Friday, June 29, 2007

No more worries or so i think

I have always wondered how is it to start and run a business in Kenya without money and no titles.

But looking closely these days money is being thrown anywhere

Mkopo wa Salo- Barclays
Unsecured Personal Loans- Standard Chartered
Biashara Account- KCB

But some of us are highly sceptical of loans. Having gone through clients files and seeing how their lives have been doomed by taking loans especially in early years when interest rates were uncontrolled. Banks like StanChart and Barclays charged highs of 34% which i think was crazy.

However the Government, Equity is telling me i have access to Ksh. 7 billion
Seeing this Fanikisha project of UNDP and Equity is giving women access to 5 billion shillings, during the budget reading Kimunya gave women Ksh. 2 billion and the youth Fund Ksh. 1 billion. Yes i am eligible for all this money. How to optimize its use is what i am not sure about. I am told opportunities are everywhere, we just have to look harder.

I am really and madly hoping women of this country are going to join forces and make use of this money. I don't belong to any women/merry go round group myself but hey maybe its time to join one. One day Eve Muraya she of Colour Creations told us the only problem us women have is lack of synergy. Don't i agree more.

When i was watching CNN another day i came accross some interesting hero i.e It is interesting that someone came up with a very noble project that for only 25$ you will be able to fund a goat trader in Kenya the way they put it. well i will be looking at their field partners and processing information for some people i think could be in need.

Makutano Junction

Makutano Junction is a programme nobody should be able to miss. It is good, funny and wella this junction has everyone from Mama Mboga (my favourite), the Mchawi, the player Husband, and its very interesting to watch. Disappointing though, is that all the producers have English names meaning most good projects have an English hand to it and is heavily funded by the Ford Foundation and others. Almost truly local though even the language and accents.

Lovely weekend everyone, forgive my little access to technology and the less blogging. Maybe i need a Laptop for one donation myself.


  1. In Kenya the concept of loans used to make my blood run cold. Kenyan banks raped the wanainchi for a very very long time.
    Yes women when they band together have alot of power, that is one thing I wont argue about.
    Good luck in getting the lap top!

  2. The loan spree worries me because a lot of people are not ready to start their own bsuiness. They think they are and that all they need is a bit of money. Now they have the cash (personal loan), they have no skills or stamina to grind it out, and no they're stuck with an expensive bank loan to pay. Money to start/run a business is only part of the solution

  3. I dont trust any Kenyan bank with their so seductive loans. I saw the KIVA article and was like maah thats lovely. You saw the woman who started the mboga thing and now has expanded. Thats what we call people who need to help.

  4. ...i say try kiva...i have and i think its worth it..thats my two cents

  5. The whole loans and easy-payment credit card thing is such a trap to the gullible Kenyan - esp. the young, upwardly spiral types that are impressionable by a whole bunch of, fashion, keeping up with the Joneses, whatnot...and then they service these "needs" with loans. My sis works in credit management for a leading card in Nairobi and has told me of tales of peeps who earn say 30K and are running up bills spiralling uncontrollably to the 100's of thousands...and not ati they are spending on serious, earth-shaking things (dog-food bills, hefty carni bills etc etc)...sad, sad, sad...end of the day, someone is laughing all the way to the bank...wait, all the way IN the bank..

    Kenyan TV production is a chat for another day..Makutano is a good start and let's hope that the progress made here won't go to utter waste...

  6. I wouldn't start a business with an unsecured personal loan, simply because I would have to have a job to keep up with the payments. Hek there's no way I'm taking one of those loans unless I'm earning real money. The irony remains, I think. You can't afford to borrow money unless you have money. Or maybe I'm just scared of the prospect?

    I haven't watched Makutano, is it any different from akina Wingu La Moto and all those others? They always looked and sounded the same to me...

  7. ok with the loan for women issue, isn't it just the bomb to be a young lady in Kenya now? coz if your btwn 18-35 you can cash in the Youth Fund and being a lady, the Women Fund.

    And as of the myriad new incentives by banks to give us chums as Nakeel says,"I dont trust any Kenyan bank".

    The're hawking the things - literally on the streets - not good