Option 4 (Recommended) In this issue equity News 1 Equity Scholar designer Equity bank bags Young wins ‘vijana has come a Entrepreneur’s na Equity’ long way Award prize

RATIONALE This logo uses ticks to form the ‘K’ in Kenya and to represent the approved choice of Kenya as a destination. They also appear as arrows, which illustrate the coming together of the pillars that drive this nation forward; investment and the economy, entrepreneurship and innovation, tourism, cohesion and celebration, security and democracy. These depict the forward movement and progress of a nation.. With the two arrows pointing in dierent directions, they evoke the Page 3 PAGE 5 page 8 sense of versatility in Kenya’s opportunities, and bring together both the internal and external factors that contribute to our growth. The colours used are from the Kenyan flag; the green denoting a land that is ripe with opportunity, and the red denoting the passion of a people that are the foundation of its success.

july 2015

EquityA QUARTERLY NEWS PUBLICATIONNews OF EQUITY BANK

NOT FOR SALE Issue 10 Let Africa ARise! C elebrating Entrepreneurs

Simon Gicharu

Equity Bank CEO Dr James Mwangi holds aloft the Ernst & Young World Entrepreneur Of The Year 2012 trophy soon after receiving it in Monaco. Story on Page 2 George Wachiuri

Lizzie Wanyoike Dharminder Singh Banice Gatheka Gedion Kyalo Suzanna Owiyo American Express® Cards welcome in Kenya Your Card is welcome everywhere you see the American Express® or Equity Bank Logo.

American Express is a trademark of American Express. Jambo! Equity Bank (Kenya) Ltd is regulated by the Central Bank of Kenya. The Card is issued by Equity Bank (Kenya) Ltd pursuant to a license from American Express. 2 equity News

Equity Bank CEO is the Ernst Dr. James Mwangi’s Achievements Dr. James Mwangi serves as the Chairman of Kenya’s Vision 2030 Delivery Board- the blue print to transform Kenya to a & Young World Entrepreneur middle income economy by 2030. He is the Chancellor of Meru University of Science and Technology. Dr. Mwangi has been honoured thrice with Presidential national of the Year 2012 awards. He was vested with the First Class Chief of the Order of the Burning Spear (CBS) national decoration —the highest Presidential award to a civilian for outstanding contribution in economic development. He was also vested with the Moran of the Burning Spear (MBS), as well as the Head of State Commendation (HSC). In 2011, Dr. Mwangi’s name was entered in the list of Kenyan heroes and legends during the Mashujaa Day celebrations. Dr. Mwangi has received five honourary doctorate degrees for his contribution to humanity, entrepreneurship and economic development. In 2012, he was voted by his peers in banking for the Lifetime Achievement in Banking during the 2012 Think Business Banking Awards. He is also Forbes East African Business Leader of The Year 2012. In 2009, he was named Africa CEO of the Year at the Africa Investor Awards, while the African Banker named him African Banker of the year in 2010 and 2011. In 2011, Dr. Mwangi won the inaugural African Leader of the Year award presented by the African Leadership Network. In 2011, Forbes named Dr. Mwangi among the 20 most influential people in African business. Globally, Dr. Mwangi’s work has drawn recognition. He serves at the Global Advisory Council of VISA Inc. and is also a member of the Clinton Global Initiative. He is a holder of the Dr. Mwangi (R) celebrates the award with John Ferraro, Global Vision Award won in 2007 alongside Nobel Laureate Prof. Global COO of Ernst & Young Mohammed Yunus of Grameen Bank during which they were cited as “Initiators of the concept of the future that will shape the Watch video world economy”. The Financial Times named Dr. Mwangi among the top 50 emerging world thought leaders. Dr. Mwangi also serves on the UN Advisory Groups on Inclusive Finance as well as on Global Sustainability. He serves inspirational. He was brought up by his institutional growth and expansion. Its isembarking from a plane as an external advisor on inclusive finance in the Bill and Melinda widowed mother who was a small scale innovative and inclusive business model in Monte Carlo, Monaco Gates Foundation and is also a member of the G20 Advisory Board farmer. has demonstrated the capability to evolve on a June day in 2012, on Agriculture. D He had to fend for himself at an sub models such as agency banking, Dr. James Mwangi and his small He is a Certified Retail Banker and was admitted to the early age by selling charcoal, fruits and which is nurturing entrepreneurs, entourage couldn’t help but notice honourary membership of the International Academy of Retail milk to raise money for his school fees. creating jobs and generating wealth for Banking and also serves as a member of the World Economic the many private jets parked on the This background helped to nurture thousands of households. Council. He is a guest lecturer in Stanford University, Columbia tarmac. in him a determination to solve Dr. Mwangi has led Equity University, the Massachusetts Institute of Technology (MIT) and He had arrived on a scheduled flight the African paradox of a continent Bank to constantly balance social Lagos Business School where the Equity Bank business model is to attend the prestigious Ernst &Young endowed with resources, human capital good and economic good through a case study. Entrepreneurship of the Year awards and yet weighed down by abject poverty. exemplary performance. Through In 2012, Dr. Mwangi was appointed to serve in two global gala. Having won the East African His vision of empowering people social Equity Group Foundation (EGF), the councils; the G8 New Alliance for Food Security and Nutrition Ernst &Young award, Dr. Mwangi - economically is seen through the Bank implements high impact social and the Global Agenda Council on New Models of Economic had been shortlisted for the global transformational story of Equity Bank. programmes which are sustainable, Thinking 2012. He was also named by Africa Investor as Africa’s award from among 59 finalists from 51 Through a constant focus on scalable and have the ability to address Innovation Leader-of-the-Year 2012. countries, many of who had arrived by exceptional customer experience, social needs with commercial solutions. the jets parked at the airport. relationship banking, capacity building By leveraging on the Equity Bank “That was my competition,” says Dr. among staff and an effective governance infrastructure, EGF ensures a high Equity Bank Accolades Mwangi, “a formidable group of global structure, he has led the Bank from a return on social investments in key Dr. James Mwangi has led Equity Bank to receive numerous local and entrepreneurs.” technically insolvent building society thematic areas which include education, The gala night would conclude with with an asset base of Ksh28 million in financial education, entrepreneurship, global awards and accolades including: Dr. Mwangi holding the Ernst &Young 1993 to become a leading all inclusive agriculture, innovation, health as well as 2015 World Entrepreneur Of The Year 2012 commercial bank with an asset base environmental management. • Ranked 8th (Return on Assets) by The Banker Top 1000 World trophy, making history by becoming the of over Ksh400 billion and listed in Among the social programmes by Banks 2015 first business leader from Sub-Saharan Nairobi Securities Exchange, Rwanda EGF is the Wings to Fly Program, a • Best Bank in Corporate Social responsibility- Think Business Africa to ever bag the title. Stock Exchange and Uganda Securities Ksh10 billion scholarship fund that has Ruben Vardanian, President, Troika Exchange. The Bank has a regional benefitted 10,377 academically gifted • Beat Bank in Agency Banking- Think Business Dialog Russia and Chair of the judging presence in six countries and a pan- children from financially challenged • Best Bank in Kenya- Think Business panel said, “Not only has James really African expansion strategy. backgrounds with a comprehensive 2014 transformed people’s lives across Africa Since listing in 2006, Equity secondary school scholarship and • Bank with Lowest Charges- Think Business by offering them access to funding that Bank’s shareholder value has grown leadership programme as at 2015. • Best Bank in East Africa- Think Business they have never had before, Equity Bank 900% creating immense wealth for Wings to Fly is a partnership with continues to grow quickly through a shareholders. From a customer base of The MasterCard Foundation and 2013 strong financial performance.” 27,000 in 1993, the Bank is now home has also received financial support • Overall Best Bank in Kenya-Think Business Jim Turley, Global Chairman and to over 10 million accounts - nearly 50 from UKAID, USAID and KfW of • Best Bank Tier 1-Think Business CEO of Ernst & Young, said, “Over the percent of all bank accounts in Kenya, Germany. 2012 past 26 years, entrepreneurs have done and is the largest bank by customer base Through Equity Bank’s University • Best Managed Company in Africa in banking and finance sector - Euromoney more than any other group to stimulate in Africa with a focus at the base of the Sponsorship programme that benefits innovation, job creation and prosperity pyramid. the top boy and top girl student in each • Most Innovative Bank - African Banker during both periods of growth and Returns have grown from a loss district where the Bank operates, 2673 2011 in challenging economic conditions. of Ksh5 million in 1993 to a profit of scholars have so far benefitted with 265 • New Sustainability Champions redefining the future of growth - James epitomizes the vision and Ksh22.4 billion in end-of-year financial of the beneficiaries currently pursuing World Economic Forum determination that set entrepreneurs report in 2014, making Equity Bank the education/alumni in world leading • Africa’s Best Initiative in support of SMEs and the Millennium apart and is very worthy of the title most profitable bank in East Africa with universities including Ivy League Ernst & Young World Entrepreneur Of a compounded annual growth rate of schools in USA. Development Goals - Africa Investor Awards The Year 2012.” 78% for the last ten years five of which EGF in partnership with • Best Bank in Kenya – Euromoney In describing Dr. Mwangi as an have been ravaged by global financial The MasterCard Foundation has 2010 exceptional entrepreneur, Gitahi crisis. The Bank has been growing ten- implemented a financial literacy • Best performing Ai40 Company of the year in Africa - Africa Investor Gachahi, the Chairman& CEO, Ernst fold every five years for the last twenty programme in Kenya, dubbed Financial & Young Eastern Africa said, “Equity years. Knowledge for Africa FIKA and 2009 Bank is a study in good corporate The Banker Top 1000 World Banks reached 1.3 million women and young • Emerging Markets Most Sustainable Bank in Africa and Middle East citizenship. By giving all stake holders a 2015 ranked Equity Bank 8th on return entrepreneurs at a cost of Ksh1 billion. - IFC & Financial Times th compelling value proposition; they feel on assets and 18 on profits on capital. Out of this programme, 10,000 • Best performing Ai100 Company in Africa- Africa Investor that the bank represents their hopes and Equity Bank Group has evolved to entrepreneurs were selected and are • Microfinance Bank of the Year - African Banker Awards aspirations.” become a diversified financial services undergoing an acceleration programme • African Business of the Year - Commonwealth Business Council When receiving the award, Dr. provider offering a full range of on entrepreneurship. Previous Mwangi said, “This is a global recognition personal and corporate banking as winners of the Ernst & Young World 2008 for Africans who are embracing the well as investment banking, mortgages, Entrepreneur of the Year have come • Best Bank in Kenya – Euromoney power of entrepreneurship to change custodial services and insurance. from Singapore, India, Germany, Italy, • Best Performing Ai 100 Company in Africa - Africa Investor the economic and social state of Africa.” From a staff complement of 27, the Philippines, the United States, • Microfinance Bank of the Year - African Banker Awards Dr. Mwangi’s story of Equity Bank now has over 8,000 Canada, Switzerland, China, and the entrepreneurship is as amazing as it is employees in tandem with the United Kingdom. equity News 3

