting off the firm from a small office with a single employee to the current offices with a staff complement of three is a milestone. “I was operating alone and as the company grew I saw the need to get added workforce.” When he began his professional career in the finance industry many years ago, he never imagined he could end up in the property industry. However, his experience with a local company, Link Soft Communications sparked his interest and as fate has it, he’s now building a prosperous career in the real estate sector. “LinkSoft maintained transmission base and communication units for telecommunication firms across East and Central Africa. They could rent a place, set up a transmission tower, pay a monthly rent to the tenant and manage it on behalf of the telecoms. I was in charge of strategy and development at the firm. I saw the opportunities in the real estate sector and left to form Granite Capital.” Business lessons Ng’ang’a’s international exposure taught him about key business lessons that propelled his property management firm to success. “Customer service and professionalism are key determinants of success of any business. I’m keen on understanding market analytics and how it drives a business.” Coming from a finance background, Ng’ang’a holds a Bachelor’s Degree in Economics and a Masters in Management from Hamline University, in St. Paul Minnesota - USA, a college in Minneapolis USA. He worked at Nairobi Securities Exchange, American Express Financial Advisors for 16 years as a Senior Financial Analyst and advisor and Super Value for 2 years before coming back to the country in 2012.
wouldn’t want to discuss it with anyone. That limits our scope.” Emerging trends
Some of the projects the firm is selling include Mirabelle Villas, Pamora Villas in Kibiko Ngong, Woburn Residence Club-A hotel in Malindi, Tree Tops Forest Apartments oin Peponi road and many other property with Cytonn.
“We are a one-stop shop for property solutions and investments and keen on giving customers the best experience in the market,” he explains. “We also work with key partners to make our work a success. We have incorporated property developers like Cytonn and Elegant Properties, financial advisors like Genghis Capital and other key realtors.” Our Projects Some of the projects the firm is selling include Mirabelle Villas, Pamora Villas in Kibiko Ngong, Woburn Residence Club-A hotel in Malindi, Tree Tops Forest Apartments oin Peponi road and many other property with Cytonn. Challenges Although Real Estate is a growing and exciting industry, it comes with its own challenges key among them being fraud. “We are keen on integrity and wouldn’t partner with a firm whose integrity is compromised. We know there are rogue players in the industry and we do due diligence and set up risk measures to know their reputation in the market. We wouldn’t want to put our brand at risk,” he affirms The other challenge is the static nature of the real estate sector. “People don’t like change. The older Kenyan generation is accustomed to operate in a certain way. Some of them consider investment as a personal decision and
Asked about his opinion about the emerging trends in real estate he says, “although cases of corruption and fraud have been prevalent, they tend to drive customers to professional firms like ours. Clients are keen on integrity and looking to work with the right company.” He also reiterates that with property financing still posing a challenge, it’s very hard to get a mortgage in this market. However, there is also huge investment that is coming into Kenya from the international market. “People are also moving out of the city to invest in suburbs. With this kind of trends, we are forced to realign our strategy to focus on niche markets like Limuru and Ngong which are still underdeveloped.” Going forward Going forward, he expects growth. His firm has already exceeded its year-on-year revenue and looks forward to expand to Nakuru, Naivasha and Mombasa. “If you want to compete in the future you really have to follow the direction which the government has taken. Devolution has opened up opportunities in the counties and we need to tap into these opportunities.” Investment in technology has also disrupted the sector and digital marketing is now a big thing. Predictably, there is so much buzz around the real estate sector on social media and online platforms. “It is also inherent to open web-based platforms to market real estate,” he states. Overall, he says that the sector will continue to grow and advises firms to innovate and create products and services that appeals to the youth. “The youth are also looking into home ownership and they have new expectations defined by market trends, they are very knowledgeable and informed. Thus you have to know your products well and facts right. You also need to fashionable products that appeal to them,” he ends. July 2018 Startupmagazine.co.ke
Woman of Power Frida with colleagues
Turning your Passion into Profit The founder of Passion Profit is a woman who is determined to change the narrative of entrepreneurs through coaching and mentorship from a unique angle. “Let’s start with what you love and then explore how we can translate it into profit is her mantra.” Drawing her drive from and inspiration from her mother, Frida Owinga talks about her early exposure with entrepreneurship, the birth of Passion Profit and how she aims to empower Africa’s startup entrepreneurs to outlive their formative years by pursuing a business
i
grew up from a humble background. My father was a station master at the Kenya Railways Services and my mother was a trader Out of the business proceeds of her business, my mother bought us niceties. Looking at how well she was doing with business, I was inspired. Little did I know that childhood would later play an important role; it was the jab I would need Startupmagazine.co.ke July 2018
to awaken the idea of running a business for financial freedom. Her business gave the family more money. It influenced me to start my own business. My first employment stint was in a company that used to export artifacts globally. With the company based here in Kenya, we would get massive orders that left us utterly overwhelmed. I was the contact person with clients and my boss would tell me to cancel the orders we couldn’t service. That disturbed me a lot. I saw it as a lost opportunity which we could service. The reality left me frustrated with every lost opportunity we had to cancel.
When I couldn’t handle the frustration any longer, I resigned to start my own company to service such clients instead of turning them away. It was a worthy course that saw me service clients across Africa, Europe and America, Australia and UK. Along the way, I started importing vehicles from Japan and joined my husband in his tours and travel firm. I have had the privilege and pleasure to live in the US and was amazed by their abundance mentality. I was also exposed to the world of networking and consulting and noticed how things could be done differently in the world of business. In particular, I learned business development and management skills that opened opportunities to greater possibilities. After spending a decade abroad, I came back to the country in 2009. During that time, a lot of people would send me their CVs asking for work while many others complained about not enjoying what they do. The Bible in Mathew 25 talks about
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Frida Owinga
the parable of the talents where three people were given talents to multiply. It posits that every person has something and a measure of talent with which they can work on and get reward in return. This scripture inspired me and formed a backbone on a thought of how I can help these people discover their passion and turn it into profit; it birthed Passion Profit. I always tell people that you do not necessarily need to run your own business to generate wealth. All you need to do is contribute value consistently and excellently and you will be wealthy! Employed or Self Employed. At Passion Profit, we provide aspiring and existing Founders with mentoring, networking and access to capital. We are also certified to provide mentorships and coaching to professionals and corporate leadership. Our model focuses on the whole person and not just busts targets. Everyone wants to produce results, whether at work or in life. Whether you are a startup or business leader, you definitely need us. Through research, we have found out that there is always a disconnect between business leaders and their team because
NETWORKING
The programmes maps out roles that an individual plays in life in an effort to create harmony. For example, one might be a husband, father, brother and a business leader at ago and thus, articulating the roles help in achieving and enjoying those goals thanks to harmonized living. Of interest is our Social Innovations Awards where we empower youths to become social innovators by turning their intentions into actions. We look at social acts that one can do, help a community and earn a living out of it. Researches indicate that many startups fail within their formative years because go into business expecting a quick success. You can’t make it quick in business. It is a process that takes time. Others start wrong, without enough capital, experience and prerequisite skills and education to start and run a business. We provide the necessary, skills and tools to support the building of a thriving business, whether start up, growth stage or scale up stage. At Passion Profit, we have programmes that address such issues and challenge an individual’s reasons for the business pursuits they are in. We are proud to be the only network that provides individuals with a structured way to measure, monitor and track performance so that they can produces the results that matter most.
