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FEATURE Star Rentals Banks on Innovation and Excellent Customer Service to Thrive
OPINION Your Business: Why Others Grow While You rs Struggle
HOW ZENKA FINANCE IS CHANGING DIGITAL LENDING IN KENYA
TRAVEL
Nairobi Animal Orphanage: Championing Wildlife Conservation Through Rehabilitation
Zenka CEO Robert Masinde discusses how the recently formed digital lender is redefining the credit landscape in the country July 2019
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Contents
14 Dave van Niekerk on Building Africa’s Most Formidable Fintech
18 Zenka CEO Robert Masinde discusses how the recently formed digital lender is redefining the credit landscape in the country
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26 Spreading Ideas, Innovation across Africa at the Speed of Thought
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Nairobi Animal Orphanage: Championing Wildlife Conservation Through Rehabilitation
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Contents 12
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Leasing
Your Business: Why Others Grow While Yours Struggle
Star Rentals Banks on Innovation and Excellent Customer Service to Thrive 14
Interview
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OMN IC H
TAILORE D IN N
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THE ELEMENTS OF THE SUCCESSFUL LENDING COMPANY
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BUSINES
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Coffee Break
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Leadership Character in Leadership
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Cover Story
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Innovation Spreading Ideas, Innovation across Africa at the Speed of Thought
Dave van Niekerk on Building Africa’s Most Formidable Fintech
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Business Enterprise
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www.zenka.co.ke
HOW ZENKA FINANCE IS CHANGING DIGITAL LENDING IN KENYA Zenka CEO Robert Masinde discusses how the recently formed digital lender is redefining the credit landscape in the country
30. 34. 35. 37. 38.
Travel and Leisure Book Review Pictorial Blog Review Song Review
July 2019
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INSIDE
>Innovation
A Sure Bet to Keep Africa Moving Forward
> Koto Housing
Build Your Dream House in Only 21 Days
> Interview; Andrey Yakunin Understanding the hospitality market in Russia
>Travel & Leisure What to Know about the Marine Parks at the Coastal Kenya
The Driving Force To a Successful Family Business Esther Muchemi, CEO and Founder, Samchi Group of Companies
January 2018 I startupmagazine.co.ke
Managing Editor Sylvester Habil Okumu sylvester@startupmagazine.co.ke
Photographer Versatile Photographers
Associate Editor Adisa Hudson Oroni Tendera
Creative Designer Kreative Hub Media
Contributors Njeri Muchunu Pedro Guerreiro Edwin Kimani
Published By
Business Development Washingtone Terry Nickson Juma Marketing Executive Irene Okoth Operations Simpson Ayodi
Contacts 4th Floor, Bihi Towers, P.O Box 3875-30200, Nairobi Kenya. Cell (+254) 724 113 683 (+254) 776 061 644 Email: info@startupmagazine.co.ke Website: www.startupmagazine.co.ke StartUp Magazine EA @StartupMag_EA
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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
Digital Lending in Kenya The July Edition of StartUp Magazine features incisive stories that are currently defining the regional business landscape. For our cover story, we interviewed Robert Masinde, the ceo of the recently formed Zenka Finance-a disruptive digital lender in Kenya. In the interview, he shares Zenka’s disruptive model and why it is set to redefine digital lending in Kenya. He also shared his thoughts on the credit industry and why it is a key ingredient in the social and economic transformation of Kenya. In addition, we featured Star Rentals, a startup in the leasing subsector. The firm has managed to build a asset base of Ksh 250 million in just under a year. In
the opinion sector, you will get to know how you can revive your business, getting the right character for leadership among others. Oroni Tendera winds up on a well written article on how Nairobi Animal Orphanage is championing wildlife conservation through rehabilitation. Enjoy your read. info@startupmagazine.co.ke
July 2019
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StartUp Stories
Letters to the editor “Africa as a whole yields a market of 1 billion people, albeit with trade restrictions and other challenges that might prove obstructive. Yet, with more high-impact pan-African entrepreneurs, Africa may be able to more than keep pace with the world’s emerging economies.”
Sangu Delle, CEO of Golden Palm Investments GHANAIAN Sangu is a vibrant and very influential Ghanaian entrepreneur. He is the MD of Africa Health Holdings, a company based in Ghana. His healthcare team has built a successful chain of hospitals in the country which they hope to expand regionally in the near future. He also serves as the founder and chairman of Golden Palm Investment Corporation-a holding company that invests in early-stage venture and growth capital across Africa. GPI has backed start-
ups such as SOLO mobile in Nigeria, Stawi Foods in Kenya and mPharma in Ghana. Sangu is also the co-founder of Cleanacwa, which is a nonprofit working in underdeveloped communities in Ghana to make sure that water and sanitation, basic human rights, are provided. He holds graduate degrees in African Studies and Economics from Harvard College and is currently pursuing and MBA and Doctor of Law from the same college.
“We’ve built systems that have improved operational efficiency for many organisations across the continent, but our biggest success, so far, was establishing our research arm that has inspired and trained hundreds of Rwandan youth over the past three years to be at the forefront of Africa’s technology revolution,” Clarisse Iribagiza, CEO of HeHe Ltd RWANDAN Clarisse Iribagiza is the CEO and Co-founder of DMM.HeHe, a leading technology company that develops innovative technologies that enable businesses to optimize their operations and reach more customers anywhere and on the go. DMM.HeHe serves over 2 million users across Africa, enabling business to offer their products and services on-demand and guaranteeing great customer experience to the last-mile. She founded her business in 2010 at the age of 22 as
a junior at University of Rwanda’s College of Science where she was pursuing a BSC in Computer Engineering. This was after a Massachusetts Institute of Technology (MIT) incubation program where she was able to connect the dots between what she was learning in school and how she could immediately apply it in the real world. Clarisse is also a member of the Presidential Youth Advisory Group at the African Development Bank and is currently pursuing a Master of Business Administration (MBA) at Africa Leadership University.
“SMEs still face a number of challenges in Francophone Africa. The biggest roadblock facing SMEs in the region is access to finance. Without capital, SMEs cannot grow. Without growth, SMEs cannot tackle unemployment properly.” Issam Chleuh, CEO, Africa Impact Group MALIAN Issam Chleuh is an Investment Executive and Thought Leader who pioneered impact investing in Francophone Africa. His work has been featured on The Economist, Forbes and CNN, among others. Among other awards, Issam has been named by Forbes as one of 30 Most Promising Entrepreneurs in 2014, 2015 and 2016 and by Take Part magazine as one of 10 Amazing Millennials who are saving the
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world. Prior to launching Layidu Impact Fund and Impact Hub Bamako, Issam founded Africa Impact Group, an award winning research and advisory firm focused on impact investing in French West Africa. The firm’s services include data and research, news, advisory services and startup incubation. Issam has invested in over $500 millions of Private Equity, SME and VC funds throughout his career.