From the Team Leader’s Desk Be a dream maker: An entrepreneur is someone who identifies gaps in products or services and Some of the is willing to take risks to make the dream come true. lessons that I Ask yourself what you can do: What The Power of have learnt about can I do that will be most useful to most people? How can I change the situation entrepreneurship so that what is needed is made available Entrepreneurship include: to those who need it most? Make that your vision and goal and go for it. any African countries have been Convince yourself: If you cannot convince noted as showing positive strides yourself that your goal will come to pass, you Min reducing poverty amongst their won’t convince anyone else either. Convince yourself respective populations. first, with good reason, and others will follow. However, the fact still remains that despite Do not go it alone: An entrepreneur is dependent on, and relies on, the skills and several government and donor assisted knowledge of others. But he must be the leader who can bring these people, their programmes launched across Africa, poverty skills and their attributes together to create something new and useful. is still the number one enemy. Be dependable: If people trust you and you deliver time after time, then when you Africa remains a big paradox of a continent ask them to jump, they will not ask “why?” but “how high?” endowed with natural resources, a youthful Be enthusiastic: Your enthusiasm will infect others and set off a chain reaction human capital but is confronted with abject that makes even the impossible possible. poverty and high levels of unemployment. Be patient: Equity Bank is showing its best colours after 30 years of hard work. Developing an entrepreneurial mindset in Clothe yourself in values: Your values are what will attract all the other compo- our people is our most valuable tool as Africa nents you need - capital, expertise, partnerships - to help you make your vision strives towards economic empowerment. come to life. Africa ought to focus more on creating a Never stop learning: Learn something new every day and try to apply it to your conducive environment for entrepreneurship life and business. in order to harness citizens’ innovative Be humble: Many factors, and many people, come together to make success of an potential which will in turn support an enterprise. entrepreneurship culture and wealth creation. wealth generation among our youth. requires a vision, dedication and commitment The responsibility for creating employment Entrepreneurship entails undertaking to that vision, resilience and proper planning. should not rest on government and innovations and finance, coupled with Indeed, it is the people who have the vision, corporations alone but also on each citizen. business acumen and transforming these into passion and unwavering dedication that have There is a need to encourage Africans to be economic goods. It is the single most powerful the ability to do great things. Dr. James Mwangi more innovative so as to create their own agent for progress and has the potential to Great entrepreneurship is about solving Chief Executive Officer & Managing employment, thus empowering themselves solve the African paradox of a ‘resource rich the world’s most pressing problems. It is about Director, Equity Group Holdings Ltd. economically. but poor continent’. dedicating your life to a greater purpose. It is Entrepreneurship should be seen as a Starting a new business venture and the belief and conviction about the viability of source of employment, job creation and building it into a successful enterprise an idea. Equity Scholar bags Young Entrepreneur’s Award

iana Mong’are’s turn out this big, ” she adds. passion for a clean Four months later, she was environment has on a plane to South Africa. D With continental cachet placed her amongst Africa’s rising young entrepreneurs. and a cash prize of US$20,000, Diana, who admires the work Diana, 21, is behind the of the late environmentalist Planet Green concept Prof. Wangari Maathai, that bagged her the 1st says she hopes to spread her Runners’ up award at the campaign to schools; inspiring 2012 Anzisha Prize awards youth to be conscious about held in South Africa in the environment. June. Diana has experienced “I am very passionate about apathy from her peers, “At times, I see my friends the environment”, Diana told Diana Mong’are Equity News. That passion disposing litter carelessly, took root while Diana was and I have to remind them of still in primary school, and at night”, says Diana. Plastic their responsibility. We need a bloomed when she joined bottles and other recyclable different mindset.” secondary school at Kenya material were sorted for sale. As the fourth best High School. To dissuade her neighbours student in the 2011 KCSE “I was a member of the from dumping at the site, she examinations, and the top Environmental Club in school; launched a campaign to educate student in Westlands district, taking part in clean-ups and them on the need to properly Diana was selected to join tree planting”, she reports. dispose of their garbage through the Equity Bank University The idea for Planet Green use of polythene bags that would Sponsorship Program. She says began innocuosly enough. be collected regularly from their the Program has mentored her Diana realized that the huge homes. Thus Plant Green was to reach out for greatness. garbage mound near her born. “What I have learnt mostly residential home in Nakuru Diana’s work drew the is about being the best I can be; was not only an eyesore, but interest of the African achieving my goals and being that if the garbage could be Leadership Academy-the responsible,” she effuses. separated into recyclable and organizers of the Anzisha Diana who is currently non-recyclable refuse, it could prize. In February 2012, studying at University of net in an income. officials from the Academy Pennsylvania hopes to “I used some of my money visited Diana in Nakuru. They transform the society’s attitude to hire people to clear the were impressed. on environment. garbage, and also paid a “ When I started out, I was “I want to be the Wangari watchman to ensure people just following my passion”, says Maathai of my generation,” she didn’t dump any more garbage Diana. “I never knew it would says. 4 equity News Thinking Big: From a teacher to university owner

Above: Mount Kenya University . Inset: cities in 50 countries. The a serial innovator, with no less Gicharu revealed during an Simon Gicharu with ount Kenya EY Entrepreneur of The Year than five creations under his interview. EY Eastern Africa award is more than just a belt. To reach out to more Entrepreneur of The U n i v e r s i t y tribute; it is a celebration of He has designed and Africans who are thirsty Year trophy MFounder those individuals who have constructed a Tumbling for university education, and Chairman Dr. made it their mission to not composter, a Solar-powered MKU has innovated. It is Simon Gicharu is only provide solutions to dehydrator system, a Solar- now using technology to Lodwar Campus in rungs of the ladder of success doing something right. some of the world’s problems, powered egg incubator, a deliver programmes virtually Turkana County is Kenya’s in less than two decades Accolades keep flowing but to also drive economic Solar-powered brooder to students in 25 countries first university campus to be and own a university is in for the entrepreneur as growth. system and a Digital and Africa, Europe, Asia and opened in the marginalized inspirational as it is legendary. Graduating from Kenyatta well as for his university, In their remarks during analogue electronics training America. region. It was constructed at the induction, EY judges kit. Dr. Gicharu says the a cost of Ksh200 million, and University in 1990, Gicharu lecturers and students. is one of MKU’s key private- was employed as a teacher at No less than the and panelists observed that The university, on its part, university is training people public partnership projects the Thika Training Institute respected accounting firm one ideal that describes Dr. has won innumerable awards. to become job creators with the County Government and supplemented his income Ernst & Young inducted Gicharu’s journey to the crest Its high number of and not job-seekers and of Turkana. as a part-time lecturer at the him alongside 65 other top of higher education provision programmes aside, Mount is convinced using virtual The establishment of this Jomo Kenyatta University of entrepreneurs from around is innovation. Kenya has added a new platforms will help accelerate campus further underlines Agriculture and Technology the world into the World He transformed a loss dimension to university the rate at which it educates Dr. Gicharu’s standing as an ( JKUAT). Entrepreneur Hall of Fame making training college, education in the region by more African citizens. innovator in Kenya’s higher In 1995, he won a last June in Monaco, France. which could hardly meet its growing focus on offering The university has to date education landscape. British Council, three- This was after he had taken the rent obligations into the health science programmes. graduated 50,000 people His contribution to the month scholarship to study top spot at 2014 EY Eastern leading private university in Few private universities delve who he believes will help sector is nothing short of entrepreneurship at Cranfield Africa Entrepreneur of The the region. into the sciences because the transform the continent phenomenal. His amazing University School of Year Awards in April. The university has a programmes are expensive to through their skills. work has assured him of a Management in the United Dr. Gicharu was declared student population of over mount. To accelerate its expansion special place in the annals Kingdom. the Master entrepreneur 50,000. The work force The university built a programme, MKU works of Kenya’s higher education At the time, he was a category winner of has also grown from 3 to Ksh300-million anatomy closely with Equity Bank, history. Surmounting heavy mathematics teacher at Thika the Eastern Africa EY 4,000, including part time laboratory at Thika Level 5 its major partner that has odds, persisting and hanging Technical Institute. “When I Entrepreneur of The Year, staff. The university has the Hospital two years ago. The supported the institution’s on doggedly in the face of applied for study leave from 2014 Award. highest number of accredited university is using this facility growth since inception. adversity, knocking on doors of my employer, the TSC, I was Dr. Gicharu is an academic programmes (63) for teaching its medicine Dr. Gicharu appreciates high offices and ensuring they told I didn’t qualify because accomplished educationist, among private universities in students while the hospital this support. He cites the remain ajar for others with entrepreneurship was not entrepreneur, philanthropist Kenya. generates income from the university’s acquisition of similar needs to pass through, relevant to my teaching and anti-corruption “The EY award,” declared lab. its Law School premises in Kenya this entrepreneur subjects and the notice was campaigner. Dr. Gicharu, “is a stamp of A 2015 Talent Report in Parklands, Nairobi, the extraordinaire has given short. My principal never He has claimed the confidence in the way I lead titled Hiring: Trends, construction of Senate new meaning to the popular forwarded my request,” he enviable title of being the only MKU. It has energized me to Challenges and Future Administration Plaza in catchphrase, ‘thinking big’. remembers. individual in Kenya to have remain focused and do much Outlook showed that MKU its Thika Main Campus, When he did succeed in Nevertheless he proceeded started a Chartered university more, including increasing graduates are among the acquisition of the MKU establishing Mount Kenya to the UK for the programme, that has no affiliation to the the university’s capacity so top 10 most preferred by Towers in Nairobi’ City’s University in 2008 aged “knowing very well that I had State, religious organizations that it can handle 100,000 employers in Kenya. central business district as only 44, he became only the put my job squarely on the or professional bodies. students within the next ten As a way of supporting well as the Kigali campus second indigenous Kenyan to firing line.” As the first and only years.” the very community that as major projects funded by do so. He lost his job as a teacher truly global award of its MKU’s expanding family nurtured him, Dr. Gicharu Equity Bank. His feat was the greater but the risk he took laid the kind, EY Entrepreneur of of winners includes Dr. Jesse through MKU runs a The university has considering that the other foundation for his success as the Year celebrates those Gitaka, a medic, lecturer and Graduate Enterprise improved its infrastructure individual to have founded a an entrepreneur, high-profile who are building and research fellow at MKU who Academy that recruits 15 in Thika, Nakuru, Kigali, university in the country was educationist who has taken leading successful, growing, is a recipient of the Ksh10 alumni members and trains Lodwar, Kisumu, Mombasa, former President Daniel arap education to a place like and dynamic businesses, million Grand Challenges and mentors them on the Kisii and Meru. At the same Moi – no ordinary person in Turkana where the MKU recognizing them through Exploration award for 2015 rigours of entrepreneurship – time, it has opened new Kenyan society. campus is the first of its kind regional, national, and global by the Bill and Melinda for free. Centres in Uganda, Burundi, For a Kenyan of humble there and as a mentor for awards programs in 140 Gates Foundation. “We fund those with Tanzania as well as in Nyeri Another is Peter Mithamo, bankable proposals,” Dr. and Kericho in Kenya. origins to have scaled the many. equity News 5 Budding designer bags Equity prize surprisingly bashful. in the competition. The Kenya and fashion blogger or someone who Wachira, who bagged the budding designer, who is a Franklin Saiyalel took the 4th year Bachelor of Arts in aspiring designers through aspires to be a top prize in the Equity Bank- sponsored Vijana na Equity Design student at Kenyatta practical sessions in fashion noteworthy name F Design Your Destiny fashion University also received a and design. in the glamorous world competition ahead of 40 return air ticket and a cheque Fashion came effortlessly of fashion, sharing the other finalists, is very much for accommodation bills to to Wachira. As a young boy, spotlight and dinner comfortable in a warehouse, showcase his designs at the the last born in a family of tables with the leading amidst the whirl of sewing 2015 Hub of Africa Fashion four showed little interest in lights in the industry, machines and clipboards. His Week to be held in Addis toys, instead spending time Arnold Wachira is calm deportment works fine Ababa, Ethiopia in 2015. outfitting dolls. The ridicule for him. The top 40 budding of his peers did nothing to “That’s who I am, I am fashion designers were deter him from his seemingly very comfortable behind selected from nearly 200 peculiar passion. Wachira’s Watch video the scenes,” says Wachira entrants in the contest that inflection moment occurred adding that at the core, was conducted mainly online. when he showcased his first inspiration was his mother he is an aggressive A panel of five reputable fashion item at 13. who, on realizing that her son entrepreneur with a world judges from the industry The warm reception and had a natural eye for design to conquer. worked with Equity Bank praise from the judges was and fashion encouraged him Wachira’s creation, an in developing the contest, to the vindication he needed. not to relent in the pursuit of off-shoulder flowing dinner pick the top 40. The judges “From that point on, I knew his dreams. It didn’t bother dress won him the 1st-place who included Sally Karago, this is something I could be her that he had not settled cash prize of Ksh150,000 Chairlady of the Association successful at,” he says. for the traditional, well- of Fashion Designers of Wachira’s biggest ordered careers.