At PassionProfit, we provide aspiring and existing Founders with mentoring, networking and access to capital. of the different level they occupy within the company. This, to an extent affects cohesiveness and work flow, and ultimately overall performance. Besides, within a work environment, there is always an immense pressure to achieve maximum results without concern on how such pressure affects the personal lives of employees. Our mentoring and coaching program comes with an online subscription that measures, monitors and tracks results in life and work.
We also understand that as a startup, access to capital is severely strained. Thus, we have a catalyst fund, short term loans and savings that one can access to begin their business journey. Going forward, our ultimate goal is to see startup founders outlive their formative years. We are also aiming to have our own centre where we will continue to provide entrepreneurs with mentoring, networking and access to affordable capital, and space where they can pursue their passion. To this end you should know that, your success is not dependent on your conditions or circumstances; it is dependent on your decisions and actions.
July 2018 Startupmagazine.co.ke
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Techie
LG pioneers IoT devices in East Africa By Sylvester Okumu
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luctuating electrical voltages are a common occurrence in most of Africa. Indeed, electricity vibration as is commonly known is a major source of concern for most households as it destroys electrical and electronic appliances. Locally, LG’s voltage stability devices, including the popular fridge guard, offer a solution for many consumers. But beyond the voltage stability devices, LG is pioneering a technology that effectively overcomes the fluctuations challenge while reducing power consumption. Their solution is smart devices, also known as IoT devices.
Moses Marji, Marketing General Manager for LG Electronics in Africa
Simply put, these are devices that are interconnected through the internet, and are able to communicate with each other. IoT devices relay information on energy consumption and are programmed to use data to adapt to temperature changes, effectively reducing their power consumption. What would it be like to control the temperature of your fridge as you sit in your office, many miles away from home? Being able to control our home appliances using a smart phone makes life easier. And such capabilities are becoming a reality right before our eyes, as IoT is making it possible. With IoT emerging as one of the most exciting technological trends, many global players are creating solutions based on this technology. In Africa, LG is leading
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the way. “We are innovating to not only cut the negative effects of electricity vibrations but also to reduce energy consumption,” says Moses Marji, Marketing General Manager for LG Electronics in Africa. LG current list of innovative devices cut across its four main divisions namely; home appliances, home electronics, air conditioning and mobile communications. Their smart devices are installed with features like LGHomechat and SmartThinQ, allowing consumers to interact with their devices in a never-seen-before way. The company’s aim is to spearhead the creation of smart cities, powered by IoT. Their latest side by side refrigerator can be controlled by a smart phone, allowing users to check the contents of the refrigerator, and saving on power. “According to research, the average person opens their refrigerator at least 60 times a day. Half of the time, they just open, stare and close the door. Essentially, what this means is that the appliance consumes more energy as it has to work harder to keep up with that,” says Mr. Marji. While IoT devices are pricey, the executive believes that Kenyan consumers need them. “We have a segment of Kenyans that needs latest technology. For us, our goal is to supply them with the best technology and to enhance their experience. It helps that our devices consume less electricity.” Additionally, he says, LG expects that
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(R)William Kamore_ LG’s Lead Product Trainer and Head of Home Appliancs Mr. Song accompanied by a potential customer at the Launch of LG’s Instaview Door-in Door Refrigirator. many people will be willing to connect to the LG Smart Cities. “We are a leader in IoT and we hope that our technology will trickle down to all future cities.” LGs latest devices are a cut above the rest. For instance, their intelligent TVs can be controlled by users who talk to the remote devices. The TVs are now supporting 14 languages. The products are designed with the customer’s convenience in mind. “We are happy to bring technology that helps customers, makes them comfortable and saves their costs.” So, what makes LG stand out in a sea of electronics manufacturers? One thing that is synonymous with LG is quality. According to Mr. Marji, LG spends millions of dollars on Research and Development, with an aim of bringing to the world the best, high quality
products.
kind in Kenya.
“Our products are durable as we don’t compromise on quality to save costs. We also listen to the needs of our customers.” LG’s range of innovative products won accolades at this year’s Consumers Electronics Show for a reason. Their IoT devices, including washing machines, are equipped with cutting edge technology that could potentially change the dynamics of the consumer electronics industry. Their paper thin TV screen was one of the crowd-pullers and ended up winning several awards for the South Korean giant.
Like most electronic manufacturers, LG is also a casualty of the counterfeits dragon.
The firm is keen on availing their innovative products to the customers in a hassle-free way, sometimes delivering the products to the customers’ doors. In Kenya, the firm has a robust distribution channel, including an online store and B2B channels. Their online brand shop was the first of its
While counterfeits are a serious challenge in the local market, the firm says it has put up measures that seek to tame substandard electronic goods. “Our strategy is to give consumers a twoyear warranty on every product. That has become one of our distinguishing factors.” Other than this, customers can countercheck the details of any LG product on the website. With a strong presence in the East African market, LG seeks to stamp its authority as the premier electronics supplier that’s powered by the IoT technology. “We are excited about IoT and the range of devices that we have lined up for the Kenyan market,” concludes the executive. July 2018 Startupmagazine.co.ke
20
My Hustle
First Class Cars Concierge: Redefining the travel experience with a touch of luxury “The idea was to provide exceptional services in the travel industry through use of good world class automobiles that will give our clients a sense of style and classic experience as they travel. There are people who won’t mind classic experience at a slightly higher price and First Class Cars Concierge are here just to make their dream a reality,"says Mr. Gikonyo. For a very long time, the service element in the taxi and travel industries in the country has been conspicuously missing and that's exactly what First Class Cars Concierge are delighted to offer. We want our customers to experiences to be unique as they enjoy the services provided. “Out of the 9 vehicles we are having, we have the three categories of the Mercedes V class, Mercedes X class and the overall benchmark of the four wheel drive range rover sports says the CEO.” Gikonyo Muchohi, CEO and Founder, First Class Car’s Concierge Services
By Adisa Hudson
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s a young CEO who has had an opportunity to globe trot, Mr. Gikonyo Muchohi has been privileged to experience the cab services in different parts of the globe. Out of all these experiences, he learnt the Startupmagazine.co.ke July 2018
art of precision and good services that saw him come back home and venture into the already flooded field of travel cabs services. However, he noticed a gap and capitalized on it, and that's how First Class Cars Concierge was born. Registered in 2014, First Class Car’s Concierge runs a fleet of 9 high end vehicles driven by highly skilled and trained drivers. The firm's services provide customers with comfort and luxury to make their lives easier as they travel from one place to the other.