Disruption in Logistics I am an investor in the logistics industry in Kenya and I must share my thoughts on the feature that premiered on the last edition of StartUp Magazine as a cover story. The industry has massive potential but it has been lagging behind because of inefficiencies. The use of Tech, IoT and other timely innovations is welcomed in improving efficiencies and unlocking more opportunities within this space. This will enable players to reap more benefits for their investments and the overall impact to the economy will be massive. Ahmed Khalif Entrepreneur, Mombasa
Incisive Features I run through your website and I was impressed with the kind of content that you publish. Your features are incisive and serve to highlight the existing opportunities within the startup landscape in the region. I was more impressed with your print edition when I had a chance at it. Keep doing the good work. Linda Onyango Investment Consultant, Nairobi
Loneliness in Leadership Njeri Muchunu’s feature in your last edition of the magazine about loneliness in leadership was spot on. We have a lot of business and political leaders who struggle with loneliness at the top. More often, the higher you go, the lonelier it becomes. Leaders are human, more like ordinary people and face ordinary problems. But most of them are normally affected by issues that people assume that they can deal with easily because of the status they hold in society. It is never that easy. They also need to be hand-held and guided to be the best version of themselves. Anita Mwangi, Corporate Leader, UK
HAVE YOUR SAY ONLINE 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
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News Prosper Africa – Initiative to boost trade and investment between the U.S. and Africa The new Prosper Africa initiative reflects the U.S. government’s belief that open and transparent economies should determine the future of African countries. On his recent trip to Sudan, Ethiopia, Mozambique, and South Africa, U.S. Assistant Secretary for African Affairs, Tibor Nagy stressed that the US wants to be Africa’s trade and investment partner. He explained that the initiative will focus on synchronizing the efforts of U.S. government agencies to facilitate more deals between U.S. and African businesses and to address trade and investment barriers. “The US recognizes that Africa is a vibrant economy and critical trade partner, with six of the 10 fastest-growing economies in the world and more than 1-billion consumers. The continent is already playing a pivotal role in the global economy, with consumer purchasing power reaching $1.6 trillion in 2017,” Assistant Secretary Nagy stated. Emphasizing that Prosper Africa is not a new development, but a strategic investment, Mr. Nagy said, the initiative will greatly benefit countries that support private sector ambition and innovation. “Meanwhile, producers in African countries can see a US consumer market of more than 300-million
people with a purchasing power of $13-trillion – the largest in the world,” Mr. Nagy said. This initiative will also expand mutually beneficial trade and investment, increase the self-reliance of African economies, grow the middle class in African countries and improve business climates across the continent. Prosper Africa will also actively support African companies’ efforts to trade and partner with US companies and invest in the US’s vast market. The initiative will focus on three primary activities: First, it will modernize and synchronize US government capabilities and efforts by providing a “onestop shop” capability for two-way trade and investment with the African continent. Second, it will facilitate transactions by coordinating US government agencies to help facilitate, expedite and mitigate the risk of transactions between American and African firms and investors. And third, it will focus US agencies’ support to African partner governments, helping them identify and address policy, regulatory, capacity and logistical barriers to private sector trade and investment with the goal of fostering business climates that are mutually beneficial for the US and Africa.
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brand, Nigeria’s Dangote, was the most admired African brand, with South Africa’s MTN and Ethiopia’s Anbessa rounding out the Top 3.
News
In a geographical spread that covers brands from 25 countries in Africa, North America, Europe and Asian brands lead the list with 41%, 28%, and 17% respectively rounding up the continental spread of brands Africans admire. “One of the biggest challenges facing Africa is transforming its vibrant entrepreneurial energy and environment to create competitive brands that meet the needs of its growing consumer market, says Thebe Ikalafeng, Founder and Chairman of Brand Africa and Brand Leadership. “More importantly, as is evident with Safaricom, Mpesa and Tusker, the leading made in Kenya brands, the next biggest challenge is retaining the ownership of these brands and ultimately the profits in Africa. These rankings are an important metric of and challenge for creating home-grown competitive African brands that will transform the African promise and change its narrative and image as a competitive continent.”
Kenya’s Best Brands 2019 The NSE in partnership with Geopoll, Kantar, Brand Leadership and africapractice, hosted Brand Africa’s announcement of the Most Admired Brands in Kenya. The list, the 7th annual Brand Africa 100: Africa’s Best Brands, is based on the comprehensive pan-Africa survey of the most admired brands among African consumers. In the Kenya and regional results, which are dominated by non-African brands, Coca Cola was recognized as the overall Most Admired Brand in Kenya. Safaricom leads as the Most Admired Brand Made in Kenya and the Most Admired Made in Kenya Brand Listed on the Nairobi Securities Exchage. In recognizing the catalytic impact of media and financial services in Africa, Brand Africa has a separate prompted question in the survey to highlight the Most Admired Financial Services Brands and Most Admired Media Brands in Africa. In the media sub-survey, where the pan-African list is dominated by Europe (40%), North America (20%) and Asia (20%) by global media brands with extensive pan-African reach, UK’s BBC, South Africa’s DSTV, USA’s CNN, Qatar’s Al Jazeera and France’s RFI lead the list of most admired media in Africa. In Kenya, Citizen Television was recognized as the Most Admired Media Brand Made in Kenya. Where the pan-African media category albeit dominated by global brands, remains fragmented with numerous local and regional brands in all markets, the financial services category is relatively consolidated and African – with 64% of the Top 25 financial services brands, led by Togo’s Ecobank (#1), South Africa’s FNB (#2) and ABSA (#3) among the Top 10, are all made in Africa and pan-African. Kenya’s KCB was recognized as the most admired financial services brand in Kenya. Safaricom’s Mpesa (#13), retained its pole position among mobile money brands with Orange Money (#18), MTN Mobile Money (#19) and Tigo (#23), underscores the impact of not
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only Mpesa as the catalyst, but mobile as a key enabler for financial access. In a comparison of the most admired brands in Kenya versus East Africa region, while Nike is leading brand in East Africa, Coke is the leading brand in Kenya. Fifty percent of the brands, all non-African – Coca Cola, Samsung, Airtel, Apple and Nike – are common between Kenya and the region. In a category analysis, Kenya Airways (Aviation/ Transport), Citizen (Media), Safaricom (Telecoms), Tusker (Alcoholic Beverages), KCB (Financial Services) are the leading Made in Kenya brands in a list that’s 50% African (Kenya) and 50% non-African. Established in 2011, the Brand Africa rankings, developed by pan-African branding and reputation advisory firm, Brand Leadership Group supported by GeoPoll the world’s leading mobile surveying platform, and strategic analysis and insights by Kantar, the world’s leading data, insights and consulting company. The rankings are based on a comprehensive survey among a representative sample of respondents 18 years and older, conducted in 25 countries which collectively account for 80% of Africa’s population and 75% of the continent’s GDP. In the main overall Brand Africa 100: Africa’s Best Brands list announced in May at the JSE in South Africa, while the top 100 is relatively stable, African brands faltered to an all-time low of 14% share of the Top 100 most admired brands in Africa. Oover the past three years Africa’s share of the most admired brands has declined from a high of 25% in 2013/14 to lows of 16% in 2015/16, 16% in 2016/17 and 17% in 2017/18 respectively. In the Top 100, the US sports and fitness mega brand, Nike retained the overall #1 brand in Africa spontaneously recalled by consumers. The most admired African brands spontaneously recalled by Africans were South Africa’s leading pan-African telecoms brand, MTN, followed by Ethiopia’s Anbessa and Nigeria’s, Dangote. Where consumers were prompted to recall an African
GeoPoll used their sophisticated mobile survey platform and its proprietary access to a database of over 250 million respondents in emerging markets around the globe to identify the most admired brands in Africa among a representative sample of African consumers. “The scope of the Brand Africa study across such a diverse sample and geographic spread would be impossible to achieve using traditional research methodologies,” says Nicholas Becker, GeoPoll CEO. “Using GeoPoll’s mobile-based research platform and large panel of respondents, we were able to quickly gather more than 15,000 brand mentions from 25 countries in Africa, providing brands with valuable data that will inform their growth. GeoPoll was pleased to partner with Brand Africa once again to gather this vital research across Africa.” Kantar analyzed the resultant 15 500+ brand mentions and 2 200+ individual brands and created a weighted scoring to produce the Top 100 brands. “The key to success for building sustainable brands, irrespective of origins or domicile, is to establish an emotional connection, creating intimacy and being more present in consumers everyday lives. This survey, a complex analysis of diverse data and countries to arrive at a representative ranking, is an important metric of the brands that play that are doing a better job and playing a vital role in Africa,” says Karin Du Chenne, Kantar, Chief Growth Officer Africa Middle East. “The Nairobi Securities Exchange applauds the businesses and specifically the Made in Kenya brands that were recognized as among Africa’s Best Brands in the 2019 Brand Africa 100 list which reflects Kenya’s position as East and Central Africa’s leading economy and hub for creating great brands,” Geoffrey Odundo, CEO – Nairobi Securities Exchange. “Our aim as the NSE is to continue to provide a world class platform that enables growth through innovative products to meet the needs of our clients and contribute to the wealth of the African continent.”
