The secret to Kenyan business success

Here's the secret that Kenyans require for business success

In Summary

• It takes courage to start and run any business of whatever kind.

• Kenyans are hungry for opportunity and ambitious to succeed. 

According to a survey by the Kenya National Bureau of Statistics, approximately 400,000 micro, small and medium enterprises do not celebrate their second birthday.
According to a survey by the Kenya National Bureau of Statistics, approximately 400,000 micro, small and medium enterprises do not celebrate their second birthday.
Image: BBK Twitter

Lucy Waithera, Susan Adhiambo, Hassan Mang'eli and Charles Kiptum are ordinary Kenyans who are in different businesses. They are each keen on earning a decent living and they have become quite apt at taking chances.

Waithera runs a registered import business with two of her partners which they started four years ago. They currently have 9 employees and their business majors on import and sales of clothes and shoes. Their second store opens next week at Sonalux house in Nairobi and things are finally beginning to look up.

Adhiambo is a software programmer and together with her husband, they own a one year-old start-up business called Littleman. They recently won an award for building a gaming app called 'Aloc Acoc' which seeks to inspire, educate and entertain school children. They intend to take it global in five years.

 
 

Mang'eli on the other hand is a popular chef who left employment at a high-end restaurant seven years ago. He now successfully runs a chain of restaurants in the city. His offering is unique in that his chain of restaurants mainly serves specialized dishes from the Arab world. Currently a big hit within the Muslim community, Mang'eli is an entrepreneur who has been blessed with good fortune.

Kiptum has inspired his friends who joined him to start a primary school in the outskirts of Eldoret. That was in 2011. This year, they are having the very first batch of students sitting for the national examinations. It has been a very exciting journey for them with ups and downs and the students are set to perform exceptionally well, given that Kiptum has a strong background in education.

Kenyans are hungry for opportunity and ambitious to succeed. The Kenyan spirit remains ever resilient and despite the harsh economic times, Kenyans are increasingly turning to starting businesses.

So then, what do these four individuals have in common? For starters, courage. As Maya Angelou said, “Courage is the most important of all the virtues because without courage, you can't practice any other virtue consistently.”

It takes courage to start and run any business of whatever kind. You also need all the help and support that you can get.

Here's another thing they have in common; support from a financial institution that believes in them.

Which one, you ask? Barclays Bank of Kenya.

 
 

With tailor-made solutions, helping small and medium-sized enterprises drive business with trendsetting banking solutions is all part of what they do.

For his school, Kiptum uses the Uwezo Current Account, which is best suited for non-profit organizations, religious institutions, schools, societies and trusts. Mang'eli's business is supported by the La Riba Business Current Account which is especially designed for his businesses because he prefers Islamic banking products.

Adhiambo's year-old start-up is comfortably catered for by the Business Bouquet Account. However, as soon as turnover improves, they'll upgrade to the Business Club Account. This is what Waithera uses at the moment because it is sufficient for her growing enterprise.

Barclays Bank of Kenya which is soon to become ABSA Bank has made sure that businesses have access to various account options tailored to their needs, membership to the Business Club, plus their doors are open longer to customers with extended banking hours so you're always in business.

Stephen Wanjau’s zeal for success has driven him throughout the years. He talks about his journey as a member of the Barclays business club #LetsGrowTogether

Need a business account to help you grow? Check out https://www.barclays.co.ke/business/open-an-account/sme-business-accounts/

You can also call an expert right now on +254 (20) 3900000, +254 (722) 130120 or +254 (732) 130120. Email: [email protected]

Barclays Bank of Kenya is part of the ABSA group.