The Mercedes V class is mostly popular among the corporate and individual groups who would want to be dropped and picked to and from a dinner, concert or other events in comfort through service delivery that gives value for their money. Mercedes x class vehicles are more common preference for executive purposes and business travel around the city for business moguls during their business trips. Range Rovers on the other hand services mainly the celebrities and other high end private jet owners who are more interested in the luxury than money related costs. Challenges However, there is cost that comes with
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MICRO FINANCE Mya, A popular American R&B singer being Chauffeured in a First Class Car’s Concierge fleet running up such an expensive venture that cannot be ignored.“Setting up the business hasn’t been easy because it is an expensive venture that needed huge sums of financial capital. Since we deal with high profile individuals and celebrities who in many cases would want their issues, visits and privacy ensured, I have had to organize and train the drivers on customer digression and confidentiality, he shares.” The drivers are equally well trained in advance level defense driving and intense knowledge about the city to be able to move around with clients with precision and not having to ask the client on which side a particular destination is located in the city. Complimentary services All our vehicles have WIFI and the moment we pick up the client, they have unlimited access to the internet as they are ferried around. Water, cold drinks, magazines are available to make our client comfortable. At additional cost and prior request, wine and champagne can be served.” Today, the firm has a team of 12 employees who perform different duties. The CEO is more concerned with the overall oversight on the quality of the vehicles. “I like to be consistent in whatever I do so I emphasize on the quality of the cars, quality checks and servicing so that the cars
“There’s this perception that coast residents are lazy and having worked with them before, I wanted to debunk this myth. That’s why I chose to go against the grain to launch my services there.” are in good conditions.” “Being a car enthusiast and passionate about what I do, consistency is what has kept me. I do not give my clients a reason to question the standard of our services. If anything, we get better by day.”
Philip Kibet, CEO and Founder, Micro-Cap Holdings
Projection We envision the firm grown to be a household name in the next three years. We also want to get an app for the fleet of business tailor-made for targeted clientele so that it becomes easier for them to get access to our services just via the mobile phone. Parting shot to entrepreneurs As a parting shot, he says, “We have issue as Kenyans when it comes to being successful; we want to be successful too quickly. We don’t want to build, we just want quick success! Let us change the narrative as young people. Be creative, look for a niche and find new things and build on that. Have a vision. Don’t copy and paste. Love what you want to do. Let it be passion driven and be consistent.” July 2018 Startupmagazine.co.ke
20
Insurance
Bima Intermediaries Association of Kenya: Driving Insurance Penetration in Kenya By Special Correspondent Formed in 2014, BIAK is instrumental in addressing the welfare of its members and a champion for best industry practices. Currently recognized as the umbrella body for insurance agents in Kenya, BIAK has over 9000 licensed insurance agents membership spanning over every county. It has changed the narrative of the Insurance penetration in the country. Startupmagazine.co.ke July 2018
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motes best industry practices. This came after the realization that the agents were previously excluded in key decisions and policy making processes for a long time. Their issues were not addressed, and if they were, they were being addressed by bodies that did not understand their welfare. Accomplishments
Washingtone Ndegea Chairman, Bima Intermediaries Association of Kenya (BIAK)
Insurance business in Kenya is lucrative but not necessarily a walk in the park. Kenya represents one of Africa’s most formidable and best-developed insurance markets, with good regulation but an almost fragmented sector at the agent level. For a longtime, the industry had two associations to represent the insurance firms and brokers, Association of Kenya Insurers (AKI) and Association of Insurance Brokers of Kenya (AIBK). The welfare of the top two players in the sector (insurers and brokers) was being taken care while agents were left out in the cold. In recent years, insurance penetration and accessibility has been improving steadily in Kenya. Kenyans are having more disposable income with the growth of the middle class opening room for more demand for insurance. Key to this growth is the presence of insurance agents who are responsible for over 70 per cent of the insurance premiums in the country. According to the chairman of the Bima Intermediaries Association of Kenya (BIAK), Mr. Washingtone Ndegea, the insurance premium constitutes sum amount close to Kshs 140 billion. Formed in February 2014, BIAK addresses the welfare of its members and pro-
After its formation, BIAK countered negative proposals when the insurance amendment ACT of 2015 came into force. There were draft proposals leading upto the Insurance Amendment Act of 2015 that did not auger well for the agent, insurance agents were being curtailed from dealing with many insurance firms and were expected to deal with only one company. According to Mr. Ndegea, this presented a big problem. Where would one take other businesses from other insurance firms? In his opinion, that could have affected the overall insurance penetration. Besides, there were also other harmful proposals like reduction of their commissions and forcing them to have a minimum capital requirement of Kshs 5 million; a proposition that would have locked out nearly all players from the industry. But the passing of the Insurance Amendment Act of 2015 opened up the playing field for all agents to represent all and any insurance company. The association also plays a key role in settling of disputes among its membership and between its members and other stakeholders in the industry.
Excellence Besides the forums, BIAK also came up with an annual ceremony to award excellence in the industry. “The awards are purely agents driven with the agents nominating a given company in all the classes of awards. This precedes a judging process overseen by independent bodies. We have had KPMG and business writers in the past as some of our judges.” The process is transparent and purely driven on excellence with every year’s experience getting better than the previous one. This year, the event is scheduled for November 2nd in a venue outside of Nairobi. Despite the association having major plans that it envisioned will champion insurance penetration, Mr. Ndegea is worried at the financial disposition of the association that limits its expansion. As such, he is calling out for agents to be active members and pay the subscription fees in time. He also looks forward to get funding from the government. “Going forward we have major plans to continue increasing awareness about insurance and get into partnerships to train our members to keep tabs with new developments and the industry dynamics. Plans are also underway to curb fraud and do away with rogue agents who have been downplaying the industries’ growth. For a long time, agents named have been tainted with fraud, we want to change that.” On the outlook, BIAK champions for innovation and excellence in the industry through best practices.