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News SAP and BMZ join forces to create more jobs in the digital sector in Africa
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LEASING Star Rentals Banks on Innovation and Excellent Customer Service to Thrive
PG. 14 German software company SAP and the German Federal Ministry for Economic Cooperation and Development (BMZ) plan to jointly create 450 jobs for highly qualified personnel in the IT sector in ten African countries. The collaboration, which was presented in Berlin today by German Development Minister Gerd Müller and by Michael Kleinemeier, member of the Executive Board of SAP SE and head of SAP Digital Business Services, targets unemployed university graduates. They will undergo a three-month training programme, followed by assistance to help them find jobs in local companies. The programme will cover Algeria, Angola, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Kenya, Morocco, Nigeria and Tunisia. These countries have great potential for jobs and growth in the digital sector, but they lack well-trained specialists who can support companies and institutions as they introduce and operate software products. The project addresses this bottleneck. Its first phase will start this year in Egypt, Ethiopia, Morocco, Tunisia and Nigeria. As part of the overall programme, 600 unemployed university graduates will receive training and certification for jobs in the local IT sector, the aim being to place at least three out of four programme graduates into employment. This means that a minimum of 450 new jobs could be created which employers previously could not fill because applicants did not have the necessary skills. “Africa’s young people need opportunities for the future - and they urgently need jobs that are viable and that help close the digital divide and make headway on development. To that end, we have to seize the great opportunities offered by digital technology. That will only be possible by working together with the private sector. I thus greatly welcome our cooperation with SAP. We need more projects of this type in order to create lasting momentum for Africa’s development, especially in the field of technology,” said
German Development Minister Gerd Müller. SAP Executive Board Member Michael Kleinemeier said, “Africa has the youngest population in the world. By 2050, its population will double, reaching more than 2.5 billion. Giving young people digital skills and IT training will create jobs and boost growth in Africa. SAP has been supporting Africa for several years through training and upskilling programmes in the digital sector, for instance the Young Professional Program and Africa Code Week. Our new collaboration with the BMZ provides additional opportunities for Africa’s young people and helps the continent to tap its enormous potential.” The joint programme is planned to cover a period of three years. It emerged from the Strategic Partnership “Digital Africa”, a network uniting German development cooperation players and European companies. The BMZ supports the joint endeavour through its develoPPP for jobs programme, which fosters sustainable private sector initiatives in selected countries in Africa as part of the Special Initiative on Training and Job Creation. The programme will be implemented by the SAP Training and Development Institute as part of SAP’s established Young Professional Program, which has already created more than 2,200 jobs for jobseekers with higher education degrees in 22 countries around the world.
INTERVIEW Dave van Niekerk on Building Africa’s Most Formidable Fintech
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DIGITAL CREDIT HOW ZENKA FINANCE IS CHANGING DIGITAL LENDING IN KENYA
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LEASING
Star Rentals Banks on Innovation and Excellent Customer Service to Thrive By Oroni Tendera
In the majority of African countries, high interest rates and prohibitive collateral requirements prevent most businesses from securing the necessary credit to acquire expensive machinery, equipment or vehicles. Traditional banking and commercial credit are, therefore, often only available to the top end of the market.
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The acquisition of assets-particularly expensive capital equipment-is a major commitment for many businesses. How that acquisition is funded requires careful planning,” says Oscar Saina, the general manager at Star Rentals. He opines that rather than pay for the Startupmagazine.co.ke
July 2019
asset outright using cash, it always make sense for businesses to look for ways of spreading the cost of acquiring an asset, to coincide with the timing of the revenue generated by the business. Thus the most common sources of medium term finance for investment in capital assets are asset-leasing or asset-finance. IFC defines leasing as an alternative method of payment for the use of equipment such a vehicle, machinery or any manufactured instrument over a speci-
fied period of time. “In its simplest form, leasing is particularly useful as a financial instrument for businesses in Kenya because it reduces the initial capital requirements for acquiring equipment,” notes the executive. The idea to start Star Rentals was initiated in 2014 and finalized in 2016 when the company officially begun its operations. The firm is part of the larger logistics heavyweight, Siginon Group. At the outset, we foresaw huge opportunities in the industry, says Saina. “The cost of acquisition of assets for businesses was overwhelming. The government had also capped the interest rates which locked out many small players from traditional forms of financing. So, most of them opted for asset leasing.” At the same time, the Government of Kenya adopted leasing as the framework to provide access to a largely increased number of well-maintained and utilized vehicles. This stemmed from the hindsight that public service transport system had generally been inadequate to meet GoK service delivery requirements due to the age, condition and poor utilization of government vehicles. “So the pie was basically large enough for any player,” notes the GM. Initially established as an independent asset leasing firm, Star Rentals understood the success of its customer’s businesses would not be judged by solely on their bottom line, but on a complex myriad of factors, including their underlying capital assets. “As such, we partner with our customers to visualize their objectives, thereby making it easier for them to acquire used or new equipments that can help their businesses grow,” offers Mr. Saina. “We are flexible and deliver solutions with a difference.”
