A voice for change
Kenyans don’t feel much ownership for our country, if we did, we would be among the most prosperous nations in the world.” These words are coming from a 29-year-old who is not asking what the ‘government’ is doing to revive the economy, but rather, doing her bit to foster the positive change that this country needs to get back on the road to economic recovery.
Annabel Karanja is the Managing Director of AFRI Business Development, a company that she established a year ago in the United Kingdom where she had gone to study for an MBA. Her concept was simple – she would use her knowledge and experience to help potential entrepreneurs build on their business ideas and come up with structures that would support the growth of their companies.
“My two years stay in the UK opened my eyes to the fact that small and medium enterprises are the backbone of the economy of every prosperous nation, not foreign investments,” she says. Annabel had been toying with the idea of owning a business for about five years, but confesses that she was afraid of taking the plunge. L
ike most people, she felt that being employed was an easier option since she did not have to deal with the seemingly daunting responsibilities of running a company.
But that was until she joined Deloitte Consulting Kenya as a consultant working with small medium enterprises. She discovered that she enjoyed helping her clients build on their business ideas and come up with solid structures that would enable them to build a successful business.
She knew then that she had stumbled on her life’s passion. Around that time, in 2007, she took a year-long break from work and travelled to the United Kingdom for further studies. It is here that she decided to act on her long-held dream of starting her own business.
“Until you discover what it is you really enjoy doing, I don’t think you can ever experience real satisfaction,” she says of her job.
The market response was favourable, and within a year, she had formed a strong network which had won her several clients. Karanja admits that she was raking in good income for a newcomer in the business and knew that she would perform even better if she anchored her business in the UK. But she was dying to bring her skills back home.
“I knew that I would get more satisfaction if I played a role, no matter how minor, in uplifting small and medium business owners at home, that is why I chose to come back,” she explains.
Annable is convinced that Kenya will only realise its 2030 vision by supporting SME’s, citing countries such as Thailand and Taiwan whose economies continue to thrive, thanks to strong exports.
Annable observes that a few years ago, start-up capital for potential small and medium scale business owners in Kenya was the main stumbling block, but this is no longer the case with increased financing from government-run projects and relaxed lending rules from banks.
“What we’re lacking now are supporting structures every business person needs to run a successful business,” she says, noting that the available structures are not affordable to SMEs. This is what her company aims to change.
The company is now in the process of setting up an incubation centre where aspiring small business owners can get all the necessary information and support they require to get their business off the ground at an affordable fee.
For instance, they are in talks with several local banks interested in supporting SME’s and are also partnering with a company that rents out office space for a few hours each day. This means that business people only get to pay for the time they spend at their work station. Their clients will also have access to a regular publication which offers varied up-to-date information related to running SMEs.
In addition, the company will also hold trade briefs once a month for more established medium-sized companies that want to do business in the UK and the rest of Europe. These briefs will help companies understand international standards of product quality and service delivery.
“We will support those we take under our wings for six months to one year, within which time the business should have taken off the ground,” she explains. Right now, they are focusing on Nairobi but plan to go country-wide once funds are available.
AFRI started holding workshops for Small and Medium Enterprises at the British High Commission from September 4 this year which will cover topics such as business planning, sales and marketing, money management, business legislation, running a business from home and using IT.