To be a member, an agent is required to pay an annual fee of Kshs 3,000 and a monthly subscription fee of Kshs 200. The fees are low to encourage membership growth, says Ndegea. BIAK further runs various activities across its calendar year but majorly on sponsorship basis. Of interest are the monthly forums which are held nationally at county level to educate agents and drive insurance awareness among the populace. July 2018 Startupmagazine.co.ke
22
Cover Story
MICROCAP HOLDINGS Building Success Through Innovative Financing Models By Wachira Kambogo
The company achieved one of its most significant milestones in 2016 when it split its businesses into three companies under Micro Cap Holdings. CEMES became the credit arm of Micro Cap while Ideon, a business outsourcing company, provides back office services like finance and HR to MicroCap and to any other company.
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lthough Kenya leads its East African peers in terms of financial inclusion, not many Kenyans at the bottom of the pyramid can actually access affordable credit to enhance their livelihoods. The 2017 Brookings Institution Report on financial inclusion shows that over 75 per cent of Kenyan adults have a financial account, but other factors, including risk profiling, conspire to deny most bottom-of-the-pyramid customers the much Startupmagazine.co.ke July 2018
needed access to finance. It’s this gap that prompted Philip Kibet and his partner to cofound Centenary Micro Enterprises Services (CEMES) in 2011. Their aim was to enhance financial inclusion. Started as a microfinance consultancy, CEMES worked closely with financial institutions like Saccos and microfinance institutions to develop products and services. Philip’s work was to research,
conceptualize and design microfinance products that could appeal to the targeted demographic. Having worked extensively in most of Sub Saharan Africa as a microfinance consultant, Philip says he noticed a worrying trend: Most financial institutions were ignoring the bottom of the pyramid segment as they saw it as high risk and economically unviable. As a true entrepreneur, he saw an oppor-
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PHILIP KIBET CEO MICRO-CAP HOLDINGS
July 2018 Startupmagazine.co.ke
Cover Story tunity and pounced on it. In 2014, he refocussed his business from a consultancy service provider to a financial intermediator, giving a financial lifeline to thousands of unbanked people. “I wanted to make it easy for people to access credit,” he says. To kickstart his new preoccupation, Philip pitched tent at the coastal town of Kilifi after he realized that most financial institutions were avoiding the Kenyan coast. “There’s this perception that coast resi-
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dents are lazy and having worked with them before, I wanted to debunk this myth. That’s why I chose to go against the grain to launch my services there.” His company started small, loaning out small amounts of money to locals. With no capital to set up proper systems, he had no other option but to run Excel sheets as an accounting system, a time consuming, error-strewn and unreliable method when scaled. “As more customers joined, Excel proved to be ineffective.”
Like most startups, his business soon faced serious headwinds. Philip had started this business as a side hustle as he held his day job, a decision that would later cost him dearly. In the first few months, he lost all his capital. His first employee, a greenhorn in the industry, lent all the available money to customers, leaving the fledgling firm in deep financial straits. Undettered by the setback, Philip soldiered on, roping in his friends to inject some cash into the struggling business. When he realized that the business was
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making no progress, he made a leap of faith and quit his job to focus on growing his venture. “It dawned on me that I needed to dedicate more resources to this venture. After quitting employment, I used my retirement money to breath life into this business.” This paid off in earnest.
AUTOMATION
33% “Our app generates a ticket that shows how much milk a farmer has delivered. Because it’s automated, it helps farmers to reduce wastage by up to 33 per cent.”
In 2015, CEMES made the list of over 1000 African startups that received seed capital and entrepreneurship training from the Tony Elumelu Enterprenuership Program. After the training, Philip and his partner used the seed capital to further grow the business.
production and to minimize post harvest losses.
Since then, CEMES has grown in leaps and bounds. From three customers at inception, the company boasts of a customer base of over 35 000, and an impressive annual income of over Kshs 187 million. With a staff complement of over 119 people, and 39 branches, no one can deny that the firm had been on a growth trajectory.
The app, which is tied to an electronic weigh scale, also records the milk data for farmers, enabling them to easily access credit using their milk delivery records. “Our app generates a ticket that shows how much milk a farmer has delivered.” Because it’s automated, it helps farmers to reduce wastage by up to 33 per cent.
The company achieved one of its most significant milestones in 2016 when it split its businesses into three companies under Micro Cap Holdings. CEMES became the credit arm of Micro Cap while Ideon, a business outsourcing company, provides back office services like finance and HR to MicroCap and to any other company.
The app works closely with co operative societies to reach farmers.
The third subsidiary is a franchise business named Credit Micro Franchise. Their credit arm provides financing to commercial enterprises. “CEMES is a mix of relationship banking and mobile banking. We have physical branches and a mobile application,” he says. It’s modelled around revolving credit. With time, CEMES has grown to incorporate an innovative agribusiness product that helps dairy farmers to track milk
According to Philip, the agribusiness product has been well received in the market. He says farmers can now use automated records to get credit from CEMES or from any other financial institution. “The product has increased their household income.” Micro Cap Holdings prides itself for having a robust branch network, but Philip appreciates that the company doesn’t reach as many customers as it would like to. That’s why they created a third subsidiary named Micro Credit Franchise. “To take micro credit to more customers, we sell franchises to local entrepreneurs who use our systems and our brand,” says Philip.
hind Micro Cap Holding’s success? “Mentorship, discipline, a good model, market linkages and great staff,” says Philip. He adds he was fortunate enough to learn the ropes of entrepreneurship from the Tony Elumelu Entrepreneurship Program as well as from the German International Corporation, and the German Chamber of Commerce. It’s hard to talk about lending without mentioning technology, an important cog in the wheel of the credit industry. For Micro Cap, their success was inspired by the introduction of a superior IT system that allowed them to serve more customers in an efficient way. Philip says technology is the lifeblood of the lending industry. Indeed, lenders have to use data to score their customers and to provide quality services. No company operates without facing challenges and Micro Cap is no exception. For them, they need to invest heavily to scale the business. But getting funds to do this is a challenge. To overcome this, the company is fundraising as it seeks to increase its footprint in East Africa. As part of its expansion plan, Micro Cap wants to increase its asset base to 0.5 billion within the next three years. Their main goal is to morph into a regional brand, with branches in Tanzania and Uganda. In the meantime, the firm is keen on enhancing the livelihoods of its customers through its three fully owned subsidiaries.