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Oscar Saina, GM, STAR RENTALS Since then, Star Rentals has set itself apart by blending innovative leasing products and services with excellent customer service. This has contributed to consistent growth and enabled further portfolio diversification as client’s need changes. “As a startup, we had no track record. So we narrowed our focus to corporate players who understood leasing and its implications in the world of business. It was an uphill task to focus on clients who did not understand the leasing concept,” he reveals. From the initial vehicles and machinery leasing products, the firm has now expanded its portfolio to now include office and ICT equipment, construction and mining equipment, medical and security equipment, agricultural equipment and airport ground handling, and many more. Over the years, the firm has assumed its place at the pinnacle of the competitive leasing industry in East Africa. Its success in the industry is punctuated by massive projects it has successfully executed across the country, serving some of the largest corporate customers in public and private sectors. Going by the accolades and awards the
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company won recently, there is no escaping the fact that Star Rentals is set to revolutionize the leasing sector. It has also made a name as one of the fastest growing startup in its line of business. “We have grown from an asset of zero to Kshs 250 million in just under two years,” says Saina. So, what makes Star Rentals to stand out? “We have the quickest turn around period in the market. We focus on clients and make sure their needs are addressed accordingly. We also enjoy bigger support from our parent company-Siginon Group, and an internal insurance agency that handles all insurance needs for the leased assets. Looking at its tremendous growth, it is easy to see why quality services and great customer experience have been at the heart of this company. These core values are inextricably linked to the company’s culture which becomes clear when you meet the firm’s staff at its headquarters at Siginon Aviation Complex within JKIA. A well equipped and trained staff serves clients better, says Saina. “We have over the years improved the working condition of our team to enhance their capability and productivity.” As a leader of his team, Saina is responsible for the overall performance of the firm to make sure it achieves its mandates and objectives to shareholders, clients and the public. Despite its successes in the industry, Saina notes that it has its fair share of challenges. “Handling client expectation is one of the biggest yet. A customer has to demonstrate that he has capability to pay for the leased assets. In asset financing chain, we are the last resort. So when a client gets rejected by a bank
and they turn to us, they come with an equally challenging risk that we have to mitigate,” explains the executive. Because the industry is dynamic, the most successful leasing firm keeps a close eye on trends in the sector. To stay ahead, Star Rentals reads trends and adapt consequently. “We are very innovative and try to align ourselves with ever emerging opportunities. GoK adopted leasing which was a big boost. When the government takes a front seat, it creates confidence in the industry. This opened new opportunities within parastatals and we responded accordingly with relevant products.” The firm now looks forward to tap on emerging opportunities in the aircraft industry. Although the leasing concept is still new to the larger public, Saina argues that we need to address the ownership culture. “Buying and maintaining an asset is expensive. And as soon as you invest in a piece of a gadget or machinery, it is only a matter of time before a new version comes out, making yours obsolete or inferior. Leasing offers advantages that owning does not, including lower monthly payments, which are typically spread out over the course of months or years rather than delivered in a lump sum.” Due to the high costs involved in owning and operating equipment, many individuals, small business owners and large businesses opt to lease rather than own, he advises. Although Star Rentals has just cemented its foot in the industry, it seems like its journey has just begun. The firm will continue being a trusted advisor and service provider for its customers and looks to an even brighter future. July 2019
Startupmagazine.co.ke
INTERVIEW
Dave van Niekerk on Building Africa’s Most Formidable Fintech South African-born Dave van Niekerk is the founder and Chairman of MyBucks, a fast-growing African Fintech company that successfully delivers seamless financial services to banked and ‘unbanked’ consumers alike using next-generation technological platformsp
By Sylvester Okumu
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July 2019
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s a fin-tech pioneer in Africa, Dave van Niekerk, the chairman and co-founder of MyBucks has witnessed first-hand Africa’s growth in Micro-finance over the last 15 years. With this growth fueling his passion, he has promoted investment in many African countries and continues to create trailblazing business models that make financial inclusion for people across the continent a reality. A feted servant-leader with his employees’ interest at heart, he is an inspiration. As the Vision carrier of MyBucks; a firm that champions for financial inclusion by tapping into the Technological upsurge in Africa and beyond, many have been empowered through what started as one man’s vision and grown into an empire. With major business listings in Johannesburg Stock Exchange and the Frankfurt-Stock Exchange, he is man to watch in the Micro-Finance sector. Dave shares on what drives him and how his team intend to keep pace with new technological advancement to maintain a competitive edge in micro-finance. •Tell us your elevator’s profile? I am an entrepreneur at heart and have successfully built two Micro-finance businesses operating across Africa.I am a forward thinker and driven by success – not only my success but that of my staff and the people we empower through credit and access to financial services. Both businesses have been listed – one on the Johannesburg Stock Exchange and most recently, one on the Frankfurt-Stock Exchange. •What are your roles at MyBucks Group? I am the chairman and Co- Founder of MyBucks. I am responsible for the overall strategy of the business. Passionate about the technology that will drive our business and give MyBucks competitive edge, I actively get involved in the innovation side of the business.
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•What is challenging about your role? As the chairman of a listed entity, one of the most challenging bit is balancing my time between executing operations, ensuring my staff remain motivated, driving the strategy of the company and ensuring that my shareholders are engaged and up to date on the developments at the company. •Major highlights of your career so far? I am fortunate enough to have a number of highlights in my career. Not many people can claim to have started and sustained two successful businesses that change and improve people’s lives. Some of the key highlights that stand out for me include: •Listing MyBucks on the Frankfurt Stock Exchange in 2016 •Growing staff members over a span of 15 years and watching them flourish •What are the main lessons that you have learnt in your career thus far? Don’t ever give up on your dreams. Failure will happen along the way but you need to pick yourself up and learn from it for the future. Business must also be flexible to an ever-changing environment – both macro and regulatory. Be open to embrace the technology and the digital revolution we are now in as a company. If you don’t adapt and take the opportunity to be part of this, you won’t have a business tomorrow. •Tell us about MyBucks expansion strategy in African and across the world? MyBucks is all about driving financial inclusion using cutting-edge digital technology and our established brands, GetBucks, GetSure and GetBanked. We are now operational in 12 African countries, two European countries – Poland and Spain and most recently in Australia. We are constantly looking for growth opportunities on the African continent and in Europe and East Asia.
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Business must also be flexible to an ever-changing environment – both macro and regulatory. Be open to embrace the technology and the digital revolution we are now in as a company. If you don’t adapt and take the opportunity to be part of this, you won’t have a business tomorrow.
Specifically, in Africa, we have used technology to allow greater access to financial service products that the traditional bricks and mortar banks could not do. •In view of the above, what has worked and what has not? The beauty of digital revolution is that it is agile and can be adapted and revised to change match new trends. At MyBucks we have both a Tech team that constantly develops new products, as well as an in-house Artificial Intelligence (AI) team that are looking at big data and creating new and innovative ways of doing business that will enhance our services in the marketplace while equally balancing the internal risk to the business. •What does not work? Not looking ahead and being aware of what is going on in such a fast-paced environment. As a chairman, I am the one to set the pace and I need to be sure that I have the right team around me to help me accomplish this. •What advice would you give to entrepreneurs on failure and success? The beauty of being an entrepreneur is to try new and different things; so yes you will make mistakes and even fail once or twice, but fail quickly, get up and do it again and again and learn from your mistakes. When you succeed remember it is a joint effort between you and your strong team and support system so acknowledge and recognize people for their contribu->> July 2019
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16 But if you’re committed, in the long run you will get there. Thirdly, remember that each country has its own culture and you need to be aware of, and respect, cultural differences in each country – those of your clients, staff and local partners. It certainly is a worth investment to understand your stakeholders dynamics. •What are the emerging trends you see disrupting financial inter-mediation? In today’s technology driven world, there are a number of “disruptors” in the industry from the Internet of things (IoT), the rise of InsurTech to Chatbots and machine learning. tion. Most importantly, don’t let success change the person you were when you first started out. Stay humble and be true to your team! •Any advice to other ventures looking to set up operations in Africa? Look for local partnerships. Now more than ever before, you need local part-
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July 2019
ners in the markets. You need local shareholders and directors that understand the flow of the land; the legislative environment and the socio-political dynamics. Having that day-to-day, onthe-ground knowledge is invaluable. You can’t launch in the African markets anymore without having a local partner. Secondly, learn to be patient; things can sometimes take longer than expected.
At the forefront of disruption in our industry are biometric access, blockchain and Artificial Intelligence (AI). All three of these things are going to change the way we do business with customers from know your customer (KYC) payment systems, through to how it interacts with social media.
