07Dec 2024 by @iBizAfrica No Comments
Best Businesses to Start in Kenya on a Budget

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…
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06Dec 2024 by @iBizAfrica No Comments
Surviving (and Thriving) During the Holiday Business Rush

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,…
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04Dec 2024 by @iBizAfrica No Comments
What Entrepreneurs Should Know About Kenya’s New Banking Reforms

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…
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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.…
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