So far, the firm has sold over 30 franchises to entrepreneurs in Nakuru, Kiambu, Narok, Bomet, Machakos and Kajiado. So, what has been the driving force beJuly 2018 Startupmagazine.co.ke
SME Financing
How Momentum Credit aims to expand your possibilities through timely financial support
t here is no escaping the facts that small and medium businesses are the backbone of the Kenyan economy. Like any other entrepreneurs across the globe, Kenyan entrepreneurs often find themselves facing stubborn financial straits. When this happens, their businesses implode. Cash constraints bite hard, culminating in staff layoffs. In extreme cases, businesses close shop. Unlike their counterparts in the developed world who can easily access affordable credit, local entrepreneurs have few options. The statistics are scary. Data from the Kenya National Bureau of Statistics shows that 52% of all loan applications made by SMEs were rejected by banks and other financial institutions. JOB MURIUKI CEO MOMENTUM CREDIT
Startupmagazine.co.ke July 2018
To change this narrative, a non bank and non deposit taking financial institution is introducing an innovative way of financing SMEs. StartUp Magazine got in touch with Job Muriuki, the CEO of Momentum Credit Limited to discover how
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tract more vehicles for my work and I was cash strapped then Momentum Credit came calling. I made inquiries and found out that the requirements were reasonable for a small business like mine. It took me less than 24 hours from the time of application to actually getting the money, says Kiprono.
BRIAN NOAH MD SKEME ADVERTISING
He was also wowed by their customer support team. “There is a time I knew I would delay repaying the loan and all I needed to do was to call them. They understood my dilemma and renegotiated a better repayment terms. I later cleared the loan comfortably. I believe I will go along way with Momentum Credit’s financial support.” the firm gives SMEs a financial lifeline. We also went ahead and run snippets of their happy customers and how they have benefitted financially for the creditor. According to Muriuki, opportunity cost is the greatest cost in both business and in life. And what would you do when you have all the resources you require to do something? Simply amazing! “As Momentum Credit we look to eliminate that greatest cost in business through innovative financial models. We have a group of products that are optimised in helping a business access working capital.” True to their words, Momentum Credit has supported Skeme Advertising Group with working capital which has greatly boosted their operations. Brian Noah, the MD of Skeme Advertising Group says that they needed someone who can give them the quickest turn around period. “We had little option but to head to Momemtum Credit.” “Since then anytime we needed a financial help they have always been at hand to offer us one. That has in turn enabled us to execute our projects to our level best,” says the business man.
need a cash injection please come and visit us.” Kenneth Kiprono, a businessman in the logistics space could also not hide his joy when asked about Momentum Credit’s financial impact on his business. “I always need money all the time to get the job done. But there has always been a cash flow problems,” he says.
Muriuki says there are other financial products they offer like logbook loans. These are quick cash instruments that can help one access funding within 24 hours. “Above all, we exist to provide alternative credit to SMEs and expand their possibilities.” Muriuki concludes that their vision is to transforms structured non-bank financing across Africa.
“There is this moment I wanted to con-
KENNETH KIPRONO BUSINESSMAN
Our flagship product is called invoice factoring, Muriuki goes on. “Basically it is a form of financing where a business sells invoices to a third party at discounted prices. So if you have unpaid invoices and July 2018 Startupmagazine.co.ke
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Human Resources
Employers must embrace continuous learning and employee development
Perminus Wainaina
Perminus Wainaina is a Certified HR Consultant and the Managing Partner at Corporate Staffing Services where he manages a team of 20 staff. He helps CEOs, executives, and managers solve their biggest HR pains, dysfunctions, and key challenges and turn their teams into a well-oiled machine that contributes dramatically to business success.
Startupmagazine.co.ke July 2018
As an Employer, you are constantly under pressure on a myriad of company issues; From Management to employee engagement, and importantly customer satisfaction.
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ith all this on your plate, you may have undermined continuous learning and employee development. When you were carrying out recruitment, you remembered a degree and skills are milestones in qualifications. What you forgot is that, by employing them you were enrolling them into a new journey of continuous learning and development. Sadly, most employers have not fully embraced continuous learning as they feel it would be more beneficial to the employees rather than their companies. Wrong! Recently, I carried out HR training for HR Professionals and 90 percent of the attendees had paid for themselves. When I asked why, they said their employers felt like it is was not really necessary! This is the sad reality. So, why must employers embrace continuous learning and employee development? 1. Continuous learning is a tool for attracting great employees To begin with, the labour market is full of millennials who view individual jobs as development opportunities. This means that for you to recruit the best and brightest among them, you must focus on continuous learning. A good Continuous development program will play a large part in building a company’s image and reputation, which will spread and attract employees who are eager to learn, grow, and flourish with the business. It will also help you in retaining them. 2. It will help in Retaining top talent which is necessary for long-term profits and success Secondly, apart from attracting high talent retaining this talented and ambitious
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lot is an uphill task.
LEARNING
Your competitors are also looking out for this skilled lot hence if you limit opportunities in career growth and advancement, they will leave you. In my daily recruitment tasks, employees cite career development support as a key priority when looking for a new job, but they don’t always get it. What about loyalty to the company?
Continuous learning will not only make employees feel more valued, but also more competent and confident in their hence improved productivity.
3. Continuous learning will Improve Employee Loyalty to the company Similarly, Younger employees, particularly millennials, value workplaces that focus on mentorship and help them reach new heights in their careers. Most of them feel happier at their jobs when bosses care about their success and goals beyond the company. When you actively invest in your employees and their futures, employees will feel more loyal and more inclined to remain with the company. Continuous learning will not only make employees feel more valued, but also more competent and confident in their hence improved productivity. 4. Continuous learning will promote Employee Satisfaction hence improved productivity Fourthly, most of us individually would not be happy to stand still; we are driven to progress and grow and same applies to employees. If denied these opportunities, they become bored with their careers regardless of how well your pay might be. This dissatisfaction will lead to unproductivity. Some companies no longer feel as responsible for their employees as they assume that most of them will stay for long. Employees do move from job to job more quickly in today’s economy and only companies that foster continuous learning see
employee satisfaction. Also, higher-skilled workers are more productive compared to lower-skilled workers and this will save you time, money and other resources. 5. It will help save Time, Money and other resources Last but not least, helping an employee improve is much easier than replacing them! For example, as an employer, there comes a time when you need to let someone go. There are costs implications that include severance pay, unemployment taxes and the loss of valuable time and energy incurred when looking for a replacement. Opting to spend money elevating your current employees as opposed to hiring new ones could be the best option. To sum it up, Continuous learning is a must for the success of both employees and companies. This can be inform of seminars, workshop, specialized certificate programs and collaborative learning at workplace. Also taking part time courses at University or College is one way.
July 2018 Startupmagazine.co.ke
30
Business Enterprise
The mobile mind- shift in today’s African consumers Today’s consumers rely on their mobile devices not just for communication but to perform a growing range of functions online; provided they get a seamless end-toend experience.
i Sherry Zameer
Zameer is the Senior Vice President, IoT solutions for CISMEA Region at Gemalto
n recent years, mobiles have become an identification device. Almost half (48%) of consumers globally, including South Africa, expect their mobile devices to become their main form of ID by 2025, according to a global survey conducted by digital security leader, Gemalto. Mobile devices are slowly but surely emerging as promising replacements for traditional ID cards due to new technologies like biometrics, with a single means of authentication to securely access online services, confirm transactions and sign documents. Gemalto’s survey finds that 70% would use their mobiles as passport or national ID if security was guaranteed. Technological evolution When it comes to the capabilities offered by smart phones, a key determinant is the quality of the networks. African mobile operators continue to spend large sums on upgrading their networks. Consumers today, expect super-fast data speeds, with half (50%) estimating over 100 Gigabit speeds will be normal. 5G, the next major advance in mobile connectivity, could potentially deliver speeds of up to 12 Gigabits per second, so there is still some way to go to meet consumer expectations.