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Head Office, Barclays Plaza. Market Rd,CBD. P.O BOX 16982-00200. Nairobi Kenya July 2019
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COVER STORY
Robert Masinde, CEO ZENKA FINANCE
HOW ZENKA FINANCE IS CHANGING DIGITAL LENDING IN KENYA By Sylvester Okumu
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July 2019
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The recently formed digital lender is redefining the credit landscape in the country
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even years since Kenya launched the world’s first digital credit solution, the market for digital credit has expanded rapidly in the country. Digital credit has become a leading source of credit in Kenya and that it is mostly used to finance working capital and day-to-day consumption needs. However, various studies suggest that many borrowers are struggling to repay. With this hindsight, Zenka Finance has introduced an innovative way of digital borrowing. “We looked at the statistics and realized there is a market we can comfortably serve. There is need to provide financial solutions in a way that gives people peace of mind and balance in achieving fulfillment in their lives,” says Robert Masinde, chief executive officer at Zenka Finance. Zenka was coined from a combination of two words. Zen– achieving a balance Kash-an African derivation of cash. Among the techniques the lender first adopted was outpacing competitors in the development of products that appeals to customers in a unique way. To begin with, their app offers first time borrowers loan free of any interest or related charges. “We want our customers to experience our services without incurring any costs,” says the CEO. The firm has also ensured that repeat borrowers can graduate to larger and more affordable loans as they build pos-
itive credit histories over time. Loan limit on the app is capped at Ksh 20,000. However, this is set to increase in the future in line with the firm’s aim to diversify its product offering and scope. Despite many borrowers having the best intentions of repaying loans on time, they are often faced with uncertainties, says the executive. “Rather than dealing with defaults, we found it credible to extend repayment period as a result. This offers borrowers more time to offset their outstanding loans.” A few months after they launched, their services have been well received in the market, demonstrating that the sector needed such interventions. While most of the digital lenders have shied away from multiple platforms, the lender availed its services across many channels. Zenka services are now available to Android users, iOS users and USSD. “We do not want to limit anybody. That is why we made it available across these channels,” says Masinde. Customer experience Other than increasing accessibility of its services, the lender is enhancing the experience of the clients it serves through a call centre. According to Masinde, it is among the few financial institutions that boast of having a fully functional customer experience centre. “Our communication channels cuts across all platforms” he says adding that, “We make use of emails, telephone and social media to engage clients. This support runs 18 hours a day.”
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Credit is meant to spur the social and economic potential of a community. It should be used for a good cause.
He further notes that today’s businesses must embrace technology to survive. Those companies that will fail to innovate could soon go out of business. Just like technology, data is becoming an important part of the lending industry. Indeed more companies are using data to score their customers’ creditworthiness. Zenka Finance deployed a chatbot named Zena on Social Channels to enhance its speed of communication and engagement with customers. It also uses statistical and machine learning techniques to analyze data and understand customer’s lending risk, as well as working in conjunction with credit bureaus in credit decision making. Credit is meant to spur the social and economic potential of a community. It should be used for a good cause. Thus, it makes sense for borrowers to repay, advises the executive. “Most of the borrowers repay, otherwise we wouldn’t be in business.” “Our loans are mainly disbursed via mobile money which has a limit on the amount of money one can disburse. We are now exploring ways in which we can expand our offering and increase our loan limits. Going forward we will be looking to set up physical branches across the country and increase our touch points to customers.” Importance of digital lenders Mr. Masinde argues that there is no denying the fact that digital credit has>> July 2019 Startupmagazine.co.ke
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Different sources estimate that digital borrowers tend to borrow frequently, and it is, therefore, important to build better mechanisms to monitor consumer protection and over indebtedness. Masinde believes that digital lenders must do business ethically and with a human face. He sits as the chairperson at the recently formed Digital Lenders Association of Kenya whose key priority is to promote professionalism in the industry. Going forward, Zenka Finance aims to strengthen its products offering and ensure that customers get unrivalled services in the market. Besides Kenya, it looks forward to set up operations in Uganda, Rwanda and Ghana. “The ultimate aim is to grow the business and become more diversified in the financial industry,” he ends. The CEO at a glance •He studied at Oxford University-UK. •Holds B.Comm. (Finance) degree from University of Nairobi •CPA (K) •He has a wealth of experience as a banker. •He has worked with Citi Bank and Standard Bank of South Africa.
Masinde all smiles expanded the scope of financial services in Kenya. FSD Kenya indicate that there are over 6 million Kenyans with access to technology that can deliver micro-loans within seconds and build a credit history that can, in theory, give them access to larger and cheaper loans in the future. Millions of others who own low-end phones can access loans and savings products via their mobile devices.
Digital loans are fast, easy to obtain, short-term, and are available from numerous bank and non-bank institutions. “Gone are the days when you needed a bank account to access loan facilities. You can now do it from the comfort of your phone,” he explains. These represent a tremendous step for formal financial inclusion.
•He set up Micro Mobile Limited, a mobile technology solutions provider for micro credit and other financial access requirements. •He is the currently CEO of Zenka Finance •Chairperson and founding member of Digital Lenders Association of Kenya.
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BUSINESS ENTERPRISE
Your Business: Why Others Grow While Yours Struggle
a n interesting phenomenon is currently shaping up to be an interesting story told in the Kenyan economy. Just recently, an article was written about former blue chip companies now trading as penny stock. To expound on this will require that I give proper illustrations on this phenomenon.
EDWIN KIMANI
The writer is a Lawyer and the managing partner at Avikele Services, a professional services firm offering legal, tax, accounting, business development and consulting services to enterprises of all sizes and industries. The firm offers growth strategies and funding advisories to startups and enterprises.