Top: Participants of the Vijana Wachira’s na Equity Design Your Destiny design. competition. Inset: Dr James Right: Other Mwangi confers a certificate to entries to the Wachira contest. Young scholars fanning entrepreneurial embers

Dr John Muthee (left) receives the winner’s prize from Equity Group Foundation MD, Dr Helen Gichohi (right)

any inventive, young people,” says John Muthee, enterprising a medical doctor whose concept, young Kenyans Ecademy Africa- an internet based M application delivering high school aiming to earn a living through entrepreneurship courses to Kenyan students won first position and a cash prize of end up abandoning the idea Ksh300,000 during the inaugural altogether, settling, and in awards ceremony in 2013. many cases languishing in The 2014 edition received close careers only for their keep. to 70 business ideas. Among the Financing concepts and start- top three were Taylee Kenya, a ups is considered too much of risk tours and travel business model by most financial institutions. In which won its founder Purity recognition that empowered youth Mugambi a cheque of Ksh 300,000, are the future of Kenya, Equity and WoodGate Ltd, a start-up Bank and has developed a strategy specializing in the construction of that is fanning the embers of youth specially-built food and vegetable ingenuity. shelters, locally known as Kibanda. For the last two years, the “It is all about appreciating Bank, in conjunction with the the power of creativity, and Group Foundation and Biz Corps what entrepreneurship can do to has held the Innovators Awards- transform live,” said Equity Bank an initiative that recognizes and CEO Dr James Mwangi during rewards creative and promising the 2014 edition. business concepts through cash “The youth are ambitious and prizes, business advisory and energetic, and when you provide linkages. financing, there is no limit to what “This is an empowerment these budding entrepreneur can vehicle, actualizing dreams of reach.” says. “We open till late.” Identifying and grabbing opportunity is a quality wired in

6 equity News Pitching the perfect “I saw an opportunity note to success and went for it” t’s easy to trace Suzanna Owiyo’s musical arc to 2001, when she gave new to Farida; a third hat reports Farida. “There are I that she is wearing, but over 1,000 motorcycles in one of the most authentic twapa town in one that she has slipped on Mtwapa, so there is need music performances of the Kilifi County decade during the Kisumu comfortably. for repair services and spare is a throbbing Farida opened the shop in parts.” centenary celebrations. M business hub; a busy town 2012, an investment advised On average, the service It was at that event that that doesn’t seem to blink. by a need she had identified: shed attends to more than 15 Owiyo unveiled the seminal Motorcycles and motorcycle operators in motorcycles per day. Farida Kisumu 100, a ballad that motorized rickshaws known Mtwapa needed a spare and has created a good rapport simultaneously served as a locally as Tuk tuk weave in repair shop in close proximity with the operators through tribute letter to Kisumu while and out of the evening traffic to the main bike bay and the outstanding customer service revealing Suzanna as a bona amidst pedestrians while Mtwapa-Mombasa road. and ensuring the shop is fide Afro-jazz musician. traders peddling a variety of “Business has been good, adequately stocked. She To this day, that merchandise call attention the reception very positive,” imports her merchandise in performance -- the five to their roadside stalls in bulk from China. minutes she spent on the flawless Swahili. “It’s all about seeing an rostrum, strumming her Watch video Standing outside her opportunity and going at it,’ guitar, her rich voice filling the Continued on Page 17 machine spare parts and Farida air and the airwaves and into motorcycle repair history-- remains a watershed shop, Farida Katsusu moment in Suzanna musical is engaged in life. conversation with a A lot has changed in motorcycle operator Suzanna’s professional and who has brought personal life since, but the my dream and soon I was advice and started banking his bike for repair. A one thing that has remained performing as a background with Equity Bank. “When mechanic, wrench in constant is her love for music vocalist on her band.” the Fanikisha women loan hand, crouches next and the arts. Though the gig didn’t product was rolled out, I to the bike, tinkering “I love music; enjoy doing pay a lot of money, it opened applied for a facility. I was with the engine. The music,” she intones in her doors for Suzanna. When able to purchase music engine hasn’t been signature deep timbre. We are Kisumu’s Kimwa Grand instruments which I still use functioning properly. in her office at the Godown Hotel opened at the close of for my band and also hire out. Problem identified; Arts Centre in Nairobi’s the ’90s, Suzanna was hired to I look at all this, and see the there is a missing Industrial Area. The room is form the hotel band. results of that loan,” she says part that Farida sufficiently arty; a miniature “That job gave me a lot of as she scans her office. retreats into the shop Orutu, a one-stringed confidence as a performer,” Her journey with Equity for. instrument hangs on one recalls Owiyo. It was while Bank has been beneficial, This is all rather wall while on the facing wall Farida serves a customer at her hardware shop in Mtwapa Town performing there that she a factor she credits for her is a photo collage, detailing met a promoter who liked significant growth as an her travels and the numerous her voice. “He bought me my entrepreneur. “There is a time celebrities she has met: first guitar and told me I had I had been offered a contract Yossou N’dour, Spike Lee, a lot of talent that I could use to do a promotional song that Elton John, Oprah Winfrey, to do my own songs instead needed to be recorded and Oliver Mutukudzi among of copyright renditions,” she distributed within a short others. She calls it her ‘Wall remembers fondly. notice,” Owiyo explains. of fame.’ Soon, Suzanna was on a “Well, I got an initial The roomy office also bus headed back to Nairobi down payment commitment, serves as a rehearsal joint for where she met renowned but in form of a cheque, and upcoming musicians. music producer Tedd Josiah I needed the money to record “My aim is to nurture new who mentored her and right away. I rushed to my talent. It’s a way of offering recorded some of her early Equity branch, explained direction and support. The numbers. Around that time, my predicament, and in no same way I also made it into she learnt that the organizing time, I got an advance on the the music industry,” says committee for the Kisumu uncleared cheque! I thought I Suzanna. centennial was looking for was stuck.” Suzanna didn’t grow up a suitable song to mark the Owiyo’s life is a blur of in a musical family, which milestone. activity; while she is not made her talent all the more “The story has never been schlepping a bag across an spectacular. Save for her the same,” Owiyo says. “That airport lobby to catch a flight grandfather, who was a prolific song opened doors for me.” for a performance abroad, she Nyatiti (an eight-stringed With a bevy of hit songs, is busy in the studio recording traditional music instrument) continental and global cachet or mentoring young talent player, no one in her family and a thoroughly active or attending sessions at the was musically-inclined. life, Suzanna is living every UNEP where she serves as a “Throughout my school moment. “It’s been worth it, Goodwill Ambassador. days, I excelled in music. I the challenges and all,” she Recently, she launched an was the lead soloist in music remarks. initiative dubbed ‘Soko Bila competitions and helped A large part of Owiyo’s Waste’ which aims to sensitize bring awards to my high success is anchored on a the public about food wastage. school,” she reminisces. keen ability to interpret her The Godown Arts centre, After high school, music career as a business. with its murals, community Suzanna moved to Nairobi That alertness, coupled with of artists and palpable in the mid ‘90s where she opened doors has enabled creative energy is a place of worked at a stationery shop. Owiyo to reap benefits from rejuvenation and inspiration; All along, she hoped for a her talent. a place Suzanne Owiyo feels musical breakthrough. One “A couple of years into my at home in. day while at a restaurant, career, I needed to upgrade Owiyo’s office is located she picked up a newspaper my equipment and I didn’t at the farthest end, such that article that featured an Afro- have enough money and one has to walk past several jazz musician named Sally approached a close friend of similarly-appointed offices, Oyugi. Intrigued, Suzanna mine,” narrates Owiyo. “She as if tracing a journey to the skimmed through the article gave me invaluable advice; top. Anytime a group of young to the bottom where Suzanna she said ‘Why don’t you join people walks into her office for telephone contact was listed. Equity Bank, start by saving a rehearsal session, Owiyo lives “I immediately got in whatever you have?’” her dream all over again. “I feel touch with her, sold her Suzanna says she took the energized, satisfied,” she says. says. “We open till late.” Identifying and grabbing opportunity is a quality wired in