Startupmagazine.co.ke July 2018
According to Gemalto’s study, 60% of respondents anticipate their smart phones will be able to exercise full autonomous control over their home devices such as heating, lighting, windows, without any human intervention in the management of the system. This hands-off approach, would make their lives much more convenient, but require the devices to be trusted as reliable, secure and able to protect data privacy. Payment Experience Globally, mobile payments have soared in recent years and the research suggests this trend will continue. They have been slow to take off in South Africa perhaps due to the fact that the country has a developed banking system-take up has been stronger in other African countries. Nevertheless, there are signs that mobile payment is growing steadily², particularly in the retail and services sector. On the consumer front, almost half (45%) of consumers globally expect to be able to use mobile devices to pay for anything, anywhere, at any time by 2025, and 43% consider mobile as their preferred payment method. When it comes to mobile banking apps, banks will have to rapidly complete their digital transformations as almost half of consumers (42%) globally expect they will be able to perform all banking functions from their mobile device, by 2025, without any restrictions. Another key finding
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TRAVEL & LEISURE
from the research is that almost a third of respondents (29%) think they won’t need to visit a physical bank branch. Technology based on facial recognition and the uptake of online ID document verification, which enables a user to set up a new bank account without having to visit a bank’s branch, will dramatically facilitate any kind of enrollment for those willing to embrace a fully digital experience. Mobile Services and Data Privacy When it comes to data privacy, the study shows that consumers are, in many cases, open to sharing some of their data as long as they get tangible benefits in return. 34% would be happy to receive deals and advice in real time via location tracking, while 28% are open to share their browsing history information or online purchases to be offered better deals. Nearly one in five (19%) expects the cost of mobile subscriptions and services to be offset by advertising, and almost one in 10 (8%) say they would be prepared to trade personal data in return for partial or full discounts on their bill. Data privacy does, however, remain a major concern with 38% of respondents stating they don’t want any company to have access to their personal data,. Consumer
According to Gemalto’s study, 60% of respondents anticipate their smart phones will be able to exercise full autonomous control over their home devices such as heating, lighting, windows, without any human intervention in the management of the system. engagement with their mobile operators is also set to significantly change. The use of on-demand Artificial Intelligence (AI) is particularly interesting, with over a third of respondents (34%) believing this will be a possibility in the future, 28% already seeing their mobile operator as a digital assistant and 33% expecting a highly-personalised service from their mobile operator. “Today’s consumers in Africa have different set of expectations as they did in the past. They want their mobile devices to be fast and efficient, enabling them to authenticate, book tickets, control gadgets in their home and so much more,” says Sherry Zameer, Senior Vice President, IoT solutions at Gemalto.”The region needs to adapt to these changing expectations which calls for more business collaborations within the mobile market and beyond.”
Very little is known about this remarkable laid back village that boasts of a spectacular site.Compared to the renowned Hells Gate in Naivasha, even the frequent travellers to the Coast can hardly speak about the Hell’s Kitchen. Also known as Marafa Depression, Hell’s Kitchen is located in the outskirts of Malindi.
Adisa Hudson talks of her adventure to Hell’s Kitchen in Malindi
July 2018 Startupmagazine.co.ke
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Innovation
Gilbert Saggia
Saggia is the Managing Director: East Africa at SAP Africa
SMEs, partners must collaborate to fast track cloud adoption in East Africa African small and medium enterprises (SMEs) are facing unprecedented disruption. While large global disruptors have claimed most of the news headlines, SMEs face the same threat from disruption as their larger, more established peers. Of the companies featured on the Fortune 500 list in 1955, only 12% were still on the list in 2015. The rest were acquired by a larger competitor, filed for bankruptcy, or simply faded away into relative obscurity. Technology is driving sweeping changes across entire industries, unseating market leaders in a matter of months. As the likes of Kodak, Blockbuster, and RIM can attest, the cost of not adapting to disruption is often outright business failure. Digital transformation is therefore imperative for modern SMEs, as it enables them to streamline back-office operations and free up time and resources to focus on their core business. According to the World Economic Forum, SMEs contribute to around 80% of the African continent’s employment, driving the creation of a new middle class and fuelling demand for new goods and services. Of late, SMEs have also seen a leveling of the playing field with their larger competitors: in a recent IDC study, more than 70% of SMEs
Startupmagazine.co.ke July 2018
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that have adopted cloud services said their highest expectations in terms of benefits were met or exceeded. In a separate study, two out of five SMEs saw their smaller size as an advantage over bigger companies as it allows them to move faster and take advantage of emerging opportunities. Cloud supporting SMEs as key economic drivers Most SMEs simply don’t have the manpower to deal with peripheral issues and have a hard-enough time keeping up with the pace of change. The increased complexity of the IT landscape, driven by new technologies and solutions coming into the market at a staggering pace, is also easier for larger companies to manage as they can afford to invest time and resources into understanding how these technologies will impact their business. Smaller companies struggle to do this, instead focusing more on the day-to-day operations required to survive. Fortunately, cloud platforms are providing SMEs with access to IT applications and capabilities that was once the reserve of large enterprises with deep pockets. These democratised technology and services are leveling the playing field as businesses leverage the cloud to reduce costs, boost productivity, and respond to customer demand with speed and agility through a range of digital transformation initiatives. Partners on the journey to the cloud Cloud providers also play an integral role: by taking on some of the responsibility for keeping up with the pace of change, SMEs can focus on their business models and how they translate the availability of cloud services into business outcomes. SMEs no longer need IT departments, servers, and other expensive hardware. Even IT skills can be outsourced to trusted partners, who can equip SME owners with the technology tools they need to make their businesses more successful. Partners also provide insight, products, and services that create business impact and so help SMEs become better placed to survive and thrive in a disruptive environment. Exponential technologies such as machine learning and blockchain
SOLUTIONS
While large vendors are providing SMEs with unprecedented access to digital technologies, many SMEs face unique challenges or opportunities that require specific solutions.