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July 2019
Previously, companies such as Kenya Airways, Mumias, National Housing Finance and National Bank of Kenya, among others, were considered as a reliable investment for those willing to invest in the stock market and the country. They enjoyed a great deal of adulation. However, the tide has changed. . As the writer notes, they trade at prices well below the price of a tomato and struggle to make a profit year in year out. Currently, the Nairobi Securities Exchange is dominated by Safaricom which commands almost half of a day’s shares traded as well as banking stock. You may be wondering what this has to do with your startup, family business or your small or medium sized enterprise. A lot. To be honest, times are hard in this
Kenyan economy, but so are times hard everywhere and only good businesses, founded on good ideas, led by charismatic leaders and not mere managers that adapt to circumstances with vision shall emerge as true market leaders in their respective niches in the larger market. In a while, only the most resilient have and shall continue to grow. If your business stagnates and you feel that the economy is to blame, then here is some advice for you. So, what should I know when my business struggles? Understand your idea To monetize your idea, an understanding of that idea is key. To illustrate this, allow me to refer you to two movies that I highly recommend to each and every entrepreneur, The Social Network and The Founder. What is common about the movies is that those considered the founders of those businesses were not really the founders of the respective ideas that birthed the businesses. Those that grabbed the opportunities to develop the ideas are different from those that started the ideas because they understood the ideas and monetized them, thus forcing the owners of the ideas to submit and part with them. Back home, I happened to advice a
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startup that focused on making condiments. The business had been struggling but the idea was marvelous. I made brief analysis of the ideas and the business. I realized that apart from condiments, they had the potential of doing festivals centered on their condiment. This would bring, not only public awareness to their business, but also strategic partnerships, revenue from sponsorships and sales as well insight of market trends. To understand your idea, always look at the bigger picture, centered on your key product. The bigger picture is where the opportunities are. Understanding of the market Over the past week, I happen to have met a friend who is an executive in a leading insurance industry. I asked him a question that has been on the minds of many market observers. Why is the Kenya’s insurance industry in Kenya underperforming? Keep in mind, the pool of funds that they manage and the in-
surable risks currently observable in the market. He told me that times are hard. True, times in the economy have never been easy, but I noted that for one, the insurance companies haven’t always prioritized research and grassroots engagement. Dr. Bitange Ndemo once noted that we should re-think the rural and livestock industry. This, I think, the insurance industry could tap into through research, innovation and public engagement to create awareness on their products and grassroots dissemination. This is how you understand and show understanding of the market. Warren Buffet once stated in an interview that he missed an opportunity to be part of Amazon. Amazon as a business shows a great understanding of its market. Today, it has pushed large retail stores such as Walmart almost to market obscurity. This is by understanding that buyers would much appreciate to buy from the comfort of their home without walking in market stores and queuing in
lines to pay for their select products. Back home, large retail stores have collapsed while budget supermarkets put up near crowded neighborhoods are doing well. An example would be Cleanshelf Supermarkets, among other budget supermarkets, has strategically implemented an expansion drive that focuses on the lower and middle income parts of the economy by putting up in their neighborhoods. The same can be said about Jumia Services which has tapped into ecommerce, allowing sellers to sell on their platform while strategically placing warehouses and drop off points around cities and neighborhoods thus fueling growth. These are perfect examples of entities that have shown an understanding of their market. To grow, you as an entrepreneur should understand your market. Understanding of your consumer In your business, without clients, what>> July 2019
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you are engaged in is just but a mere hobby. This is just as relatable to throwing a party and nobody shows up. This is what is known as the iron law of the market. It is cold, hard and unforgiving. If you don’t have a large group of people to buy what you are offering, your chances of survival are next to slim. To get to the clients, you need to simplify your idea, make it relatable and make it reach to the preferred audience. This is quite relatable in many business ventures in Kenya. You could ask many what they sell, and chances are that you will be left bamboozled by the mouthful of paragraphs describing their business and products. I imagine this being sold to a layman during a business expo, they will most definitely stare at you, ask for a brochure and walk away never to contact you or your business ever. That is cold, hard, unforgiving and a reality. Partnership strategies No business or idea thrives in isolation. In our symbiosis as human being, one thing helps us grow, and that is partnerships which bear creativity. The history of the digital age has reinforced this idea. A look at many great ideas tells you that they were a partnership. Steve Jobs needed a team including Gary Wozniak to create Apple, Bill Gates needed Paul Allen and much later Steve Ballmer among others. To date, this large corporations are partnering to develop ideas and to establish market presence. Berkshire Hathaway, controlled by warren buffet, has partnered with amazon and JP Morgan case to develop an affordable healthcare venture called Haven. The idea is to pull ideas and resources to make healthcare simpler, better and low cost. Back home Equity Bank and Safaricom signed a partnership that could see the Startupmagazine.co.ke
July 2019
two companies broaden their fintech offering across the local and regional markets. This collaboration leverages on the two companies competitive advantages with Safaricom enjoying telecommunications infrastructure while Equity Bank enjoys a large banking infrastructure. This will see both institutions dominate the field for such a long time. Your venture, no matter how small should be ready and willing to partner in order to grow, prosper and establish a firm and proper foothold in the market. This will ensure longevity, sustainability and grow streams of income for your business. Understanding of your funding needs and sources of funding Assistance from a local loan shark, an unregistered lending organization and lending contracts that you hardly read or with clauses that you don’t understand could be the end of your business. A lending partner that does not tailor their lending facilities to suit your needs could also be the end of your business. Poor understanding of your funding sources, needs and options could bury your business and push you to liquidate assets for the sake of servicing your loans. To illustrate this, I wish to briefly retell the story of one Thompson Aderinkomi, the cofounder at Nice Healthcare and Relate. In 2011, he started a tech enabled primary care practice that would cut the cost of healthcare. He, and a few colleagues built the backbone of the company. Revenue was weak as very few companies signed up to his idea. He sank into debt and needed cash. He raised finance from raising $ 1 million in seed funding. After a slow but almost anemic growth, growth started to accelerate. However, it seems that the Venture Capital firms that funded his idea, were
already impatient and fired him from his own startup. This clearly shows that the funding entity did not understand the entrepreneurs business properly and thus got impatient and fired him. Back home, I have engaged startups and some businesses seeking funding. Their options have not always been the best due to their lack of conducting due diligence and proper needs assessments. They have brought contracts with loan shark kind of clauses especially on interest rates and their adjustment. My advice has always been to seek professional help, conduct a needs assessment to see what part of your business needs funding and how much funding. You probably would need to restructure the business in order to spin off some of the ventures that need funding and ring fence them. This would protect the rest of the business from risk. You’d then consider what kind of funding works for your venture, is it equity funding, debt funding or a hybrid of both. Due diligence on the best funding partner follows and with that, you are well placed to grow your business, protect its ideas and various ventures. Conclusion Businesses operate in different economies with varying challenges. What separates those that thrive from the struggling ones is strategy. Many have been established, had their run and now struggle to survive. Others, despite the economic vagaries, grow exponentially and impact societies in many positive ways. Identifying growth opportunities is important, but so is understanding how a business actually works, starting the business, improving the business and employing growth strategies that see the company last during difficult and great times.
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Spreading Ideas, Innovation across Africa at the Speed of Thought
INNOVATION
PEDRO GUERREIRO
If ever you’ve wondered when the right time to promote yourself as a freelancer would be… The time is, now!