equity News 7 Rohit Kumar Equity Group’s commitment Chief Officer, Corporate & Sme Banking to growing SMEs in Africa Rohit Kumar Singh joined Equity in 2014 and is responsible for growing and nurturing the Bank’s The journey of Equity Group is an entrepreneurial medium enterprises. Additionally, Equity has empowered relationships with SME and story. The story began from a start-up in 1984, an insolvent and trained each of its relationship managers to be adept at large corporate clients across building society that undertook a series of transformations, understanding the needs of entrepreneurs and advise their the Group. In 2015, he was from a micro-enterprise to a small and medium enterprise, businesses on improving its financial management, human named by Kenya’s Banking to become one of the leading financial institutions on the resource management and how to access markets as well as Awards as the Corporate continent. As a result of Equity’s first-hand experience of helping them build robust and scalable operating models Banker of the year. growth, we recognise the important role that micro, small (including sharing best practices to tackle issues of corporate Prior to joining Equity, and medium enterprises (MSMEs) have in achieving the governance and succession planning that are common Rohit has held senior Rohit Kumar Singh with his vision of Equity Group “To be the champion of the socio- among SMEs). management positions at “Think Business Corporate Banker of the Year” trophy economic prosperity of the people of Africa.” As entrepreneurs grow their businesses into medium Emirates NBD Bank in Underlying all major developed and emerging economies enterprises, Equity meets their more complex needs Dubai, Business Development is a strong small and medium enterprise (SME) sector through one-on-one relationship management and access Asia in Mumbai, Private Capital Management in Naples that contributes in excess of 40 to 60% of GDP. Yet most to investment banking services as well as customized wealth and McKinsey & Company in New York. He has extensive countries in Sub-Saharan Africa fall below this threshold, and asset management, brokerage, insurance and custodial experience in corporate banking, SME banking, investment including Kenya where SMEs contribute approximately services. Additionally, Equity Group has established strong banking, private equity, capital markets and investment 20-30% of GDP. Hence, growing the SME sector is an partnerships to incorporate local SMEs in the value chains management. imperative for Kenya to achieve its Vision 2030 programme of the over 30 Fortune 500 and multi-national corporations In an international career spanning more than 17 years, of being a globally competitive and prosperous nation by that have established Kenya as their central office for their Rohit has not only worked in developed economies of North 2030, and for all Sub-Saharan Africa countries to become pan-African operations such as Tullow Oil and General America and Europe but also quite extensively in emerging middle income economies and fulfill the objectives of the Electric. economies of Africa, Asia and the Middle East. Rohit holds UN’s Millennium and Sustainable Development Goals. Finally, when our customers become large enterprises, a MS (Finance) degree from Boston College, USA, an MBA In order to achieve this objective, Equity has and we remain their primary growth partner to support their from Cardiff Business School, UK and a Bachelor degree in continues to listen in order to understand the challenges and expansion regionally and internationally following in the Technology with Honours (Civil Engineering) from Harcourt barriers faced by entrepreneurs of MSMEs, such as lack of foot steps of Equity Group. Equity Group has setup a Butler Technological Institute, India. Additionally, he is a or limited access to finance, markets, skills and knowledge team of global industry specialists, each with over 25 years graduate of the Strategic Leadership Program from IESE to grow their businesses. This has allowed Equity to develop of specific industry experience to provide the technical Business School, Barcelona and has completed an advanced tailored solutions to these issues. knowledge and capacity needed to support the aspirations of technology program from Carnegie Mellon University, USA. Consequently, Equity Group in collaboration with these successful entrepreneurs. We also work in partnership its development partners, set out to scale up the SMEs in with global networks of CEOs such as the Frontier 100, the region by offering inclusive, customer focused financial established by the Initiative for Global Development, to services that includes comprehensive and creative solutions strengthen partnerships between U.S., global and African Jumaane Tafawa to support the growth and development of entrepreneurs businesses and support poverty reduction through business Director Strategic Partnerships of MSMEs. More specifically, Equity Group seeks to growth and development. & Program Management graduate the bedrock of micro-enterprises, which it has Along this journey, we support our entrepreneurial successfully brought into the financial sector, to become clients with customised banking solutions, supported by Jumaane Tafawa holds an small then medium and eventually large enterprises driving a strong balance sheet. Equity has partnered with the MPA from Harvard University. the economy. At each stage of this customer journey, Equity African Development Bank (AfDB), International Finance He joined Equity Bank in 2012. supports its clients with tailored and innovative solutions. Corporation (IFC) of the World Bank Group, European At the Group level, he For micro-enterprises, over 1.2 million individual and Investment Bank (EIB), KfW, FMO and other development oversees all SME related micro-enterprises, with a focus on women and youth, have focused financial institutions to secure access to long-term strategic initiatives across Equity undertaken a Financial Literacy programme offered through finance that will match the tenure of SME loans. In addition, Bank Group, including Equity Bank SME division, Equity Equity Group Foundation (EGF) in partnership with The Equity has been supported by Financial Service Deepening Investment Bank, Equity Consulting Group, Equity Insurance MasterCard Foundation, with support from International (FSD) and a number of other development partners to Agency and Equity Group Foundation. Labour Organization and Equity Bank. Thereafter, EGF strengthen its capability and provide capacity building to its He also leads major group-level partnerships and offers an Entrepreneurship Education programme, which SME customers. collaborations. Jumaane has over a decade of business strategy in the pilot phase trained over 12,000 micro-businesses of Equity Group has further strengthened its product and small and medium enterprise (SME) development which 95% improved their business practices such as record suite to cater for the sophisticated needs of the SMEs. On experience gained through his work in the private, government keeping, financial planning, people management, inventory the financing side, Equity provides customized cash-flow and non-profit sectors, in over 60 countries. He has spent management, and marketing. The program also includes more and asset-based lending solutions with flexible repayment most of his career as a management consultant improving the advance modules for small enterprises. Over 75% of these terms and moratorium periods, and has the ability to take effectiveness of multiple SME development programs across businesses have increased their access to finance. Post pilot a variety of collateral. Its loan offering includes but is the world, especially across Sub-Saharan Africa. phase, both the Financial Literacy and Entrepreneurship not limited to term loans, working capital, equity release Education programme have been digitised to achieve greater loans, project finance, property purchase, syndicated loans, scale in line with the objective of EGF to impact 100 million asset finance and non-funded facilities. It allows SMEs to lives by 2024. deposit money through a variety of physical channels such Philip Sigwart For small enterprises, Equity Group established Supreme as branches, agencies, ATMs and cash deposit machines Executive Director branches to specifically offer a one-stop-shop to cater for the and other alternative channels such as mobile banking and financial needs of over 15,000 SMEs. Equity Group supports internet offering. Equity has one of the most comprehensive Philip Sigwart holds a the growth of these businesses by providing business training cash management services that allows its customers to Master’s degree in Economics and consultation, networking and knowledge sharing through have end-to-end visibility and monitoring across all their from the University of St. Gallen Equity Business Club, which caters for both small and accounts while facilitating payments and collections. On in Switzerland and a Master’s in the trade finance offering, International Management from Equity Group facilitates the Community of European cross border trade of its Management Schools. He is a Strategic Focus on SMEs to Nurture Client Evolution customers by providing specialist of MSME banking in transition and developing letter of credit, guarantees, countries. Prior to joining Equity Group he was Executive We Are Following Our Customers Evolution pre and post shipment Chairman of ProCredit Bank in the DR Congo, CEO Large Enterprises finance, factoring,of ProCredit Bank Kosovo and Chairman of the Kosovo Micro SMEs bill discounting and Banking Association, and CEO of ProCredit Bank Georgia. Enterprises Consumer and documentary collections. He stared this career as a bank adviser with the Russia Small Agriculture Technology plays Business Fund of the European Bank for Reconstruction and 18% 50% a very important role Development. 41% 41% 15% in robustly serving our 25% 7% 3% customers. Equity Group has a state of the art tier 4 Elizabeth Gathai 2009 Mar-15 2009 Mar-15 2009 Mar-15 2009 Mar-15 data centre that enables it Director Of Credit Contribution to Loan Book to provide a secure channel Elizabeth holds a Masters Increased Focus on SME Loan Book to deliver content and degree in Business Administration services via mobile and 2009 March 2015 from the University of Nairobi, internet content. Through Bachelor of Commerce degree the Equitel MVNO in finance, and a Certified Public 32% (Mobile Virtual Network 32% Accountant CPA (K). She is a 44% Operator), Equity Group 44% graduate of Advanced Management 56% sits at the cutting edge 56% 68% 68% Programme (Strathmore- IESE of the convergence of Business School, Barcelona Spain) and Management Executive telecommunications and Programme (Maastricht School of Management (MSM)- financial services. Netherlands). She has over 14 years of banking experience. All our trade finance, Continued on Page 19 1 cash Bor REGIONAL FOOTPRINT Boma N.P

Southern N.P

Equity Group Holdings Limited Headquarters, Bandingilo N.P 5 Branches Torit Yambio Equity Centre, Upperhill, Nairobi Kidepo Game Reserve 8 equity News Kajo Keji Nimule The Equity Bank journey

RWANDA

Mwanza

Lake Manyara N.P Arusha N.P

Tarangire N.P

Mkomazi N.P

Mahale N.P Dodoma

Saadani N.P

Katavi N.P

Mikumi N.P

Ruaha N.P

Udzungwa Mountains N.P

Transforming lives in Africa, one branch at a time.

BRANCHES 228 (a) Branches in Kenya 166, Nairobi 45 (b) Branches in Uganda 31, Kampala 17 (c) Branches in South Sudan 11, Juba 6 (d) Branches in Tanzania 9, Dar es Salaam 6 (e) Branches in Rwanda 11, Kigali 5 Above: The first Equity office in Kangema. Right: Equity Centre, the Equity Group Head Office. Agent Outlets 17,523 Point of Sale Terminals (POS) 24,223 ATMs 602 stubbornly to a small piece best, treasonable at worst. rekindled dreams, financial chain in the financial services “We were ranked number o a person not of real estate in Kangema As the first Equity freedom and most important sector; a negligible firm 66, out of 66,” says Equity EQUITY HAS COMEof all, empowerment.A LONG WAY…hemorrhaging millions of Group CEO Dr. James privy to its town. But for residents branch-and in all practical of a certain generation, ways the original Head For many years, Equity, shillings year to year. Indeed, Mwangi, of the struggling history, the shop Office- the small shop in which started off as a in the early ’90s, Equity building society. T that perception would be Continued on Page 9 is merely one of several the heart of town represents mortgage provider in 1984, was declared technically similar stores clinging considered a travesty at sat at the bottom of the insolvent.

Awarded Overall Best Bank in Kenya 2015 (2nd year in a row) & Bank With Repositioned a Listed at the Awarded African Introduced Agency Awarded Best Lowest Charges (3rd futuristic business Nairobi Business of the Year, Banking Bank in year in a row). Winner strategy Securities 2008 Kenya 2013 in 10 categories out of Exchange (NSE) 25. Global Vision Award in Microfinance

1994 2004-06 2008 2009 2011-12 2014

2000 2006 2007 2008 2010 2013 2015 1984 Building Transformed into a Transformed into Entered into Launch of Equity Introduced Entered into Launch of Entry into Society Micro-Finance Commercial Bank Uganda Group Mobile Banking Rwanda, Equitel Democratic focused enterprise Foundation (Eazzy 24/7) S. Sudan & Republic of Tanzania Congo

Performance Trend Analysis Wealth Creation for Shareholders

#CUSTOMERS (‘000S) Number of Value 1991 1996 2001 2006 2011 2014 Share Change Shares Price Value Change Funding 29m 302m 1.6b 16.3b 159b 246b Kshs 61 Loans105 8.6m155 169m252 0.8b413 10.9b 113.8b556 214b 1014 1840 32962000: Before4371 split 5908 1 715120.00 7838 20 84070 9600 Total Assets 24m 213m 1.9b 20.0b 196.5b 345b Profit Before Tax (4)m 10.6m 55m 1.1b 12.8b 22.4b 2000: 1:3 Split 4 50.00 200 1,000% 2000 2001 2002 2004 2005 2006 2007 2008 2009 2011 2012 2013 2014 Shareholders fund (18)m 22.5m2003 238m 2.2b 34.2b 64b 2010 Customers 9k 26k 105k 1.014m 7.150m 9.660m 2004: Bonus 1:5 20 50.00 1,000 5,000% Staff 27 57 165 1395 6243 8690 2007: Bonus 1:3 60 84.50 5,070 25,350%