further force a partnership approach: the time it would take for an SME to fully understand the intricacies and business value of machine learning would put them well behind competitors who leverage the knowledge and expertise of their partner networks. SAP’s partner network, for example, has access to a range of tools and global industry best-practice guidelines that can bring the business value of technology to life. By utilising templates in the SAP ecosystem, partners can quickly customise solutions by switching on and off the components that they need, speeding up the delivery of ROI to the customer. Increasingly SMEs also want to work with a solutions partner that understands their unique on-the-ground challenges, and want to build long-term relationships. However, SMEs still want the peace-ofmind of working with a big, stable brand. The ideal value ecosystem therefore consists of large solutions providers offering scalable cloud platforms, supported by local partners who can innovate and localise the solutions for specific SMEs or use-cases. Cloud providers evolve to support SMEs It’s not all on the partner though: SAP’s partner network has access to a range of tools and global industry best-practice guidelines that can bring the business value of technology to life. By utilising templates in the SAP ecosystem, partners are able to quickly customise solutions
by switching on and off the components that they need, speeding up the delivery of ROI to the customer. Technological disruption is also changing buying behaviour, creating new engagement models, opening-up opportunities for new business models, and enabling real-time decision-making built on accurate market and customer insights. Sitting at the centre of this is the SAP Cloud Platform, which forms the foundation of innovation within the modern business. In a market as diverse as that of the African continent, the ability to provide adaptable solutions that can meet a diverse set of needs is key. Partners who can guide their customers in how they leverage technology to create innovative business models – for example, per-patient-per-bed invoicing at a hospital, or everything-as-a-service solutions provision – are better placed to explore new commercial opportunities with their customers. While large vendors are providing SMEs with unprecedented access to digital technologies, many SMEs face unique challenges or opportunities that require specific solutions. Providers are no longer only selling standard solutions packages: today, this is only the starting point for a process of customisation and personalisation. Here, a strong partner ecosystem is invaluable in helping SMEs unlock the potential of their digital transformation. External partners can innovate and build upon the platform provided by larger solutions providers such as SAP, combining new applications with standard solutions to create entirely new value-generators. We believe this is the best way to support Africa’s growing SME sector. As we head to the crossover point – now predicted to be 2020 – at which IT expenditure for cloud services outstrips that of on-premise IT solutions, African SMEs should start engaging with vendors and partners who can fast-track their digital transformation and journey to the cloud, improving their competitiveness and providing some peace of mind that their business can withstand the forces of constant disruption. July 2018 Startupmagazine.co.ke
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Travel & Leisure
Kenya’s North Coast Surreal Hell’s Kitchen! By Adisa Hudson
Very little is known about this remarkable laid back village that boasts of a spectacular site.Compared to the renowned Hells Gate in Naivasha, even the frequent travellers to the Coast can hardly speak about the Hell’s Kitchen. Also known as Marafa Depression, Hell’s Kitchen is located in the outskirts of Malindi. Arguably the most underrated site on the North Coast, Hell’s Kitchen is a peculiar sandstone gorge that might as well be left as Kenya’s best guarded-secret. It looks surreal and most people tend to confuse it for Hell’s Gate gorge in Naivasha.
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Mostly confused with Hells Gate gorge, Marafa Depression is locally known as Nyari - “the place broken by itself” in the Giriama dialect. The depression which was once a massive sandstone ridge was worn out by winds, rains, and floods forming a series of sharp gorges. The multicolored layers of the rocks overlaying against each other reveal whites, pinks, oranges, and deep crimsons, making the gorge particularly striking at sundown, when tones of the textured sandstone gullies are reflected and mirrored by orange glare of the setting sun. Located about 30kmNorth East of Malindi, Marafa Depression is an eroded sandstone canyon where jungle, red-orange, pinkish and milk powder rocks and cliffs heave themselves into a distinct stunning landscape that forms the gorge. Approximately an hour’s drive from Malindi town lies the small unassuming village with conspicuous baobab trees; Marafa Depression is remote enough with rustic setup of the country side to give one an incredibly natural wonder picturesque of the rural Kenya Coast. Possibly the most underrated site on the North Coast, Hell’s Kitchen offers an absolutely incredible natural wonder that is easily accessible from Malindi. The drive to the site is interesting with remote experiences of charming rural community’s normal day life as ladies carry bags and buckets of water on their heads, children cradling babies on their backs and occasional lone cyclists going about their business. When using personal means, a day trip would be a fantastic option that will allow you to enjoy the ambience of the beautiful African countryside and the amazing chunky baobab trees canopy hiding the mud houses by the road.
they narrate the story behind the Hell’s Kitchen. From the mouth of the legends of the village, there was allegedly a town located at the same spot where the gorge lies. One time, the people had a vision that the town would be moved. Every one moved except one old woman who refused to go with the rest. The abandoned town supposedly disappeared with the woman remaining behind to form the Depression. The mystery of the woman apparently explains the aroma of cooking rice emanating from the Hell’s kitchen in the evenings. Besides the story of the ghost woman, there are other tales around the gorge. Another school of thought believes that the depression was as a result of God’s wrath meted against the inhabitants of the family that lived in the area. This family allegedly wasexceptionally rich and indulged in extravagant living that they even bathed with milk from cows. God was so furious that He decided punish them by opening the depression and the ground beneath them swallowed the family. The depression therefore serves to warn of the dangers of excessive living through the white and red stone
(milk and blood) which were splashed all around this magnificent and bizarre landscape. In the old days, the depression was a site for performing rituals that saw many medicine men frequent the spot to sourcing for medicines and traditional herbs. The name Nyari was coined by the Wata Community who are said to have preceded the Agiriama people in the area. The overlaying of spikes and beautiful pillars that gives a blending combination of red orange and pink gorge is certainly the place for any rock enthusiast! If you are a teacher, it definitely a to go place with your Geography Class students for an amazing out of class rock formation lessons first hand! Public transport to Marafa can be challenging and as such advisable to use private means and tour vans. The place is equally hot with temperatures shooting to highest degrees imaginable. For that reason, carrying plenty of drinking water, sunscreen and wearing light clothes is recommendable. Enjoy your visit next time you are in Malindi!