Pedro is the Managing Director: Central Africa at SAP Africa
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he human brain remains one of nature’s greatest wonders. Its estimated 100 billion neurons process and transmit information to create the most complex computational devices in the known universe. As our technological progress accelerates, the prospect of creating artificial intelligence to rival our own is exiting the realm of science fiction and entering science fact. It is not unthinkable that we will create an advanced AI Startupmagazine.co.ke
July 2019
in our lifetimes, ushering in a new dawn for humankind. These algorithms could help us solve some of the world’s most pervasive problems, including poverty, viruses and superbugs, climate change and improved service delivery to a growing global population. But algorithms are not the only artificial neural networks currently under development. The entire African continent is arguably transforming into a vast neural network that has the potential to trans-
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mit innovation and knowledge across vast distances at the speed of thought. This progress is powered by a mix of increased connectivity, growing digital literacy among its youthful population, enabling policies from African governments, private sector investment and the growing proliferation of so-called exponential technologies. Connectedness driving progress Sub-Saharan Africa has made great progress in internet connectivity over the past decade. While the continent has largely missed the wave of fixed line connectivity typical of more developed markets, its rapid adoption of mobile technology has helped its citizens leapfrog into the digital era. By next year, Africa is expected to be home to half a billion mobile broadband connections. While this rapid growth in connectivity has brought issues such as fake news, cybercrime, financial scams and political manipulation, most sub-Saharan Africans are positive about the role the internet plays. According to recent research, many Africans say the internet has had a positive impact on education, economy, personal relationships and politics. The emergence of 5G technologies and the continued rollout of fibre connectivity will encourage more African citizens to make use of online services and appbased tools. It’s also good news for the continent’s efforts to close the digital divide and foster smart city capabilities in key urban hubs. Building smart hubs and cities According to GSMA data, the number of active tech hubs in Africa has grown to 442, a 50% increase between 2014 and 2018. These hubs are found mostly in the more advanced African economies
of South Africa, Nigeria, Kenya, Egypt and Morocco, often laying the foundation for what looks set to become one of the defining urban trends of our time: the rise of smart cities. This trend is partly driven by Africa’s relatively small urban population. According to UN data, only 40% of the sub-Saharan Africa population live in cities. Large metropoles such as Lagos and Cairo are expected to grow massively over the coming years as more people move from rural regions: Lagos alone is expected to have a population of 88 million by the end of the century, making it possibly the most populous city in the world. Across the continent – from Konza Technological City in Kenya to Eko Atlantic in Nigeria to Vision City in Rwanda – governments are launching ambitious smart cities; multi-billion-dollar tech developments that champion the use of technology in urban management and appeal to the younger, more digitally savvy generation typical of the continent. Refining the world’s greatest deposit of raw talent If Africa is to harness the talent of its fast growing youth population and power its economic growth, these developments are necessary. The median age in Africa is 19.5, and its youth population is expected to more than double between 2015 and 2055 to reach 226 million. Many will work in a world completely transformed by the exponential technologies entering our lives: AI, blockchain, IoT and machine learning. Efforts to foster greater digital literacy among this large and growing group are accelerating, and for good reason. While 12 million young people entered Africa’s labour force in 2015, only 3.1 million
jobs were created. Fostering greater digital literacy is therefore a priority for the public and private sectors in many countries. The annual Africa Code Week initiative that was started in 2016 has already introduced more than 4.1 million youth to basic coding skills and in 2018 alone trained 23 000 teachers to sustainably teach digital skills within their schools and communities. Major tech companies, from IBM to Google to SAP, have made significant investments into the continent’s digital economy through the establishment of innovation labs, supercomputer facilities, and AI centres. Some have predicted that Africa could become the beating heart of the future global economy, thanks largely to its growing youth population and the ageing population of more developed regions. But it’s just as likely that Africa will become its brain, a massive multicultural melting pot of ideas and innovation that is transmitted instantly across vast distances, solving big problems and enabling a new generation of digital workers to drive global progress for decades to come. The entire planet could be transformed this way. Imagine a world where technological advancement is balanced with African ingenuity and a deep-held respect for the balance between the natural and digital worlds. I would argue such a world would be a step change from the often-reckless economic development that typified our recent history. As we enter this new, uncertain era of exponential technologies and progress, Africa is taking bold steps to becoming an economic and innovation driver. And the world will never be the same.
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Character in Leadership
LEADERSHIP
NJERI MUCHUNU
“What you do in secret will always show up in public”
Njeri Muchunu is a Leadership Curator and Advocate of the High Court of Kenya. She has extensive experience in the legal profession spanning over 17 years. She has worked in private legal practice, as an executive in the Corporate sector as well as the Public sector.
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he question of leadership and character assumes that leadership is a role because it is roles that imply responsibilities. Roles like father, mother, teacher, lighthouse keeper, captain, etc all have certain responsibilities. But if leadership isn’t a role but an act or impact like influence, then character is part of the meaning of leadership. Lead with your life and your life is the weight of your words. A failure in character can happen to anyone, in any vocation or stratum of
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life. A person of character does not live on what is popular; they live on what is principle. That is why it is difficult for politicians to have character because politics is based on popularity which means you will compromise your principles to protect your popularity. You may ask then, what is character? I define character as simply that which is unchanging. Are you the same person all the time? Are you consistent, are you predictable? Leadership comes more from who you are on the inside than from what you do on the outside. Too many leaders start strong but then fail or self-destruct because of defects in their moral compass. As a result, they lose
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much, or all, they have worked for. How many courses or workshops do you see offered on the topic of character formation and the establishment of strong values; on how to live according to one’s conscience, not compromising one’s standards? Not many. This vital aspect of leadership is being overlooked; to our own detriment. Moral deficits frequently lead people to negative or ruinous consequences such as missing out on promotions and advancements, being fired from your job, losing your life savings, betraying your families, surrendering your lifelong dreams, and going to prison. A leader must know how to establish a solid foundation for living that will sustain him or her and keep him or her on the right path in times of uncertainty, temptation, and crisis. Good character is like a personal security system for your life. We must immediately begin to promote its restoration. Many leaders today are attempting, unsuccessfully, to separate the ethics of their personal lives from the responsibilities of their public lives. That approach might seem legitimate on face value. Yet, below the surface is this crucial reality: Leadership is not just a role one plays; it is a life one leads. No matter what type of leader you are or how widespread your influence, you face personal temptations, challenges, and stresses. Only a foundation of character will sustain you and your leadership, be it a financial, political, educational, religious, medical, corporate, scientific, artistic, and so forth, your leadership rests on your character. Character is the most powerful force a leader can possess because it protects his life, his leadership, and his legacy— it manifests who he is and shapes who
We must immediately begin to promote its restoration. Many leaders today are attempting, unsuccessfully, to separate the ethics of their personal lives from the responsibilities of their public lives. That approach might seem legitimate on face value. Yet, below the surface is this crucial reality
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TRAVEL Championing Wildlife Conservation Through Rehabilitation
he will become. Without character, every other aspect of leadership is at risk. Character Protects a Leader’s Inner Life, establishes a leader’s integrity and enables his growth as a person of ethics and values.
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BOOK REVIEW
Leadership training and development must start with the inner life of the leader before it can move on to the principles and process of leadership. I have concluded that the greatest obstacle to a leader’s success is a deficit of character. If I could teach a leader one thing that I believe would preserve his leadership, and even his very life, it would be the priority of character—internal values and principles that one is committed to and that manifest in one’s life as ethical conduct. Whenever we fail to pay attention to issues of character, we will experience some kind of loss. The fallen leaders whom we know personally or read about in the headlines are warnings to us. We must recognize that every decision we make adds a sentence to our life story. Will the complete story of your life and leadership add up to something positive and honorable? There is only one way to ensure this outcome—through the intentional development of character.
Zero To One Notes on startups or how to build the future
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SONG REVIEW Khalid – “Talk” (Prod. by Disclosure)
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At the back
Travel & Leisure
Championing Wildlife Conservation Through Rehabilitation Nairobi Animal Orphanage is situated in the Nairobi National park. According to the Kenya Wildlife Society, it serves as a treatment and rehabilitation centre for animals. The Orphanage is home to lions, cheetahs, hyenas, jackals, serval cats, rare Sokoke cats, warthogs, leopards, monkeys, baboons, buffalo. and various bird species. Each animal and bird at the orphanage has its own unique life story. A story that will either inspire the spirit of wildlife conservation in you or simply entertain you. Here below are real stories of 7 animals at the orphanage. By Oroni Tendera Startupmagazine.co.ke
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1.Lioness Sarah Tumaini
2.Jan the Warthog
Sarah is undoubtedly the most famous living lioness in Kenya. On 28th June, 2014, the United Nation’s Secretary general−Ban Ki Moon visited the animal orphanage specifically to meet her. Patrick, her caretaker, allowed her to play with the secretary general. She did not disappoint him. So thrilled was the UN’s boss that he christened her, Tumaini, a Swahili name that literally translates to ‘hope.’ Sarah was further adopted by the secretary general not only to symbolize his solidarity in conservation with Kenyans but also as a sign of hope that animals and humans can co exist in harmony.
