@iBizAfrica - @iBizAfrica

03Feb 2025 by @iBizAfrica No Comments

When the Funding Stops: Is it a Curse or a Blessing in Disguise?

For years, Kenya’s startup ecosystem has thrived on international aid, with USAID funding key initiatives that have propelled innovation and business growth. Programs like the Kenya Investment Mechanism, which mobilized private capital for SMEs, the USAID Afya Uzazi program, which supported health-tech innovations, and our own Women Entrepreneurship Incubator Program (WEIP) at @iBizAfrica, which helped women-led businesses scale, have all benefited from this support. But with the sudden suspension of USAID programs, these and hundreds of other initiatives have come to a halt, leaving entrepreneurs at a crossroads. Without this financial cushion, startups that once relied on grants to survive must now rethink their strategies. The question is no longer just about sustaining businesses—it is about whether Kenya’s entrepreneurs can innovate and grow in a landscape where donor support is…

06Jan 2025 by @iBizAfrica No Comments

Startup Capital of Africa: How Kenya is Shaping the Future

Entrepreneurship

Photo Courtesy: Citizen TV Kenya Every so often, you come across a story that makes you pause and say, “This is it—this is what real resilience looks like.” And this year, Kenya has done just that. In 2024, Kenyan startups secured $638 million in funding, the highest in Africa. Yes, you read that right—despite a tougher climate for investment across the continent, Kenya stood tall. According to Africa: The Big Deal Report, the country accounted for 88% of East Africa’s total funding and more than a quarter of Africa’s total. This was not just luck—it is a result of the grit, innovation, and relentless drive that defines the Kenyan startup ecosystem. It is about impact, not just numbers. And at the heart of this success are bold entrepreneurs, visionary investors,…

06Jan 2025 by @iBizAfrica No Comments

How to Register Your Business in Kenya in 2025

Entrepreneurship, How To's

So, you have got a brilliant business idea, and you are ready to take over the world (or at least Kenya, for now). But before you start making sales and stacking profits, there is one crucial step you cannot skip—registering your business. Yes, it sounds like a lot, but trust me, it is easier than you think. Let us break it down: What You Will Need to Register Your Business Before you dive into the registration process, make sure you have these key documents and information ready. It will save you a lot of back-and-forth: Your ID/PassportA clear copy of your Kenyan ID (for citizens) or passport (for foreigners) is needed to confirm your identity. KRA PINA Kenya Revenue Authority (KRA) PIN is mandatory for business registration. If you don’t…

11Dec 2024 by @iBizAfrica No Comments

Highlights from WEIP’s Selection Day

WEIP

On December 11, 2024, the Women Entrepreneurship Incubator Program (WEIP) Selection Day took place, spotlighting the potential of women entrepreneurs in Kenya. Over 100 entrepreneurs gathered to pitch their businesses, aiming for a spot in one of Kenya’s new incubation programs. The energy in the room was filled with excitement, but what stood out most was the focus on real solutions—businesses that go beyond profit to address pressing challenges in our communities. The day began with 5-minute pitches from entrepreneurs across Nairobi and Kiambu County, showcasing businesses in Agri-business & Agro-processing, Textiles & Apparel, Healthcare and Water & Sanitation. These were purpose-driven ventures tackling everyday issues with sustainable solutions like accessible healthcare and improved farming practices. The Judges’ FocusWhat set this Selection Day apart was the judges’ emphasis on scalability…

07Dec 2024 by @iBizAfrica No Comments

Best Businesses to Start in Kenya on a Budget

Entrepreneurship, How To's

Starting a business is an exciting journey, but when you are working with a tight budget, it can feel overwhelming. You may ask yourself, “Can I really do this without millions in the bank?” The truth is, you can—especially in Kenya, where small businesses are thriving. In fact, 98% of businesses in Kenya are small and medium-sized enterprises (SMEs), according to a tracker by the Central Bank of Kenya. This sector is the heartbeat of our economy, creating jobs and driving innovation. So if you are thinking about starting something of your own, you are definitely not alone. The key to success lies in starting small, focusing on your skills, and tapping into what your community needs. Here are some businesses that are ideal for anyone looking to get started…