2009: Split 1:10 600 12.50 7,500 37,500%

1 2014 600 50.50 30,300 151,500% equity News 9 Equity Group board of directors

James Mwangi Peter Munga MANAGING DIRECTOR & NON-EXECUTIVE CHAIRMAN CHIEF EXECUTIVE OFFICER

Continued from Page 8 Against such a Rwanda, Uganda, Tanzania, South Sudan, discriminative, a cabal reserved for the and ‘banking’ their money under the background, Equity and the Democratic Republic of Congo and well-heeled, locking out majority of the proverbial mattress. It is in this context Group’s current position as one of the with an asset base of more than Ksh400 population. When the long-established that Equity, which by now had made biggest companies in the East African billion. multinational banks started closing their strategic and structural changes, found an region is almost unfathomable. But the Bank’s legacy is its central roles rural branches in the ’90s, deeming the rural opportunity and seized it. With over 10 million customers, the of democratizing the banking industry, market unsustainable, they left common Equity converted to a bank in Bank holds the enviable position of the and empowering Kenyans. For many years people with few options. 2004-entering a decade in which the bank with the largest customer base in beginning from independence, the banking They could only access financing company engineered a stunning turnaround. the region, the Group has subsidiaries in sector was parochial and inordinately through the few existing savings societies, Your satisfaction is our greatest prize overall Winner Best Bank in Kenya (2 years running)

Winner Winner Winner Winner Winner Winner Winner Winner 2nd runner up Winner Agency Banking Commercial Retail Banking SME Banking Best Bank Product Corporate Lowest Charges Customer Corporate Microfinace Tier 1 Marketing Social (3 years running) Satisfaction Banker of the Responsibility Year

We are honoured to have received 10 of the 25 awards given in the 2015 Think Business Banking Awards. We see this as recognition of our continued efforts to make banking inclusive, accessible and a way of life -­ something you do, and not somewhere you go. We will continue to challenge ourselves to keep raising the standards of our products and services to serve our 10 million and growing Members better. Asante Members 10 equity News equity News 11 12 equity News It is sweet profits for sugar Snap peas farmers A technical staff member sprays smartly dressed Peter crops in Marimba. EuroGAP requires Kimathi cuts the success use of the right gear Afigure of a farmer in a rural setting. He is a sugar snap farmer that his colleagues in Marimba Vision Self-Help Group hope to emulate. Income from sugar snap peas exported to Europe has enabled him to put up a house complete with running water and electricity. “I started from nothing but with guidance from our partners life is now different,” says the founding Chairman of the self-help group. The turnaround in his life started when he joined other farmers to cultivate the sugar snap peas in partnership with Indufarm Export Processing Zone (EPZ), Bayer Crop Science and Equity Bank. In the Anninah collaboration, farmers get funding Gakii (above) for inputs from Equity Bank to inspects her crop of grow the crop for a ready Europe sugar snap market secured by Indufarm. Bayer peas. She Chemicals provides technical has managed support for proper crop husbandry to buy four to guarantee high yields and exotic breeds quality that meet the stringent of dairy cattle Doris Kirimi delivers her sugar snap peas harvest to the sorting centre at acquired from EuroGAP requirements. EuroGAP, Kithaene market the sugar which stands for European Good snap peas Agricultural Practices, is a standard income (left) for the certification of agricultural a timely way,” says Joseph Mwirigi, Watch video products to enter the European the Chairman of Marimba Vision. market. Another farmer Anninah Gakii plant 2.5 kilogrammes of sugar snap The partnership acknowledgessays farming sugar snap peas opened peas on a quarter of an acre. The the farmer as a critical component in a whole new world for her mainly crop husbandry including spraying the value system. Farmer members because it prompted her to open a and pests and diseases inspection is of Marimba Vision, Kathera and bank account. She says the crop and carried out by skilled technical staff other self-help groups in Imenti the account have given her financial who use approved equipment and South District of Meru County power and independence to support safety gear. Produce delivered to a are motivated to grow the peas as her husband in taking care of her collection centre is sorted, weighed and packed in crates. It is then a business because income levels household. James Mwenda, and timely payment through their “I opened an Equity Bank ferried to Nairobi for packaging a teacher in accounts at Equity Bank Nkubu account because it was a requirement and onward export to the market in Mandera has branch is certain. for payment to be sent to me by the Europe. invested in the buyer. Before, I was growing potatoes A financial training course by sugar snap peas The remarkable transformation of farming their lives is the result of adherence to and other crops but I was not saving Equity Group Foundation has a model designed to fetch pre-agreed because I did not have an account. I further empowered the farmers to premium prices through contract now save and even took a loan to buy manage their income prudently. farming. two Ayrshire dairy cows that give me Many like Kimathi and Anninah “Timing in farming is everything. a lot of milk,” says Anninah. have saved and taken facilities to put We are grateful to Equity Bank for Farming the sugar snap peas up a family home, diversify into other Farmer at international providing us with loans for inputs in crop has also attracted the youth to farming activities or invest in other farming as a business. James Mwenda viable businesses to increase their Agrifin forum in Turkey is a teacher who has invested in the channels of income. This is true for business. Elias Mwiti who has served as the farmer I had the privilege to discuss He has employed one permanent farmers’ self help groups Coordinator ugar snap farmer Elias farming issues at the global level. The world knows we are doing well staff who takes care of his farm in Imenti South. Mwiti confirms Mwiti had occasion to that farmers earn at least Ksh95,000 because of a model that brings us throughout the year. Mwenda says attend an international the business is viable and does not from a quarter acre farm every three S together with Indufarm, Bayer and require his physical presence because months. agricultural finance meeting Equity Bank to get good income,” it runs on quantifiable parameters The quarterly income from the held in Istanbul, Turkey in says Mwiti. and structures established by the sugar snap peas has enabled Mwiti May 2015. “I am proud to say that the The trip to attend the Agrifin Kimathi at his home partnership. to secure asset financing to buy a taxi relationship between the farmers All the farmers are required to that brings him income on a daily Forum 2015 and participate in a and our partners is not just a village basis. panel of discussants will remain affair but a relationship recognized etched in his mind forever. “As a even abroad,” he says. Tasty legume with crunchy taste

nap peas (pictured ) are pod is eaten and has a crunchy at their tastiest immediately after also known as sugar texture and very sweet flavor. harvest. Often served in salads or snap peas, and are a They are legumes meant to be eaten whole. They may also be stir- S harvested and eaten with both fried or steamed. cross between snow peas and garden pods and peas. Snap peas may be The scientific name of sugar snap is Pisum sativum var. peas. Theeaten raw or cooked. There may be tough “strings” at macrocarpon. Snap peas may grow whole the seams of the pods that need to two metres (6.56 feet) or more, to be removed before being eaten, but more typically are about 1.3 but stringless varieties are also metres (about four feet). They have now available. a vining habit and require a trellis Like sweet corn, peas are or similar support structure. Mwiti (inset and 2nd right) participates in a panel of discussants. 14 equity News Livestock trading: the new frontier

Abduba Waqoh with his herd on a market day in Isiolo.

having travelled from as Traders are engaged in price Watch video a loan, approached the Isiolo So far, we have advanced arket days in far as Moyale and Wajir. negotiations for the best deal Equity Bank branch where over Ksh5 million, and the On this Thursdayfor their cattle. In the middle cattle traders in Isiolo, has he has been a customer for repayment is very positive.” Isiolo attract of it all is Ahmed Abdullahi. many years. “I was able to get Abduba Waqoh is scores of morning, the market, located been in the business for the M on the outskirts of Isiolo Abdullahi, one of the last 15 years. This day, he has a loan of Ksh400,000 which another pastoralist who has pastoralists and cattle town, is teeming with life. most respected and seasoned enabled me to purchase more benefitted from loan facilities traders and buyers, some brought a truck-load of goats and expects to sell the lot and livestock, and my business from Equity Bank. Waqoh bank a good sum of money. has bounced back,” he says. had been engaged in the Abdullahi usually buys trade for four years before he cattle from Wajir and took out a loan facility worth Mandera, where he says “My budgeting Ksh200,000. prices are fair. He then has improved; He says that on a good fattens them at his ranch month, he rakes in a profit located a few kilometers from every shilling is of between Ksh25,000 to Isiolo town and sells them Ksh30,000. for a handsome profit. His accounted for, Dr. Joseph Sukunatu, the main customers are abattoir FH program coordinator in owners in Isiolo. so I know the charge of Isiolo and Marsabit Doing business in the exact profit I am says that the turnaround in sometimes volatile North the fortunes of traders in the Eastern region is however deriving from region as a result of financial fraught with peculiar enlightenment has been challenges. In 2011, each animal sale” impressive. “In this region, Abdullahi lost 55 of his - Abduba Waqoh most traders have deep- animals to cattle rustlers, an seated reservations about incident that set his business loans; add that to the nature reeling. of their business and you “It is challenging Abdullahi acknowledges realize the challenges,” he sometimes, but this is my that the financial education says during an interview at livelihood,” he says. he has received from Equity the FH offices in Isiolo town. Another challenge is Bank and Equity Group “But we have witnessed a big the tenuous nature of the Foundation has awakened change as a result of financial business. Though lucrative, him to management skills he training. Pastoralists are cattle trading has for years had always assumed he had. realizing the advantages of discouraged financial“I am now able to separate structured business.” institutions from advancing my personal finances from FH has facilitated BIMA YA MIFUGO loans to traders. business finances and I know educational tours for select However, due to an the advantages of this,” he pastoralists to model ranches impactful partnership says. in Nanyuki where they have between Equity Bank and “My budgeting has gained insights into proper This is a livestock insurance cover against losses due to accidental death, Food for The Hungry (FH) improved; every shilling is animal husbandry. diseases of a terminal nature, theft of livestock and from calving/furrowing organization, traders like accounted for, so I know the The organization has complications. Abdullahi have benefitted exact profit I am deriving also helped set up trading Livestock covered: from loan facilities. In the from each animal sale.” centers in various areas in the Equity Bank Isiolo Northern Kenya counties to Dairy cattle, beef cattle, poultry, pigs, sheep and goats partnership, FH and Equity Bank jointly engage traders branch manager Abdi help traders save on transport in financial training - Godana sees immense costs. This has also had advising them on proper loan potential in the region as additional advantages as local management and business most of the major hindrances communities are empowered. skills, after which they qualify have been addressed. “One of Additionally, FH has for loan facilities. So far, over the biggest issues we needed facilitated market linkage for 200 traders have successfully to address was financial the pastoralists through these literacy,” he says. “With more ranches. For more details, contact Equity Insurance Agency on Tel: +254 763 063 000 or Email: [email protected] completed the training with Terms and Conditions apply: This Insurance Cover is underwritten by Heritage Insurance traders getting enlightened “Our partnership with @KeEquitybank KeEquitybank majority of them receiving loans. on proper financialEquity Bank has had Abdullahi, who had initial management, we have seen immense results in the lives misgivings about taking out an increase in loans uptake. of the people here,” he says. equity News 15 From hawking in the backstreets, to chain stores in the mainstreets