Currently being managed as a local tourism site by Marafa Village,the returns are geared into financing local village programs and initiatives. The entrance fee is about ksh 300 and a tour guide fee of ksh 200. There is a guide to walk you round the expanse of the amazing gorge and guide you through a tour of the depression with spikes and sharp pillars as July 2018 Startupmagazine.co.ke
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Coffee Break
Book Review MIDAS TOUCH:WHY SOME ENTREPRENEURS GET RICH AND WHY MOST DON’T Author: Donald Trump and Robert Kyosaki Reviewer: Oroni Tendera
What makes a successful entrepreneur? What is an entrepreneur’s most important job? Donald Trump and Kiyoski provide answers to these fundamental questions in their book, Midas Touch. According to the authors, five qualities comprise success, and each is represented by one of your fingers. The thumb represents strength, the index finger suggest focus, the middle finger symbolizes a brand , the ring finger implies relationship and the pinky finger stands for the little things that still count. Together they comprise the Midas touch. If you don’t have it, the authors warn, you won’t make it big in business. Both authors take turns expounding on each principle by harkening back to their own personal experiences. Kiyosaki draws on his service in Vietnam and his failed attempt to build a financial empire out of Velcro wallets. Trump and Kiyoski assert than an entrepreneur’s most vital responsibility is to create high-quality , stable jobs. In a world of high unemployment and an economy that needs new jobs to recover, who is not hungry for a solution, something that will speed economic recovery? “As the middle class disappears there is only one or two ways you can go: rich or poor,’’ write the authors. Many will look up at the government for jobs, but Donald Trump and Kiyoski argue, “Government cannot create real jobs. Only entrepreneurs with the Midas touch can do that.” Trump alludes to his many escapades building New York city skyscrapers and hosting a reality TV show. The authors complement each other surprisingly well, as both men possess rare insights into the way business really gets done. This book is highly recommended for entrepreneurs or anybody desiring to venture into business. Startupmagazine.co.ke July 2018
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Talk to the Best Healthcare Providers with Ease and Convenience
•Daktari Africa is Kenyan Telemedicine platform approved by the Medical Practitioners and Dentists Board and by the Pharmacy and Poisons Board (2016) •Enables affordable video consultations and prescriptions •Currently with over 400 doctors (including Specialists) and 600 clients signed up, the site receives over 100,000 hits monthly •Also available at a Goodlife Pharmacy near you
For more information please contacts us: KMA CENTRE, 7th floor, Mara Road, Nairobi Phone : 0204 931 184 E: admin@daktariafrica.com
July 2018 Startupmagazine.co.ke
Startupmagazine.co.ke July 2018
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Coffee Break
Blog Review Blog name: tatianakaranja.com Founder: Tatiana Karanja Reviewer: Adisa Hudson Coming from an international school setup and upbringing, Tatiana began exploring her passion at a tender age. In fact, photography is something she began exploring at the age of 12 using her first mobile phone! Her blog is concerned with capturing moments using her revolving lens to share amazing visual stories with the world. After all, a picture tells 1000 words and she just knows how to adjust the lens to get the best picture to tell her stories.
In 2018, tatianakaranja.com was nominated for Bake Awards Best Photography blog category and she ended up grabbing the 2018 award for the same! Spiked by her hobbies of travel and adventure, Tatiana’s love for camping, nature and family has seen her capture interesting photos of both foods, nature, travel, weddings, engagement and so much more in the most exquisite way possible.
the world through the lens of her camera.” Photography is the story she captures but fails to put in words! She was born and raised in Kenya but spent the better part of her life globe-trotting, exploring and briefly living in several different countries including studying in both South Africa and The Netherlands.
Photography she says, “It is my platform to share my story and experiences with
Paying your Electricity Bill Paying your Electricity Bill with M-Pesa (Safaricom) 1. Select “Pay Bill” from the M-Pesa menu. 2. Enter the Kenya Power business number 888 888 / 501200 / 800904. 3. Enter your full Kenya Power account number e.g. 123456-01. 4. Enter the amount you wish to pay which should be between KShs.100 and KShs.35,000.00 5. Enter your M-Pesa PIN. 6. Confirm that all details are correct. 7. You will receive a confirmation of the transaction via SMS.
Debit Card / Credit Card
How to Buy Kenya Power Prepaid Tokens via M-PESA Paybill Number 888880/501200/800904 • Go to Safaricom SIM Tool Kit, select M-PESA menu, select “Lipa na M-PESA” • Select “Pay Bill” • Select “Enter Business no.”, Enter Kenya Power Lipa na M-PESA PayBill Number 888880/501200/800904 and press “OK” • Select “Enter Account no.”, Enter your Kenya Power Prepaid Meter Number (e.g. 0100 xxxx xxxx x) and press “OK” • “Enter Amount”, between KShs.100 and KShs.35,000.00 and press “OK” • Enter your M-PESA PIN and press “OK” • Confirm all the details are correct and press “OK” • M-PESA HAKIKISHA. You will get a notification with the intended recipient’s name e.g. “Pay Kenya Power KShs.1,000.00 for Account 0100 xxxx xxxx x Press 1 within 20 seconds to STOP this transaction.” • Kenya Power will then generate prepaid token valid for your meter and send via SMS.
Paying your Electricity Bill with Airtel Money (Airtel) 1. 2. 3. 4.
Select “Airtel Money’’ from the menu. Click on “Make Payments”. Select “Paybill”. Choose Kenya Power Bill for postpaid bill OR Kenya Power Prepaid for purchase of tokens. 5. Enter the amount you wish to pay. 6. Enter your Airtel Money PIN. 7. Under the reference option, type your full Kenya Power account number e.g. 12345601. 8. Confirm that all details are correct. 9. You will receive a confirmation of the transaction via SMS.
You can check your Kenya Power bill by sending the first part of your account number e.g. 123456 by SMS to 95551.
Powering people for better lives
July 2018 Startupmagazine.co.ke
At the back
Song Review
Title: Everything is Love Beyonce and Jay-Z Review by Kate Moulton
Startupmagazine.co.ke July 2018
Beyoncé and JAY-Z Renew Their Vows on Everything Is Love Beyoncé and Jay-Z have pulled a Beyoncé and Jay-Z and surprise-dropped yet another album — but this time, as a couple. Their first-ever joint album Everything Is Love — the one that’s been percolating since even before Lemonade and 4:44 — was released on Saturday evening on June 16 at the end of the duo’s London show on their On the Run Tour II with one casual parting announcement: “Album Out Now.” Out! Now! The nine-song album, complete with one visual component and a bonus track, is streaming in full on Tidal as we speak. With their trilogy recounting marital strife to remarried bliss now complete, what do we make of this closing chapter? From the shots at Trump, the NFL, Spotify, the Grammys, and Kanye West, to the Blue Ivy cameo, to filming a music video in the Louvre, the album debut at No. 1
on Billboard’s Top R&B/Hip-Hop Albums chart (dated June 30) with Everything Is Love, which earned 123,000 equivalent album units in the week ending June 21, according to Nielsen Music. Four Love songs debut on the Hot R&B/ Hip-Hop Songs chart, led by “Apes**t” (No. 9), whose entrance stems largely from its 24.1 million streams in the tracking week. Beyond “Apes**t,” The Carters arrive with “Boss,” (No. 38), “Summer,” (No. 42) and “Nice” (No. 48).
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July 2018 Startupmagazine.co.ke
Startupmagazine.co.ke July 2018