Blog - @iBizAfrica

07Dec 2024 by @iBizAfrica No Comments

Best Businesses to Start in Kenya on a Budget

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…

18Sep 2024 by @iBizAfrica No Comments

Get Payd: How One Startup is Cashing In on Fintech Innovation for SMEs

Accounting

Benaiah Wepundi, Founder, Get Payd In Africa’s ever-growing entrepreneurial landscape, small and medium-sized enterprises (SMEs) are the backbone of the economy. Yet, many struggle with a fundamental challenge: delayed payments. That is where Get Payd, a fintech startup founded by Benaiah Wepundi, steps in, aiming to transform how SMEs manage their payments, allowing them to focus on what matters most—growing their businesses. During a candid interview for the Mozilla Africa Mradi Innovation Acceleration Programme, Benaiah shared his journey of launching Get Payd, the obstacles he faced, and how training from @iBizAfrica Incubation Centre gave him the tools to grow his vision. Get Payd: Born from Real-Life Struggles The concept of Get Payd is rooted in the daily challenges faced by many African entrepreneurs. Late payments can severely disrupt cash flow,…

18Sep 2024 by @iBizAfrica No Comments

Breaking Barriers Together: Insights from the Standard Chartered Women in Tech Masterclass on Market Access

SC Women in Tech

For many African women entrepreneurs, the dream of going global can feel like staring at a door that just will not open. You have worked hard, built something amazing, but how do you take that next step and break into international markets? It is a question that so many of us struggle with—and we are not alone. The recent Standard Chartered Women in Tech Masterclass on Market Access tackled this very issue head-on, offering practical, relatable insights to help women-led startups overcome market access challenges.Read more about the unique challenges faced by African women entrepreneurs and how they are overcoming them here. The Struggle is Real Market access is tough. It is more than just having a brilliant product or service—it is about navigating a tangled web of trade barriers,…

13Sep 2024 by @iBizAfrica No Comments

Mind Your Business: Navigating Mental Health in the Startup World

SC Women in Tech

Have you ever felt overwhelmed by the pressures of running your startup? You are not alone. This is a common experience among entrepreneurs, and it was the focus of the first Cohort 7 #SCWomenInTech Masterclass: Mental Health for Startup Founders. Balancing the demands of running a startup with maintaining personal well-being is a challenge that many founders face. It is not just about managing a business; it is about managing yourself, too. According to Forbes Africa, at least 42% of African startup founders report experiencing mental health challenges, with stress, anxiety, and financial pressure being the primary culprits. These numbers highlight a growing concern in the entrepreneurial community, where the pressure to succeed often overshadows the need for self-care. Our Women in Tech Masterclasses are designed to support female entrepreneurs…

15Jul 2024 by @iBizAfrica No Comments

AI Revolutionising Education: A Story of Innovation and Inclusion

Artificial Intelligence

No one can deny Artificial Intelligence is revolutionising many industries and education is no exception. It is clear that AI’s role in learning is expanding quickly, and AI is already transforming the way we learn and teach. On June 24th & 25th, 2024, in the picturesque setting of Villars-sur-Ollon, Switzerland, two innovative minds from @iBizAfrica Incubation Centre - Strathmore University, Maxwell Opondo and Lexi Syoluka, showcased their innovative ideas at the Global Learning Council’s Annual Meeting. This opportunity came after their exceptional performance in the GLC HP Strathmore Hackathon, a program by the Global Learning Council (GLC), HP, and @iBizAfrica Incubation Centre. Breaking Down Barriers with AI Maxwell’s Zerobionic aims to address the challenges faced by individuals with disabilities by utilising a robotic arm that translates signs and gestures into…