The Jade Collection outlet in Eldoret. Inset: Owner Banice Gatheka

Watch video ate 2014, Eldoret passion and customer the ‘Jade’ label on the inside town ‘s bustling proprietor of Jade Collections, satisfaction. collar. The move, she says, Lbusiness saw a leading outfitter retailing in “It’s not just doing is part of making the brand the entry of a new a wide variety of cloth items something for money; it’s a globally competitive and clothing emporium, ranging from men, women about love. We want our identifiable entity. Jade Collection. Already and children wear as well as customers to look and feel For Banice, the launch established in Nairobi accessories, bags and shoes. right (about our merchandise)” of the Jade label fits into a and Thika town, Eldoret “We are seeing the fruits As part of re-positioning growth narrative that’s still would be the third outlet of our perseverance,” says and enriching the Jade evolving. “It starts with having Banice as she surveys her brand, Banice has launched a a dream, about having focus for the fast-growing cloth branded clothes and shoe line. and not losing that dream.” and shoe wear company, recently opened clothes and Jade Collections, named after its varying collection of a precious sea-green gem. clothswear was an instant hit “We now have Jade-branded Very much like starting with and for the owner, Banice footwear shop in Thika town. The outlet is an offshoot of When Banice opened Jade with the market. The shop shirts and shoes,” says Banice a single bag of clothes. Gatheka the realization of the flagship shop located in Collections four years ago, her offered, and continues to offer, as she holds out a shirt with a dream to colour towns Nairobi’s Central Business objective was to offer quality a wide selection of clothes and cities across with the District. The shop is whirring yet affordable wear to her ranging from casual, evening, seagreen themed brand. with activity as staff members customers. Her foray into the office and children’s wear as As the ribbon was cut attend to shoppers. fashion business was guided well as shoes. to officially announce the Banice is dressed in a by a long-held sartorial But as business grew, entry, Banice couldn’t help turquoise dress, matching passion. It was therefore not so did the need to expand but time-travel to the nascent earrings and shoes. It soon difficult for her to resign from and keep up with customer days and humble beginnings becomes apparent why: this is her teaching job to plunge demands and tastes. With of Jade. not only her favourite colour, into business. incremental financing from Mostly, she remembered it’s in line with her brand: She hasn’t regretted once. Equity Bank, Jade Collections walking across the airport “I am very passionate in what quickly established itself as with a small consignment of I do. I wanted to do business a formidable presence in cloth items she had bought when I was young since I Nairobi’s fashion circles. in South Africa; all the “Success in could give all I had,” says “We had a lot of customers merchandise fitting in a single business is Banice. from Thika, and we felt bag. What Banice had, in After she resigned, we should open a store in addition to that one bagful of achieved from she secured a table in an the town,” Banice says of clothes was a driving ambition the intangibles: exhibition store in Nakuru her decision to extend the to own a clothes store. involvement, town, then two more as the company’s footprint. “We “I hawked the merchandise business grew. Soon enough, plan to have branches all over in that bag,” recounts Banice. passion and she was distributing clothes to Kenya and the region in the “I had faith that with that one customer supermarkets. next three years. Everything is bag, I could launch something “It was then that I decided possible.” big.” satisfaction. to open my own shop,” Banice Banice acknowledges It’s been a long journey, It’s not just doing narrates. Having learnt the the partnership and cordial but Banice has walked every something for workings of the industry, relationship she has had with step of it; challenges and all, it was time. “Equity Bank Equity Bank. to be where she is today: a money; it’s about believed in my vision,” she “In addition to financing, globe-trotting entrepreneur love.” continues. “With the money I have received advice and with her own clothing label; I had saved, and financing mentoring in business from owner of a fast-growing brand -Banice Gatheka from the Bank, I was able to the Bank,” she says. with branches in Nairobi and launch.” Banice says that success Thika and a blueprint for a The flagship shop opened in business is achieved from chain of others. Banice is the in Nairobi in 2009, and the intangibles: involvement, equity News 13 Farming and supplies is a lucrative enterprise works with to the Bank. to meet the demand for fresh independent farmers. They Meru farming “They believe that without produce. They franticallyhave also created employment The Koomes at their me, they would not be with moved around Meru town and source of livelihoods for property in Meru family attests to the bank. I enjoy a warm looking for a Ksh20,000 loan. many families in the area. Athe truism that relationship with the co- Nine years down the In the areas where they the darkest hour of the operative farmers and I am line, the Koome family grow the produce and also night gives way to dawn. happy that I have been of is surrounded by the subcontract farmers, the family “I thank God for Equity; help.” heartwarming chain of events has been participating in it was behind our amazing The family realized that it that this single action sparked. making the roads accessible so turnaround. could not meet all the financial They cannot hide their delight that the fresh produce reaches We have seen growth needs of the farmers they had at helping improve the lives of the market fast. every year since 2003 and we contracted so they introduced others. Lydia is happy to note know that without anybody them to the Bank. In their unique that, “The roads help save the supporting you, you can’t grow,” As her husband, George arrangement, George is the farmers’ produce from getting are the words of Uchumi fresh Koome explains, “All the farmer and Lydia one of the spoilt before it reaches the produce supplier Mrs. Lydia money transfers we make to major Uchumi fresh produce market.” Kathambi Koome who has the farmers are within Equity suppliers from Meru. While providing a source built strong ties with the Bank. Bank. On our part, whenever On the family farms, of income for others, this George Koome and his we want to make a financial George produces 80 percent Meru family has made wife Lydia Kathambi Koome decision, we consult staff at of the produce that Lydia great strides in business. In farmed horticultural crops and Equity. It is true as the bank supplies to the supermarket. 2003, Lydia was capable of began supplying the produce says that it is a listening, caring From the farmers that the supplying – in a paper bag to Uchumi Supermarkets way partner. I have seen this in my family subcontracts, they – only 10 kilogrammes of back in 2003. life.” obtain 15 percent of the She is equally proud of A time came when they produce and the remaining Watch video introducing the farmers she needed to boost their finances 5 percent is sourced from

tomatoes, carrots and onions gesture took her aback. “I at Gakoromone market. She always thought that banks then increased to supplying were only for the rich after 50kg of fresh produce using what I had previously gone a wheelbarrow. When the through,” says Lydia of the family acquired a Datsun pleasant experience that 1200 pickup as their first changed her perception of transport vehicle, the supplier what a bank is supposed to had made a big leap. do for its customers. But that fades in The family repaid the comparison to where they first loan within three are today as owners of several months then took others of Mitsubishi Canters and Land Ksh50,000; Ksh100,000 and Cruisers that help them Ksh150,000. undertake a variety of tasks Emboldened, they went on the farms and deliver back to Equity in 2006 for a produce to the market. Ksh2.5 million mortgage to They bought a 50- buy the family’s residential acre piece of land that is a house. They have taken 25-minute drive from Meru many more loans to grow town. On this land, they their businesses. And this launched their export drive family’s journey with Equity by growing crops that are in continues. demand in foreign markets. To budding entrepreneurs, The couple hopes to supply Lydia’s words of advice Kenya and beyond. are: “If you are assured of The Koomes havecapital, growth is automatic diversified into propertyespecially if you deal with business. quality goods. But you must The quest for a loan of maintain discipline to achieve only Ksh20,000 to boost growth.” Lydia’s fresh produce supply “Equity provides me business and what unfolded with solutions when I have thereafter remains fresh in her mind. “If you are assured Kilimo Biashara When she visited the Equity Bank Meru Branch, of capital, growth she was driven by hope and is automatic This is a short and medium term lending aimed at supporting desperation. Hope that her prayer would be answered, especially if you farmers for food security. We provide financing to: desperation that she had deal with quality to get that money or fail to • Small scale farmers deliver. goods. But you must • Large scale farmers “I thank God for it all,” maintain discipline she says of the success that to achieve growth” her family has enjoyed since • Agro-dealers of seeds, fertilizers and agro-chemicals she made that trip to the -Kathambi • Agro-processors branch. “I explained to the people We also offer warehouse receipt financing. at the branch what we financial needs and this has wanted. Equity staff did not helped me to grow,” says Flexible repayment period of up to 36 months. Apply for your loan ask for security before giving Kathambi. “On my part, I am us the loan. They asked for sincere and confident when today at any Equity Bank branch countrywide. invoices to confirm that I dealing with the bank.” was a supplier to Uchumi. Lydia is impressed that, In fact, I was shocked when even though staff at the they processed the money. branch move, she is treated Equity Centre, Hospital Road, Upper Hill, Tel: +254 763 063 000, I received it within one just as she was when she first Email: [email protected], @KeEquitybank KeEquitybank, day. They gave me the full walked through the bank’s www.ke.equitybankgroup.com, Ksh30,000 I had applied doors. for expecting that if it was “The processing of loans Equity Bank Limited is regulated by the Central Bank of Kenya reduced it could come is similar. Staff at the branch down to the Ksh20,000 I have over the years changed desperately needed.” but Equity has remained the She confesses that the same,” she says. 16 equity News Master Fabricators: Ingenuity in bus body building enyans have lofty industry in sub-Saharan humble beginnings, they could business ideas Africa. You will find buses as well be referring to Master and dreams but built by the Likoni Road based Fabricators. This is a firm that K firm serving the transport traces its background to 1995. they need people and That is when a youthful, just institutions that would needs of people in Kenya, Uganda, Tanzania, Congo graduated Bobby, inspired by empower them. DRC, Namibia, Malawi, his father who was a bus body That is the observation of Botswana, Rwanda, Zambia building expert, incorporated Dharminder Singh Virdee and Burundi. Courtesy of one the firm and opened an office Bobby, a University of Nairobi of the firm’s Tanzania-based in a container. trained engineer who plans bus operator, buses fabricated So much water has passed to be the first in Kenya and by Master Fabricators travel under the bridge and Master this part of the world to all the way to South Africa. Fabricators has remained on start building choppers. Yes, Riding the crest the growth path. helicopters. of innovation, Master The statistics tell the story: That is what he would Fabricators has introduced A container for an office, a Dharminder Singh Virdee Bobby like his company Master many unique safety features in godown of 3,000 square feet Fabricators Ltd to start bus and coach body building just enough to accommodate making, and help the country in sub-Saharan Africa. For three buses and a staff of to achieve the vision of willing bus companies, Master eight. That would not have and workshop and has 300 Watch video says. Master Fabricators still becoming a prosperous, Fabricators incorporates impressed many outsiders. people working for. enjoys this kind of facility. industrialized middle-income anti-roll cages, glass splinter Neither would that have The company has grown “Equity is a willing and nation by 2030. nominated the Best Bus protection, driver impact zone served as an indication of over a short span to become Coach body building supporting partner in business. When referring to the and side impact protection where the firm would be today. one of the market leaders in Kenyans have business ideas ability of Kenyans to build Company by the National features. “We started the company supply of various types of bus Road Safety Agency in Kenya, and Equity Bank has helped enterprises, Bobby knows It is also the only bus with a little capital and in a and coach bodies through to empower many of them what he is talking about. He East Africa. body building firm thatsmall way,” Bobby remembers innovative design and concept Winning such awards, by offering them credit,” says is living testimony of what undertakes installation of air- how it all began. “We have in the industry. Bobby. one can achieve with the right seeing bus firm customers conditioning on the vehicles come a long way.” Bobby reveals that even delighted with Master Bobby notes that, although focus and a helping hand. in-house and does not go for Master Fabricators better and bigger things are in his firm has built its reputation Master Fabricators has Fabricators work and daily outsourcing. currently stands on 40,000 the pipeline. This will depend interacting with 300 staff who on the back of quality work, already made a name in the Yet when people talk of square feet premises that on how fast the firm is able to emphasis on safety, clear bus and coach body building support families courtesy of companies being built from comprise offices, six godowns quickly tie up a credit facility their earnings is a source of branding of its products for arrangement which is being happiness for Bobby. greater consumer awareness, discussed with Equity Bank. He says the passion to do perseverance, excellent For four successive years, more is there. “We want to customer relationships, Master Fabricators has been build a modern assembly line innovation and minding the for buses,” he reveals and adds welfare of staff, Equity Bank’s that, “before I retire, I want to credit line was the catalyst. build choppers in Kenya.” He advises aspiring Just like it happened entrepreneurs to focus on in 2007 when Master a specific project, carefully Fabricators received a credit weigh the risks involved and line from Equity Bank, Bobby then give it a shot. is banking on the bank to “When they receive loans support this dream. Then, the for their businesses, they bus and coach body building should not rush to buy the firm sought a bill discounting most expensive TV or four- facility. wheel vehicles in the market. “Equity Bank was willing Instead, they should invest to support our dreams and the money in the business and A bus at the Master Fabricators that marked the beginning of achieve the goals they had set factory. (Inset) A completed bus a strong relationship that has before applying for the loan,” remained intact to-date.”, he cautions Bobby. Couple’s idea grows to a thriving business furniture,” say Maina. Using readily available ideas for a wider product its portfolio to associated Donholm, Kamakis and on fter many years The couple decided to raw materials, the couple offering. services and products. These Ngong Road in Nairobi. invest in a timber business in designs, creates and cuts “My employment in the include interior design, Stiff competition from of employment, Donholm in Nairobi. fabrics to clients’ tastes and family business has increased kitchen and wardrobe imported furniture has only Athe promise of Soon it dawned on Maina preferences. ideas. I started with a design fittings, electrical andincreased the couples resolve a ‘golden’ handshake on that making furniture pays It has taken the couple of a pillow but now we design plumbing service as well as to succeed showing that with being declared redundant better and knew his wife many years of resilience to coffee tables, dining sets and house ceilings. a dream, a small idea can does little to diminish the could exploit her tailoring see MiMa Designs grow sofas,” says their daughter With a well-structured grow to a big idea, and even trauma. skills to design upholstery from a tailoring shop to an Sandra Maina. management board, MiMa expand to be a great idea. This was not so for using imported fabric. enterprise attracting a wide Beyond the furniture Designs has developed the Watch video Anthony Maina who was But except for the sewing client base in Nairobi and its shops, MiMa has expanded brand that has outlets in laid off way ahead of his machine Milkah used to suburbs. MiMa Designs owners, Maina (left) and Milkah retirement age. Being sent make clothes the couple had Looking back Maina (right) at their furniture showroom. Below: home opened his eyes to no equipment to start the notes that an entrepreneur some of the furniture manufactured by MiMa opportunities for self- furniture business. must be ready to overcome employment in a trade of his “The assistance of Equity challenges to succeed. choice. Bank, which is our partner in Starting any business is The father of four started the business, we managed to never smooth sailing. You a furniture import business start the business and grow it come across many challenges as his wife Milkah, a tailor slowly,” says Maina. but with hard work and by profession made clothes The couple registereddetermination you prosper,” specializing in ladies wear. the business name MiMa - says Maina. Milkah exploits The two businesses struggled. an acronym of their names her designer skills to come Slim profit margins from Milkah and Maina, Designs up with original designs imported furniture rendered and plunged into the for furniture finish while the business unviable while furniture industry. the husband has become imported used clothes shut “I went to Dubai where the carpentry designer per out Milkah’s new clothes my husband sourced the excellence. from the market. “It was furniture and saw the seats. I The couple has a challenge for her to determined to produce even apprenticed their children continue tailoring and for better designs back home,” in the business to ensure me to continue importing says Milkah. continuity and injecting new equity News 17 Former cleaner now owns schools