06Dec 2024 by @iBizAfrica No Comments

Surviving (and Thriving) During the Holiday Business Rush

How To's

Earlier this week in the office, the conversation naturally turned to Christmas plans. For most, it was the usual: traveling upcountry, enjoying nyama choma, and spending time with family. But Steve Njooro, founder of Soft Sage(Paid), and an incubatee here at @iBizAfrica, brought us back to the entrepreneurial reality, saying, “For me, the holiday season is a workday—just on overdrive.” His platform, which helps businesses capture client information, reward loyalty points, and send personalized communications, embodies the hustle many entrepreneurs face during this time. For entrepreneurs, the holiday season is not just another month—it is often the busiest and most important time of the year. With Black November sales, Christmas shopping chaos, and back-to-school prep right after New Year's, the pace can feel non-stop. To help you make it through,…

04Dec 2024 by @iBizAfrica No Comments

What Entrepreneurs Should Know About Kenya’s New Banking Reforms

Entrepreneurship

Let’s face it: entrepreneurship in Kenya is not for the faint-hearted. The hustle is real. Navigating unpredictable markets and chasing down payments is part of the daily grind for entrepreneurs. Now, just as we are catching our breath, here comes another curveball: proposed banking reforms that could shake up the financial landscape. The big question is, what do these changes mean for you—the entrepreneur who is out here grinding every day? Let us break it down and see how you can stay ahead of the game. The Core Capital Proposal: What is Changing? The government wants to raise the minimum core capital for banks from Ksh. 1 billion to Ksh. 10 billion over the next three years. Minimum core capital refers to the amount of money banks are required to…

04Nov 2024 by @iBizAfrica No Comments

Highlights from the Standard Chartered Group Board Visit

SC Women in Tech

In Kenya’s fast-evolving entrepreneurial landscape, women are emerging as powerful drivers of change, building ventures that not only impact their communities but shape the nation’s economy. Yet, despite this progress, only 2.3% of African startup funding goes to solo or all-female founders, highlighting a persistent gap in resources and support. On November 4, 2024, @iBizAfrica Incubation Centre- Strathmore University, in collaboration with Standard Chartered, hosted the Standard Chartered Group Board Visit. This unique event aimed to bridge this gap by celebrating the strides of women entrepreneurs and fostering an environment of shared learning, bringing together alumnae from the Women in Tech (WiT) program and participants from the Access to Finance initiative, Somo Africa. Building a Future through Women-Led Enterprises Dr. Joseph Sevilla, Director of @iLabAfrica, opened the event by emphasizing…

31Oct 2024 by @iBizAfrica No Comments

Ballots and Business: How the U.S. Election Could Impact Kenyan Startups

Entrepreneurship, WEIP

As the U.S. presidential election draws global attention, it is crucial to understand how this major event could ripple through economies across the world, including here in Kenya. While the U.S. election might seem far removed from the daily operations of African startups, changes in U.S. policies—particularly regarding trade, foreign investment, and international development partnerships—can significantly shape the opportunities available to African businesses in the years to come. The U.S. is a key player in global markets, and its foreign policies often have far-reaching effects. For startups engaged in tech, agribusiness, renewable energy, or export-oriented sectors, shifts in leadership can influence access to capital, markets, and partnerships. In recent years, initiatives like Prosper Africa have fostered closer economic ties between the U.S. and Africa, aiming to increase trade and investment.…

11Oct 2024 by @iBizAfrica No Comments

Empowering Kenya’s Future: Launch of the Women Entrepreneurship Incubator Program (WEIP)

WEIP

September 26, 2024, the Women Entrepreneurship Incubator Program (WEIP) was officially launched by USAID in partnership with Strathmore University. This initiative aims to empower Women Owned-Small and Growing Businesses (WO-SGBs) across Kenya by providing tailored business development services, mentorship, and access to funding. This program is part of the growing recognition that women entrepreneurs are key drivers of economic growth in Kenya and beyond, yet often face barriers that limit their potential. Addressing Barriers to Women’s Entrepreneurship Women entrepreneurs face numerous challenges, from limited access to finance to restricted business development services. Studies have shown that women-led businesses in Africa are more likely to experience growth constraints due to systemic barriers such as lack of market access, low confidence, and fewer networking opportunities. According to a World Bank report, providing…

Author: @iBizAfrica