Animal keepers , Robert and Mutuku, received a report from people at Langa’ta Hospital about a baby warthog all on his own. When they went to the site, they advised the people to keep watch that night to see if the mother retuned. She didn’t, so the next day, 8th October, 2014, they collected the fragile, tiny piglet and brought her to the Nursery where she required special care. Mama orphanage named her Jan and with Patrick and Lawrence, helped look after her.
Sarah likes ball games and is gentle with her friends.
Jan grew stronger daily and loved all the attention, especially being fed from her milk bottle. She refused to eat porridge from a dish even when she was several months old. She played
outside during the day and slept in a pen at night. One evening in August 2015, she refused to get into her shelter. Patrick had quite a time chasing her. The following day, Jan was transferred to a bigger enclosure. Currently, Jan is delighted with her home. Every evening, Partrick puts Jan to her soft bed of hay. 3.Monkey Benin On 31st January 2005, Kenya wildlife service officers confiscated an illegal shipment of primates in transit to Cairo. There were six chimpanzees and several monkeys. The chimps were taken to Ol Pejeta while the monkeys found a home at the Animal Orphanage. Benin was one of the saved monkeys. She is playful and easy-to-like. July 2019
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“She was moved here from our Monkey village so she can watch visitors entering the orphanage,’’ explains Joshua, her Custodian. However, the delightful lady can become mischievous and visitors are warned against getting her attention by holding up objects in front of her. 4.Leopard Talek Talek is the pride and joy of Nairobi orphanage. He was brought to the orphanage on 11th September,2006 at a tender age of 2 weeks. Dai, a passer -by, had found her all alone near the Masai Mara Talek gate. He informed the Narok council and the KWS au-
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July 2019
thorities. It was later decided that the weak and pitifully-crying leopard cub be brought to the Animal Orphanage for hand-rearing. He drank milk from a bottle every four hours and soon began eating steak mince. Now, at the age of 11, Talek is powerfully-built and friendly 5.Sokote cats: Mr Anabuko and Mrs Sokoke A set of Sokoke cats occupy the fifth enclosure of Nairobi Animal Orphanage. Slender, hard-muscled trunk and long legs give them the appearance of skilled predators. Their coats are sin-
gle-layered ,dense and have blotched tabby pattern with ticked hair occurring in shades of brown. The cats heads are flat at the top with rounded ears and almond-shaped slightly slanted green eyes. The pair of cats were brought to the orphanage in March 2003 from Mt Kenya Safari Ranch where Don Hunt breeds them. According to their caretakers, the two cats were wild during their early days at the orphanage. They would spit at their caretakers and slap them with their paws. However, within a month, they became friendly. Mrs Sokoke likes to sit at the roof of their house to watch visitors while Mr Anabuko derives pleasure in rubbing
himself against his custodians and standing on his hind legs for attention. “They know the voices of those of us who take care of them, and when they hear us talk nearby, they call out to us,’’says one of their caretakers.
was moved from the Animal Nursery to his present enclosure where he lives peacefully with two other cheetahs− Danny and Diane.
6.Cheetah Derrick
Peace was brought to the Animal Orphanage on 25th June, 2010 when he was less than two months old. He readily took milk from a baby bottle. Mewa, his caretaker, gave him a blanket, hot water bottle and a soft toy. As Peace continued growing, he developed interest in watching other animals when he went out to play and never cried when he was put to bed at night. Now fully-grown, Peace does not mind being held but cannot stay still for long.
In July 2014, a sick 3-week-old cheetah from Wajir was admitted to Nairobi Animal Orphanage. To save his life, he was accorded specialist medical attention for several months. Derrick cried sometimes during the painful injections but as time advanced he seemed to understand that he was being helped to recover. On the eve of his 1st Birthday, Derrick
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7.Peace the Serval Cat
Jan the Warthog
Monkey Benin
July 2019
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Coffee Break
Book Review
Zero To One Notes on startups or how to build the future Author: Peter Thiel Reviewer: Oroni Tendera WHAT VALUABLE COMPANY IS NOBODY BUILDING?
through companies, and Zero to One shows how.’
The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won’t make a search engine. If you are copying these guys, you aren’t learning from them. It’s easier to copy a model than to make something new: doing what we already know how to do takes the world from 1 to n, adding more of something familiar. Every new creation goes from 0 to 1. This book is about how to get there.
ELON MUSK, CEO of SpaceX and Tesla ‘This book delivers completely new and refreshing ideas on how to create value in the world.’
‘Peter Thiel has built multiple break-
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July 2019
MARK ZUCKERBERG, CEO of Facebook ‘When a risk taker writes a book, read it. In the case of Peter Thiel, read it twice. Or, to be safe, three times. This is a classic.’ NASSIM NICHOLAS TALEB, author of The Black Swan
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Dr. Maxwel Okoth, the Founder and CEO of Ruai Family Health (RFH) Healthcare receives the 254 Youth Entrepreneurship Awards 2019 Top Male Entrepreneur Under 35 Award from the Kenyatta International Convention Centre CEO Nana Gecaga during a Gala event held at the KICC.
Association of Public Relations and Communication Management Firms (APReCoM) Chairman Okoth Obado Vice Chairperson Desiree Gomes and outgoing Chairman, Lawrence Gikaru (right)
Emirates introduced ecoTHREAD™ blankets made from recycled plastic bottles for its Economy Class cabin. Each Emirates ecoTHREAD™ blanket is made from 28 recycled plastic bottles. With the latest innovation, the bottles are recycled into plastic chips before being turned into yarn, creating a polar fleece material. The fine thread is then woven into soft blankets.
Username Investment Ltd. staff members receiving the trophy for the Best Stand in Real Estate Categoryfrom Hon. Simon Chelugui Cabinet Secretary Ministry of Water and Sanitation
July 2019
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July 2019
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Coffee Break
Blog Review Blog name: “BizSugar” Founder: Anita Campbell
Reviewer: Adisa Hudson Link https://www.bizsugar.com/ About the Blog A blog with small business news and tips that is crowd-curated. BizSugar’s community of readers share business blog posts, videos and other content from which readers of the blog can learn something,
For those that share content, they are reinforcing their reputation and brand and bringing online visibility to their content. The community votes on member-submitted tips, advice and information, advancing the most popular (and what’s considered by the community to be most useful) posts to the home page. Top posts are pushed to the top or can make it into the BizSugar Top 10 list.
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 Outspan Hospital, off the Embu-Meru Road. Call us on 0703 024 024 or email info@stima-sacco.com for more information.
July 2019
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At the back
Song Review
“Talk” (Prod. by Disclosure) Khalid Review by Israel Daramola
Startupmagazine.co.ke
July 2019
Khalid proves that he’s best served around other talented people, whether it’s with Ty Dolla $ign on a song like “OTW,”—which appeared on best songs of 2018 list—or in his new single “Talk,” produced by UK duo Disclosure. The new track expertly blends a light, bouncy R&B vibe with electronic glitches and synths to make a breezy, low-stakes but charming nonetheless love song about just wanting to get know someone special.
“Talk” is the first release from Khalid’s still-untitled sophomore album. The new record is the follow-up to 2017’s American Teen and the 2018 EP Suncity. After the success of American Teen, Khalid appeared on tracks like “Love Lies” with Normani, “Eastside” with Benny Blanco and Halsey, and “1-800-273-8255″ with Logic and Alessia Cara.
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July 2019
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