fter working for The Goodrich School in several years as Embakasi Aa cleaner in a city restaurant Gedion Kyalo determined to try his hand in restaurant business because that was what he was accustomed. The business floundered prompting him to explore other sector options. Farida outside one “I started the kiosk of her cottages in business with Ksh3,900. Mombasa I then started saving little by little to the point where Continued from Page 6 I could take a loan from Farida’s DNA. The Equity bank to start a former salon owner is also kindergarten,” says Kyalo. the proprietor of Sadian He chose to venture into apartments, a chain of the education sector. The high end villas that are first challenge was finding a located in Mtwapa, which suitable location and ready she leases to tourists and premises. holiday-goers. His breakthrough came Farida opened upon sharing his dream with the apartments after a friend who pointed him conducting a market to a vacant property in the research that revealed upmarket Kileleshwa suburb monitoring; wholesome even more students. Within Watch video that rental income from that would suit his enterprise food; ample playground; an four years the school capacity tourist accommodation is idea. He invested in a small efficient transport service had increased 15 fold to 600 lessons for children with remarkably higher than kindergarten on a pilot bass and a conducive environment pupils. talent and interest in the the monthly income from and realized that demand for for academics were highly In the growth of his performing arts. rent paid for long term education in the nursery and considered by parents for business the entrepreneur Kyalo’s diversification stay. lower pre-primary school their children. experienced challenges to primary school meant As a start, she was insatiable. The quality service he including predatory he comes up with an refurbished a cottage Kyalo decided to open a delivered in nursery was not incursions on brand by ingenious way to graduate within her compound to second kindergarten in the lost to parents who hoped other schools that adopted the pupils from nursery for try out the market. The more populous district of their children would carry the red and blue coloured promotion to primary level. success was startling. “Within a very short time, Embakasi in the Nairobi. on to primary education in uniform synonymous with He introduced graduation Gedion Kyalo His aim was to cater for the a similar environment. This Goodrich. To fend off the ceremonies complete with I had earned Ksh 500,000, middle income families in prompted Kyalo to establish competition he rolled out a gowns. that easily stands out in the and this showed the the area. In no time all the a primary school wing. new-look uniform that was In under 5 years Kyalo marketplace. potential in this industry,” 40 vacancies for pupils were The growth of Goodrich more outstanding and harder managed to transform his “To succeed as an she recalls. filled. Schools increased to imitate. business from a micro outfit entrepreneur you have to be Having set up a website He later embarked on momentum when the To further keep ahead to a medium sized company. principled. Live within your to market the business, research on education as entrepreneur invested in of the competition, Kyalo He prides himself for the means, save like I did and Farida saw demand for her a business and established a new administration and introduced lap tops for pupils business that he knows will invest. You will realise your services shoot. Soon, she that safety through physical classes block to accommodate in primary school and music grow to a corporate brand dreams.” advises Kyalo. added more units to cater for a growing clientele. Currently, she has six units, all of which are seldom without tenants. Business opportunity in security “I put a lot of effort in good customer experience who boosted our capital from by ensuring the services fter employment her chicken business,” says are world-class,” she says. Ochieng’. for more than “Happy customers are Struggling through a plus for any business, A15 years in the formative years to build a more so in the hospitality security industry, Eric foundation, Ochieng’ and his industry.” Ochieng’s desire to venture wife Eunice put up a spirited Financing by Equity into entrepreneurship effort to market their firm. Bank has helped to propel finally bore fruit. And with finances her business to greater It was a dream etched in running out, supplementing heights. She recently his youthful years to build with funds from the chicken purchased a two-bedroom and run a firm he could call business helped to boost their apartment, and is touching his own. And after long soul cash reserves and operating it up in readiness for the searching, he settled for an expenses. overwhelmingly busy investment in an industry in After two years, the firm December holiday. which he could dedicate time, had only managed to get one “Equity Bank has been resources and knowledge client and the returns could tremendously supportive,” gained through one and a half not meet their overheads. Farida asserts. “Financing decades of dedicated service “It was really challenging. by the bank has enabled and passion. We had to borrow to pay rent, me to buy this shop. However, finances and pay our staff and have enough More to that, it’s the time prevented him from to do our marketing. close relationship I have starting his business causing We decided to approach established with the bank him a five year delay. But this a financial institution with security firms providing staff. They listen.” challenge did not hold him our idea for support. A one employment to hundreds of Farida says that her back from registering his firm afternoon meeting with youth. next business plan is albeit with limited resources. Equity Bank made all the “Our lives have been to extend her brand Top: A Bedrock Security Guard opens the gate to the company’s In 2009, Bedrock Security difference in our business,” transformed as we transform footprint across the other people’s lives. We are head office in Riara Gardens Nairobi. Inset: Ochieng’ (left) and his Services started operating says Eunice, who is now the wife Eunice (right) country. “Having Sadian in Kenya. Ochieng’ says he general manager in charge of able to take our children to apartments replicated in started the company with operations. good schools, as we focus to CCTV installations, VIP storm. He is determined Kisumu, Lamu and other nothing more than limited Six years and counting, the on building a national brand protection services, cash in to excel and prove that places is a dream foremost office space, a few desks, five security firm now boasts of a to be industry leaders in five transit tracking systems, an indigenous firm can on my mind.” employees and a big dream. fleet of twenty vehicles and a years. ” security audits and alarm compete and survive amid If her continued ‘’My savings were not diversified business venture The General Managerfittings. the turbulent business entrepreneurial success is even enough to begin this serving both government and says their business has grown Although competition is environment with focus and anything to go by, there is business. My beginning was private sector in the country. from providing guards to man high, Ochieng says he has hard work. every indication that her very humble and it is my wife It is among 30 locally owned gates and buildings entrances learned how to weather the dreams will come true. 18 equity News Equity Bank has walked with me on my journey

they proceed to university, need assistance, they chip in.” enya will soon they are well grounded. Equity, she explains, has NIBS introduced been her strong supporter have a university computer engineering, and the two institutions have Knamed NIBS mechanical engineering grown together - Equity from University. That is if(motor vehicle option), a building society to a bank things go according to electrical engineering and NIBS from a college Lizzie Wanyoike’s plans (power option), catering and now destined to become a as she is busy building the accommodation, and food university. infrastructure that the production last year. “We are expanding and university will need. It plans to introduce building a complex on Thika She is also introducing e an advanced diploma in Road,” Lizzie explained several technical courses hairdressing as well as a during an interview. because her vision is “to diploma in beauty therapy Lizzie is among scores turn the college into a and a certificate in nail of women who have grown technical university that will technology. All these are with Equity since its days examined by the Kenya as a building society and The Thika Road Campus of Nairobi Institute give diploma holders the of Business Studies opportunity to progress to National Examination witnessed its transformation higher levels: higher diploma Council (KNEC). into a commercial bank. and degree levels. We hope to Lizzie founded Nairobi “Without Equity I students to join university to also substantially increased in the Kenya Certificate partner with Equity Bank to Institute of Business Studies wouldn’t be where I am pursue training that promise enrollment. of Secondary Education develop infrastructure for the (NIBS) in 2000. In under today,” Lizzie asserts. “No brighter future. However, The growth of the private K.C.S.E), have benefited university.” two decades, the institution other bank has done for me over the years, the percentage university sector in Kenya through Lizzie’s self-funded NIBS offers severalis set to join a list of a slew what Equity has. I would say of students seeking university has been fuelled by several scholarship programme. popular diploma courses – of private universities in the bank listens to its account education has been on the factors, including: the limited The beneficiaries have most of which are technical the country that began as holders.” rise. A growing number of opportunities available the opportunity to pursue – thus giving learners a solid colleges. The future may hold a secondary school graduates in public universities; the Diploma programmes of foundation for advancement Lizzie, the NIBS Principal lot of promise for NIBS who do not make the constant closures of state- their choice in any of the to university. She is providing and CEO, says she is eagerly and its prospective students university grade end up in funded universities and; NIBS campuses and other the infrastructure for waiting the institution’s but for the present, Lizzie middle level colleges which the need to complement tertiary colleges. She has also them to gain transformation into a fully- savours what the middle level often serve as springboards to government-managed higher sponsored about fifteen (15) practical skills fledged university. college has achieved so far: university education. institutions of learning. high school students, who so that when Lizzie says: “We managing to train thousands opened a college, NIBS, of Kenyans who have gone People are hungry for Besides being busy otherwise would have been and Equity Bank gave on to excel in various careers. university education as they laying the foundation for forced to drop out of their us the initial loan of Every year, NIBS, one of the seek to acquire skills that will NIBS’ transformation into a last year of high school due to Lizzie university, Lizzie, has been lack of school fees. Wanyoike Ksh4 million. We have leading private colleges in the give them a competitive edge worked together country, graduates an average in the job market. Despite supporting needy students. Due to the growing since of 1,500 students annually the rapid expansion of higher About five years ago, the demand for education and and the number will grow education over the past two educationist made the scholarship, Lizzie has a n y once the institute transforms decades, challenges of access decision to start a personal decided to scale up her time into a university. and equity remain. sponsorship programme sponsorship program. A I “Our goal now is to The number of public and using her own funds, special purpose vehicle, the develop a university that is universities increased from embarked on her journey. Her Lizzie Wanyoike Foundation affordable to our people,” one at independence to seven objective was to break the has been registered to Lizzie asserts. “We do not today. The country has also chain of poverty by giving the mobilize resources from intend to commercialise experienced the growth of less fortunate youth access to like-minded people to education but to offer quality private universities due to an education. offer scholarships to needy education by following all the increasing demand for Annually, 20 students students in an endeavor to regulations and standards set higher education and now. from needy families and uplift their economic status by the regulatory bodies.” The demand for Module II who have attained an through access to quality It is the dream of many university programmes has average grade of B- (minus) education. Loiyangalani’s green ambassador a tree nursery is a viable husbandry.” trinkets. Although Naitisai’s She enrolled for she says, has helped her oiyangalani in business. Naitisai’s property is businesses are doing well, she financial literacy classesmanage her various businesses “I started out planting situated right on the main confides that she required offered by Equity Group better. “Before, my businesses Marsabit County is trees as a hobby, but later street in Loiyangalani town, training to better manage her Foundation and Thewere not clearly demarcated; Ldry. The area is rocky found out that people needed providing an opportunity investments. MasterCard Foundation I would mix income from with limited vegetation tree seedlings,” says Naitisai. to establish a shop in the graduating alongside 300 all the businesses. Now, and particularly trees to “My project grew. I have sold frontage of her home to Watch video other entrepreneurs in everything is accounted for.” shelter from the scorching my seedlings to schools in sell clothes and cultural Loiyangalani. The training, sun. Loiyangalani; to other places But trees can and do grow in the area.” here as Esterina Naitisai The tree seedlings most demonstrated when two sought after are the Neem decades ago she embarked tree, or Mwarobaini, as it on an environmental journey is popularly known. There that has not only changed is adequate water to grow her fortunes, but those of the trees all year round and Loiyangalani town. Fondly enough seeds that drop off known as mama miti, (the the Mwarobaini tree in the tree lady) Naitisai is credited yard. for turning Loiyangalani To supplement her green from planting trees income from the trees herself and from selling seedlings Naitisai diversified tree seedlings she grows at her business to become the a nursery in her backyard first farmer in the town to right at the centre of the start poultry farming as a town. business. Although Naitisai started “Initially, I reared broilers, planting trees to improve her then switched to layers. It was immediate environment she challenging at first, but I have soon realized establishing gained knowledge on poultry Naitisai waters her tree seedlings nursery equity News 19 Thinking big and doing things differently through persistence tat we succeeded. Remember they say, persistence breaks resistance. We have been able to capture eorge Wachiuri’s, company, Optiven Limited the market slowly. As an entrepreneur we have been able to was named the Kenya Top 100 Mid-sized build partnerships. We partner very well with Equity Bank. GCompanies Overall Winner last year. The These are the people who understood us when we were very founder and CEO of Optiven Limited was a guest on low and we have walked with Equity Bank for a long time. Road to Success, a programme sponsored by Equity Bank I can confidently say they fund 99% of our projects and they and aired on KBC TV Channel 1. Here is an excerpt understand us very well. from the interview: Q: How many clients does Optiven currently have? Q: What does Optiven stand for? A: We have over 2,000 customers and we are growing. We have A: Optiven means ‘Optimizing Ventures.’ That whatever we do, a very ambitious vision. In our strategic plan we are saying we need to optimize. we want to go to the next step. Other than having projects in a few counties, we are targeting 20 counties because there Q: What inspired him to go into real estate and property are a lot of opportunities out there. Every county requires development? houses. I have been participating in various county meetings A: I have been an entrepreneur for many years; Optiven Limited and I can say there are a lot of opportunities out there and is not the only business I have done. I have gone through that’s why for us as Optiven, we don’t see competition. a long journey, just like many others entrepreneurs and I When we see other people doing the kind of business we’re thank God that last year, we were named Kenya Top 100 doing we know it is for the better of us all because we need Mid-sized Companies Overall Winner 2014/15 & Best in more people to do what we are doing so that we are able to Real Estate/ Property and Construction 2014/15. Our goal house as many Kenyans as possible. is to empower people to own their own properties and our Q: Besides these, are there other awards you might have won? key focus is to settle Kenyans. We develop Real Estate; we add value to land, what we call, ‘Value Added plots’. Once A: I was awarded the Entrepreneur of the Year by the University you buy property from Optiven, you get access to water, of Nairobi. I used to work for the U.N. and I got an award as we do the boreholes: we do the water piping, we have a the Best employee and many others. greening policy whereby every project has zones where we Q: It has been 15 years to get to where you are today, winning plant trees. In every project we have space for greening. We George Wachiuri prestigious awards such as this. What lessons have you learnt create spaces in our projects for play fields for children and along the way that you would want to share with upcoming we do access roads. Our target is the young professionals. entrepreneurs, start-ups, students and youth? We want people to come to us and acquire the value added members of staff and it was very difficult. That time we A: What I like sharing with business people is that they should plots and develop their own houses. These are people who were doing stationery business. Later on we decided to keep dreaming. Not only dream but also take action. In probably got their first job and are starting to run their own be aggressive on marketing so we moved office to another business, they should not allow the dream killers to kill businesses and they are wondering, ‘Do I buy a car or do building, which was slightly bigger. The turnaround came their vision. Everything you see today was once a dream. I buy property?’ Our competition is not other industries. when we decided to diversify. Other than just doing supply Success is not the money we make. Success is the number Our competition is the same people who want to buy cars. business, why can’t we try Real Estate? We asked ourselves, of opportunities we create for others. Right now we are I talk to them and say, why can’t you invest in Real Estate? “What do Kenyans look for when they want to invest in about 50 members of staff. Our dream in the next 15 years If we do not educate our people to invest that will mean our Real Estate?” We could see many Kenyans buying plots is to employ 15,000 people. Our dream is to build over people will end up having that consumer mentality. but not as many were buildings. So I asked myself, “how 10,000 affordable houses to the Kenyan people. We want Q: To get to where you are, what has the journey been like? come Kenyans are not building homes?” Yes we see reports to be pacesetters in real estate across Africa. An award like A: As an entrepreneur it is very important to let other people that we have a deficit of 350,000 housings units every year. this one, Mid Top 100, means that we are in mid so we are who want to be like Optiven know that the journey to We decided to be different and came up with the idea of eyeing to join Club 101. We are able to share those lessons, success is not for the fearful. You have to take risks. When value-added plots, whereby when Kenyans come, they have especially from my book, ‘Building small businesses, to be we were starting Optiven, we had a very small office with everything there. The water is there, there is access; there is big business empires” One of the lessons I can share with a small table. We were struggling to get by. We had two security; the property is fenced well, the land is sub-divided people right now is, you are in business, you must be able and we do house designs and to delegate. You must be able to hire right. Hire people who offload to Kenyans. are better than you. As a business owner you cannot do Q: Property is a major asset and everything. Put up systems, hire consultants to do the work to convince somebody to buy this for you. For us we have tax consultants, we have auditors, we kind of asset is difficult. Who have trainers because that is the way to grow business. If you were your first clients? are selfish, you just want a small cake, it cannot even satisfy your own family. Invite people to bake a cake and then share A: Every business someone with many more. starts, they start with their friends. I remember by the Q: We all have people who inspire us. Who inspires you? time we were doing our first A: I have three people who inspire me. One of them is Dr. property, I talked to my friends James Mwangi. The way he takes risks, the way he is able and told them, here I am, to transform the banking sector; the way he is able to George Wachiuri, I am in Real offer thousands of jobs, he really inspires me. The second Estate, can you partner with person is Dr. Manu Chandaria. What I learnt from him is me? I remember that properties philanthropy. In Optiven we have a foundation, Optiven were selling at Ksh300, 000 and Foundation. Its job is just to help the needy, alleviate funny enough, friends would poverty, focus on environment and that man inspires me. trust you especially in properties Wherever you go you see things donned, ‘Donated by Manu and they agreed to walk with Chandaria’. The third person is Vimal Shah. He is able to us and some of them are one share his knowledge with other private sector members and of our biggest clients. But it he does not hide any information. Those three men really was not very easy to start. It is inspire me. Equity Group’s commitment to growing SMEs in Africa

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and liquidity management, account opening, serves over 600,000 MSMEs, representing and mobile payment services leverage on the 70% of the total loan portfolio, many of Group’s strength of IT architecture to provide which are undertaking the transformation a delightful experience to our customers. across the different stages of business growth Furthermore, Equity has assembled and development. Having won the best a global team of SME experts including SME bank in Kenya, Equity Bank already Jumaane Tafawa, Rohit Kumar and Philip has the largest SME customer base in East Sigwart, each bringing unique skills and and Central Africa. Yet, this journey is just competencies to support the growth and beginning and we continue to demonstrate development of SMEs not only in the 6 our commitment to being true long-term markets that we currently operate, but also partners dedicated to the long journey of an for the 15 countries we have targeted for entrepreneur through both good times and expansion across the continent. hard times in the pursuit of wealth creation The culmination of Equity Group’s and prosperity for the people of Africa. strategic focus has already borne fruits. Equity 20 equity News

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